Monitoring and Improving Greek Banking Services Using Bayesian Networks: an Analysis of Mystery Shopping Data

Claudia Tarantola (), Paola Vicard () and Ioannis Ntzoufras ()
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Claudia Tarantola: Department of Economics, University of Pavia
Paola Vicard: Department of Economics, University of Roma Tre
Ioannis Ntzoufras: Department of Statistics, Athens University of Economics and Business

No 160, Quaderni di Dipartimento from University of Pavia, Department of Economics and Quantitative Methods

Abstract: Mystery shopping is a well known marketing technique used by companies and marketing analysts to measure quality of service, and gather information about products and services. In this article, we analyse data from mystery shopping surveys via Bayesian networks in order to examine and evaluate the quality of service offered by the loan departments of Greek banks. We use mystery shopping visits to collect information about loan products and services and, by this way, evaluate the customer satisfaction and plan improvement strategies that will assist Banks to reach their internal standards. Bayesian Networks not only provide a pictorial representation of the dependence structure between the characteristics of interest but also allow to evaluate, interpret and understand the effects of possible improvement strategies.

Keywords: Bayesian networks; Customer satisfaction; Mystery shopping; Service quality improvement. (search for similar items in EconPapers)
Pages: 24 pages
Date: 2012-01
New Economics Papers: this item is included in nep-ban and nep-mkt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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