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Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method
American Journal of Operations Management and Information Systems
Volume 2, Issue 3, August 2017, Pages: 86-91
Received: Oct. 30, 2016; Accepted: Mar. 14, 2017; Published: Mar. 27, 2017
Author
Raimi Oluwole Abiodun, Postgraduate Research Student at the Department of Mechanical Engineering, Federal University of Technology, Akure, Nigeria
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Abstract
The study evaluated the performance of customers in the banking system, using First Bank Nigeria Plc, Owo branch, Ondo state, as a case study, through the aid of queuing theory. The collected data for the analysis was basically for three consecutive days that comprises the arrival and service rate of customers at the bank. The optimal time of the overall server that determines how quick a customer is been attended to after arrival at the bank is also determined. Mathematical models were also developed from the queuing theory parameters that can predict customers’ satisfaction in the bank using linear and non-linear model. This was achieved through the aid of a software package called Statistical Package for Social Science (SPSS), version 17. The findings showed that the queuing parameters (Ls, Lq, Ws, and Wq) used to measure customer satisfaction decreases with time as the number of lines increases. The optimal time of the overall server of the bank shows a significant effect because a customer will not be delay unnecessary after arrival to the bank. The developed models suggested the non-linear model as the best model to be recommended to the bank based on this research study because of it significant high value of coefficient of determination (R2) and calculated F-statistic at 5% level of significance. Possible recommendation is made to the bank management to pay serious attention to this problem. Also, they should put it as a consideration that a line is better than more lines if the principle of fairness and technicality is embraced.
Keywords
Mathematical Models, Customers Satisfaction, Banking System, Queuing Model, Regression Method
Raimi Oluwole Abiodun, Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method, American Journal of Operations Management and Information Systems. Vol. 2, No. 3, 2017, pp. 86-91. doi: 10.11648/j.ajomis.20170203.14
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