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Banking customer satisfaction evaluation: a three-way factor perspective

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  • Caterina Liberati

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  • Paolo Mariani

    ()

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    Abstract

    As management of a national bank wanted to analyze its retail service competition loss probably due to low customer satisfaction, we carried out an empirical study based on a sample of 27,000 retail customers. The survey aimed to analyze retail service weaknesses and to individuate possible recovery actions measuring their effectiveness across different waves (three time lags). We studied a definition of a new dissimilarity measure exploiting a dimension reduction obtained by a three-way factor analysis (TFA). We had previously focused our attention on the limits of this approach related to the geometrical properties of the TFA applied. We introduced a reassessment of the points to adjust the three-way solution according to the quality of representation of the points. This transformation only rescaled the factor scores producing a local adjustment of the point configuration. We then performed a trajectory analysis of the different waves. The results showed the effectiveness of our approach. Therefore, further study of the derivation of a synthetic measure of cluster routes seems appropriate. Copyright Springer-Verlag Berlin Heidelberg 2012

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    File URL: http://hdl.handle.net/10.1007/s11634-012-0118-y
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    Bibliographic Info

    Article provided by Springer in its journal Advances in Data Analysis and Classification.

    Volume (Year): 6 (2012)
    Issue (Month): 4 (December)
    Pages: 323-336

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    Handle: RePEc:spr:advdac:v:6:y:2012:i:4:p:323-336

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    Web page: http://www.springer.com/statistics/statistical+theory+and+methods/journal/11634

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    Related research

    Keywords: Dynamic principal component; Customer satisfaction ; Three-way factor analysis; Trajectories analysis; Banking sector; 62P20; 62-07; 91B42;

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    1. Rizzi, Alfredo & Vichi, Maurizio, 1995. "Representation, synthesis, variability and data preprocessing of a three-way data set," Computational Statistics & Data Analysis, Elsevier, vol. 19(2), pages 203-222, February.
    2. Henk Kiers, 1991. "Hierarchical relations among three-way methods," Psychometrika, Springer, vol. 56(3), pages 449-470, September.
    3. Mihelis, G. & Grigoroudis, E. & Siskos, Y. & Politis, Y. & Malandrakis, Y., 2001. "Customer satisfaction measurement in the private bank sector," European Journal of Operational Research, Elsevier, vol. 130(2), pages 347-360, April.
    4. Escofier, B. & Pages, J., 1994. "Multiple factor analysis (AFMULT package)," Computational Statistics & Data Analysis, Elsevier, vol. 18(1), pages 121-140, August.
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