Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method

Raimi Oluwole Abiodun

doi:doi:10.11648/j.ajomis.20170203.14

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Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method

Raimi Oluwole Abiodun

Published in American Journal of Operations Management and Information Systems (Volume 2, Issue 3)

Received: 30 October 2016 Accepted: 14 March 2017 Published: 27 March 2017

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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.

Published in	American Journal of Operations Management and Information Systems (Volume 2, Issue 3)
DOI	10.11648/j.ajomis.20170203.14
Page(s)	86-91
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Mathematical Models, Customers Satisfaction, Banking System, Queuing Model, Regression Method

References

[1]	Hillier, F. S., and Lieberman, G. J., (2007). “Introduction to Operations Research,” Tata Mc-Graw Hill, 8^th Edition.
[2]	Yusuf, M. O., Blessing, N., and Kazeem, A. O., (2015). Queuing theory and customer satisfaction: a review of performance, trends and application in banking practice (A study of First Bank Plc, Gwagwalada, Abuja branch). European Journal of Business and Management, 7 (35), 90-96.
[3]	Mwangi, S. K., and Ombuni, T. M., (2015). An empirical analysis of queuing model and queuing behaviour in relation to customer satisfaction at Jkuat students finance office. American Journal of Theoretical and Applied Statistics, 4 (4), 233-246.
[4]	Odirichukwu, J. C., Lekara, T., and Odii, J. N., (2014). Banking queue system in Nigeria. Computing, Information Systems, Development Informatics & Allied Research Journal, 5 (1), 95-106.
[5]	Odior, A. O., (2013). Application of queuing theory to petrol stations in Benin-City area of Edo state, Nigeria. Nigerian Journal of Technology (NIJOTECH), 32 (2), 325-332.
[6]	Qureshi, M. I., Bhatti, M., Khan, A., and Zaman, K., (2014). Measuring queuing system and time standards: A case study of student affairs in universities. African Journal of Business Management, 8 (2), 80-88.
[7]	Williams, H. T., Ogege, S., and Ideji, J. O., (2014). An empirical analysis of effective customers service on Nigeria banks profitability (a queuing and regression approach). Asian Economic and Financial Review, 4 (7), 864-876.
[8]	Toshiba, S., Sanjay, K. S., and Anil, K. K., (2013). A study of queuing model for banking system. International Journal of Industrial Engineering and Technology, 5 (1), 21-26. ISSN 0974-3146.
[9]	Lixia, W., Drama, B. H., and Yao, S., (2012). Continuous process improvement in banking sector and a model design for performance enhancement. International Journal of Business and Management, 7 (2), 130-141. E-ISSN 1833-8119.
[10]	Mgbemena, C. E., mgbemena, C. O., and Chinwuko, E. C., (2010). A non linear approach to queueing system modelling. International Journal of Engineering Science and Technology, 11 (2), 6829-6839, ISSN 0975-5462.
[11]	Iroegbu, N. F., and Okoro, A., (2013). Queuing Model For Effective Customer Service Delivery In The Banking Industry: A Study of Union Bank PLC in Enugu Metropolis.” International Journal of Management & Information Technology, 7 (3), 1142-1154. ISSN 2278-5612.

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Raimi Oluwole Abiodun. (2017). 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, 2(3), 86-91. https://doi.org/10.11648/j.ajomis.20170203.14

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ACS Style

Raimi Oluwole Abiodun. Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method. Am. J. Oper. Manag. Inf. Syst. 2017, 2(3), 86-91. doi: 10.11648/j.ajomis.20170203.14

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AMA Style

Raimi Oluwole Abiodun. Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method. Am J Oper Manag Inf Syst. 2017;2(3):86-91. doi: 10.11648/j.ajomis.20170203.14

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@article{10.11648/j.ajomis.20170203.14,
  author = {Raimi Oluwole Abiodun},
  title = {Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method},
  journal = {American Journal of Operations Management and Information Systems},
  volume = {2},
  number = {3},
  pages = {86-91},
  doi = {10.11648/j.ajomis.20170203.14},
  url = {https://doi.org/10.11648/j.ajomis.20170203.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajomis.20170203.14},
  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.},
 year = {2017}
}

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TY  - JOUR
T1  - Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method
AU  - Raimi Oluwole Abiodun
Y1  - 2017/03/27
PY  - 2017
N1  - https://doi.org/10.11648/j.ajomis.20170203.14
DO  - 10.11648/j.ajomis.20170203.14
T2  - American Journal of Operations Management and Information Systems
JF  - American Journal of Operations Management and Information Systems
JO  - American Journal of Operations Management and Information Systems
SP  - 86
EP  - 91
PB  - Science Publishing Group
SN  - 2578-8310
UR  - https://doi.org/10.11648/j.ajomis.20170203.14
AB  - 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.
VL  - 2
IS  - 3
ER  -

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Author Information

Raimi Oluwole Abiodun

Postgraduate Research Student at the Department of Mechanical Engineering, Federal University of Technology, Akure, Nigeria

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APA Style

Raimi Oluwole Abiodun. (2017). 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, 2(3), 86-91. https://doi.org/10.11648/j.ajomis.20170203.14

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ACS Style

Raimi Oluwole Abiodun. Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method. Am. J. Oper. Manag. Inf. Syst. 2017, 2(3), 86-91. doi: 10.11648/j.ajomis.20170203.14

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AMA Style

Raimi Oluwole Abiodun. Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method. Am J Oper Manag Inf Syst. 2017;2(3):86-91. doi: 10.11648/j.ajomis.20170203.14

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@article{10.11648/j.ajomis.20170203.14,
  author = {Raimi Oluwole Abiodun},
  title = {Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method},
  journal = {American Journal of Operations Management and Information Systems},
  volume = {2},
  number = {3},
  pages = {86-91},
  doi = {10.11648/j.ajomis.20170203.14},
  url = {https://doi.org/10.11648/j.ajomis.20170203.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajomis.20170203.14},
  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.},
 year = {2017}
}

Copy | Download

TY  - JOUR
T1  - Development of Mathematical Models for Predicting Customers Satisfaction in the Banking System with a Queuing Model Using Regression Method
AU  - Raimi Oluwole Abiodun
Y1  - 2017/03/27
PY  - 2017
N1  - https://doi.org/10.11648/j.ajomis.20170203.14
DO  - 10.11648/j.ajomis.20170203.14
T2  - American Journal of Operations Management and Information Systems
JF  - American Journal of Operations Management and Information Systems
JO  - American Journal of Operations Management and Information Systems
SP  - 86
EP  - 91
PB  - Science Publishing Group
SN  - 2578-8310
UR  - https://doi.org/10.11648/j.ajomis.20170203.14
AB  - 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.
VL  - 2
IS  - 3
ER  -

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