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Banking customer satisfaction evaluation: a three-way factor perspective

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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.

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Notes

  1. The variables evaluation of the technological aspects of the branch (Tecnol_B), adequacy of physical facilities (Strutf_B) and standardizing the appearance of the branch (Ustand_B), were highly correlated with variables that measure timing aspects. These three variables (together with the corresponding variables of type A) were eliminated (instead of being recombined with the variables which appear to be related) as their correlations were greater than 0.85. Also the Measurement of physical variables (OrdDip_A, OrdDip_B) concerning employees were redundant with respect to variables of trust, and competence of staff contact. We eliminated this variable as it showed high correlations (over 0.085) with a large number of other variables.

  2. The significance of the correlation value between Weighted Multiway Factor Axes WMFAf1 and WMFAf2 has been computed via Pearson test (\(\rho =-0.0163\), \(p\)-value\(=0.9356\)) and Spearman test (\(\rho = 0.0537\), \(p\)-value\(=0.7898\)). It turned out not to be zero but its value was still not significant.

    Fig. 4
    figure 4

    Professional cluster trajectories: a farmers, b housewives, c managers, d employees

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Authors and Affiliations

  1. Economics Department, University of Milano-Bicocca, P.zza Ateneo Nuovo n.1, 20126 , Milan, Italy

    Caterina Liberati

  2. Statistics Department, University of Milano-Bicocca, via Bicocca degli Arcimboldi, n.8, 20126 , Milan, Italy

    Paolo Mariani

Authors
  1. Caterina Liberati
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  2. Paolo Mariani
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Correspondence to Caterina Liberati.

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Liberati, C., Mariani, P. Banking customer satisfaction evaluation: a three-way factor perspective. Adv Data Anal Classif 6, 323–336 (2012). https://doi.org/10.1007/s11634-012-0118-y

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