4,435 research outputs found
Data Mining in Electronic Commerce
Modern business is rushing toward e-commerce. If the transition is done
properly, it enables better management, new services, lower transaction costs
and better customer relations. Success depends on skilled information
technologists, among whom are statisticians. This paper focuses on some of the
contributions that statisticians are making to help change the business world,
especially through the development and application of data mining methods. This
is a very large area, and the topics we cover are chosen to avoid overlap with
other papers in this special issue, as well as to respect the limitations of
our expertise. Inevitably, electronic commerce has raised and is raising fresh
research problems in a very wide range of statistical areas, and we try to
emphasize those challenges.Comment: Published at http://dx.doi.org/10.1214/088342306000000204 in the
Statistical Science (http://www.imstat.org/sts/) by the Institute of
Mathematical Statistics (http://www.imstat.org
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Measuring the effect of customer relationship management (CRM) components on the non financial performance of commercial banks: Egypt case
This paper presents customer relationship management (CRM) components as applied on the Egyptian Commercial Banks, examined from the bankers' point of view. Then, it intends to measure their effect on the level of customer satisfaction and loyalty from the customers’ point of view as examples of the non financial performance measures. The paper is quantitative in nature and consists of two different structured questionnaires using convenience/quota sampling. The first involved 180 employees in order to measure CRM applicability, and the second involved 270 customers to measure the level of customer satisfaction and loyalty and their effect on the Egyptian Commercial Banks' financial performance The findings show that the selected banks apply CRM components but the level of application differs from one bank to another. The results showed a significant positive relationship between CRM and customer satisfaction in the Egyptian Commercial Banks, when applying them together and not separately. In addition, there is a strong positive effect between customer satisfaction and loyalty which was reflected on the Commercial Banks' financial performance. The findings confirm the importance of studying and implementing CRM to achieve customer loyalty and improve the Egyptian Commercial Banks financial performance. Banks wishing to improve their relationships with customers need to focus on the CRM components to develop relevant and effective marketing strategies and tactics. The paper measures the CRM as a multidimensional construct as applied on the Egyptian Commercial Banks and relate it to the achievement of the ultimate goal of retaining customers to gaining a sustainable competitive advantage and achieve more profits
A Study on CRM Implementation in Chinese Commercial Banks
The paper first presents the theory of Customer Relationship Management (CRM) under E-commerce circumstances. It then focuses on the motives and obstructions in implementing CRM in Chinese commercial banks. Further, the paper puts forward a trial solution to these specific problems to be a solving aid to Chinese commercial banks under Customer Relationship Management
The use of differentiating communication tools to attract and retain different generational cohorts: case of a commercial bank in South Africa.
Published ThesisIt is inconceivable for any organisation to think that communicating with all of its
clients using the same communications tools would make these clients more loyal.
The problem of using the right tools of communication becomes more complex when
the organisation deals with different generations. Previous scholars have
emphasised the importance of Customer Relationship Management (CRM), both as
a business philosophy and as part of an organisation’s IT systems to attract and
retain clients. The IT systems are put in place so that clients can easily communicate
with the organisation and vice versa. The CRM business philosophy is meant to
change the method of dealing with clients as a top-down approach. This means top
management will create the type of environment in the organisation that positions the
needs of customers first.
The primary objective of this study was to investigate the use of different
communication tools by a commercial bank to attract and retain clients from different
generations. The researcher identified four different branches from the same commercial bank in Bloemfontein to conduct the study. The location of these
branches in and around Malls was important because it allowed the researcher to
get a wide variety of different clients of the bank. A total of 50 clients of the bank per
branch were asked to complete a questionnaire. The statistical calculations that were
used were frequency tables, cross tables, McNemar test and the Chi-Square test.
The research findings revealed that respondents from both generations made use of
a variety of traditional and modern communication tools that were given in the
questionnaire. It also indicates that this commercial bank at times utilises the wrong
communication tools to communicate with these two cohorts, whether it is traditional
or modern communication tools. The usage of each specific traditional and modern
communication tool is also important. The results indicate that the usage of the
specific communication tools for both traditional and modern communication tools
vary during the course of the day. This is true for both generational cohort
respondents. Based on the findings of this empirical study, the bank should focus more on utilising
the specific communication tools that these two generations prefer, whether it is
traditional or modern communication tools. The bank should also pay specific
attention to the times of the day that these aforementioned communication tools are
being used most by the respondents to ensure maximum marketing exposure.
This study illustrates that there is no universal rule that dictates that a specific
generation will only use a specific communication tool - in this case the Baby
Boomer and Generation Y generation. The bank should investigate which modern or
traditional communication tools are preferred by their clients the most and then
continue with productive two way communication using those tools. This can
facilitate the process of making clients more loyal and the process of attracting new
clients simpler
The research on customer structure characteristics and marketing measures of regional bank agency: a case from the Agricultural Bank of China
With intensified opening degree and increasingly fierce market competition of
commercial banks, commercial banks innovate their products constantly and improve their
service quality at the same time. The Agricultural Bank of China (ABC) is a state-owned
commercial bank that has built branches in all county-level districts. Instead, branches of
ABC in county-level have become the weakest links that reduce ABC’s competitive power. If
the flaws in customer and market maintenance in the county-level branches are ever to be
repaired, in my opinion, meeting customer perceived service quality and customer demands
efficiently based on understanding of customer needs should be put in the first priority
currently.
Firstly, this part studies the customer segmentation of ** branch of Agricultural Bank of
China. This thesis puts forward approach to segment bank customers based on the improved
k-means clustering. The results show that the improvement algorithm effectively overcomes
the defect that traditional k-means algorithm easily falls into local optimal value, increasing
the accuracy of customer classification, and contributing to more reasonable clustering
results.
Secondly, this thesis uses the econometric panel data model to study the relationship
between customer structure and bank performance. The results indicate that a good customer
structure can bring benefits for banks and improve their competitiveness.
Thirdly, this part analyzes different service quality requirements of different types
customer in the ** branch of Agricultural Bank of China. We combine service quality
evaluation theory and the background of Chinese commercial banks, establishing the
SERVQUAL model for the ** branch. The Study has shown that the correlation coefficient
between overall perception of service quality and customer satisfaction is positive; the overall
perception of service quality and customer willingness to recommend are also positively
correlated, but the degree of correlation is lower than the correlation between the overall
perception of service quality and customer satisfaction; the correlation of overall perceived
quality of service for all samples and willingness to accept the services of other banks
correlation was not significant. At the same time, there is still a gap between the customer
perceived service quality and customer expectation in the ** branch of Agricultural Bank of
China.
Finally, according to the results of customer structure classification and service quality
survey of the ** branch of Agricultural Bank of China, the marketing strategies for different
customer groups are proposed.Com o crescente grau de comercialização da indústria bancária chinesa e a entrada
continua de bancos estrangeiros, a competição entre bancos está a tornar-se cada vez mais
feroz, e as estratégias dos bancos comerciais com vista a ganhar vantagens competitivas muda
gradualmente.
Para além do lançamento de uma variedade de produtos financeiros, os bancos
comerciais utilizam serviços diferenciados para poder dar resposta á procura do mercado
diversificado de consumidores. Estes bancos estão igualmente a começar a entender que para
os bancos gradualmente convergirem devem não só atingir uma vantagem competitiva através
da oferta de produtos financeiros bem como serviços diferenciados de alta qualidade. Este
meio tornou-se na única forma forma que o banco dispõe para poder vencer a sua competição.
Portanto, para os bancos comerciais, estamos num período de inovação onde o aumento da
qualidade de serviço é inevitável.
O Agricultural Bank of China é um banco comercial do estado que possui uma filial
em todas as regiões administrativas a nível de condado. Ligações e serviços, citadinos e
urbanos tem sido a maior vantagem do Agricultural Bank of China, mas a situação actual
não é favorável. A filial a nível de condado tem-se tornado na ligação pior e mais fraca da
fundação deste banco.
Ao mesmo tempo, bancos privados têm emergido em paridade com o rápido
desenvolvimento dos instrumentos financeiros online e, o Agricultural Bank of China,
como o representante dos bancos tradicionais está a enfrentar competição feroz. Em especial
desvantagem no que toca a recursos ao consumidor e instrumentos online que os outros
bancos oferecem.
Os bancos comerciais tradicionais, estão desta forma confrontados com a perda de
clientes bem como o elevado custo de adquirir novos clientes. O risco operacional do banco
aumenta á medida que a estabilidade do mercado consumidor piora.
Se querem mudar o status quo das filiais a nível de condado, necessitam entender a actual
necessidade da qualidade de serviço ao cliente, analisar as características da procura do
consumidor e estabelecer um mecanismo de ciclo virtuoso de mercado-consumidor-beneficio
- são as maiores prioridades agora.
Baseado nisto, este estudo usará marketing, processo de decisão da gerência, teoria e
métodos, mineração de dados, técnicas estatísticas e métodos econométricos para analisar as
características de procura do consumidor do Agricultural Bank of China.
Primeiro, utilizar a análise de cluster de mineração de dados para efectuar uma
estratificação analítica do grupo de consumidores do banco para manter a estrutura da procura
dos consumidores e serviços; classificação da informação de procura dos consumidores,
acesso ás tendências de procura dos consumidores do banco e tendência de produtos
competitivos; na base de quantificar os requerimentos do consumidor, usamos o painel de
dados econométricos para efectuar uma análise empírica sobre a estrutura de procura dos
consumidores e a performance do Agricultural Bank of China
Marketing relations and communication infrastructure development in the banking sector based on big data mining
Purpose: The article aims to study the methodological tools for applying the technologies of intellectual analysis of big data in the modern digital space, the further implementation of which can become the basis for the marketing relations concept implementation in the banking sector of the Russian Federation‘ economy. Structure/Methodology/Approach: For the marketing relations development in the banking sector in the digital economy, it seems necessary: firstly, to identify the opportunities and advantages of the big data mining in banking marketing; secondly, to identify the sources and methods of processing big data; thirdly, to study the examples of the big data mining successful use by Russian banks and to formulate the recommendations on the big data technologies implementation in the digital marketing banking strategy. Findings: The authors‘ analysis showed that big data technologies processing of open online and offline sources of information significantly increases the data amount available for intelligent analysis, as a result of which the interaction between the bank and the target client reaches a new level of partnership. Practical Implications: Conclusions and generalizations of the study can be applied in the practice of managing financial institutions. The results of the study can be used by bank management to form a digital marketing strategy for long-term communication. Originality/Value: The main contribution of this study is that the authors have identified the main directions of using big data in relationship marketing to generate additional profit, as well as the possibility of intellectual analysis of the client base, aimed at expanding the market share and retaining customers in the banking sector of the economy.peer-reviewe
Effects of Customer Relationship Management on Market Performance: A Comparative Perspective
Due to fierce competition in today’s business environment, many companies are required to
build long- term profitable relationship with customers and to achieve better market
performance. Therefore, CRM has become more and more important since the last decade of
20th century, especially in the service industry. As a result, this study is aimed to empirically
investigate the influence of CRM (key customer focus, customer knowledge management,
CRM organization and technology based CRM) on market performance in banking industry
with reference to Wegagen bank, Dashen bank and Commercial Bank of Ethiopia (CBE). A
theoretical framework was used as a guideline to test the influence of CRM on market
performance. A quantitative research approach was implemented. Besides, a descriptive
research design was used and a cross - sectional survey was chosen for this study. A
questionnaire derived from previous studies and the relevant literature is completed by 116
employees of the selected commercial banks in Mekelle city. Correlation analysis assessed
the relationship between CRM and market performance and multiple regression analysis
assessed the influence of CRM on market performance. The findings confirm that all the
independent variables (key customer focus, knowledge management, CRM organization and
technology based CRM) have a positive and significant relationship with market
performance in selected commercial banks. Moreover, the study explore that there is a
positive and significant influence of CRM on market performance. Besides, it is found that
customer knowledge management underpinning of CRM has the highest influence on market
performance in Wegagen and CBE and key customer focus underpinning of CRM has the
highest influence on market performance in Dashen bank. Therefore, the selected banks have
to implement CRM appropriately and continuously, as an indispensable tool for gaining
competitive advantage and building long – lasting and profitable relationships with its
customers in order to achieve their market performance
Business-IT alignment from operational level: empirical evidence from the Bank of Qingdao, China
Business-IT Alignment (BITA) has long been a significant topic for scholars as well as enterprise managers especially in the Internet era. Although numerous studies have identified the factors influencing the aligning process and relationships between them and organization successes from strategic perspective, few consider the impact of these elements on employees’s performances from an operational level. To fill this gap, this thesis first discusses the state-of-art and the challenges of BITA in China’s city commercial banks (CCBs) and further develops a theoretical framework to empirically evaluate the BITA in China banking industry. Finally, some recommendations for improving the level of BITA in China’s CCBs are provided.
Taking the Bank of Qingdao (BQD) as a sample, this thesis empirically examines BITA maturity model with the results that five factors including communication, IT competency/value measurement, IT governance, partnership, and IT skills are positively related to the BITA while IT scope and architecture are not significant. In addition, the moderating effect of service quality between BITA and employee’s working performance is also supported by the survey. This study also develops a new theoretical model namely, business-IT punctuated equilibrium alignment model (BIPEAM), based on life cycle theory and punctuated equilibrium theory to describe the alternately leading roles between business and IT strategies. This model may contribute towards the better understanding of the mechanism of business-IT strategic alignment process from a longitudinal perspective within an enterprise.O alinhamento entre o negócio e as Tecnologias de Informação (TI) ou alinhamento business-IT (BITA) tem sido desde há muito um tópico significativo para académicos bem como para gestores de empresas, especialmente na era da Internet. Embora numerosas investigações tenham identificado os fatores que influenciam o processo de alinhamento e as relações entre eles e os sucessos da organização do ponto de vista estratégico, poucas consideram o impacto destes elementos no desempenho dos empregados a partir de um nível operacional. Para preencher esta lacuna, esta tese começa por discutir o estado da arte e os desafios do BITA nos bancos comerciais das cidades da China (CCBs) e desenvolve um quadro teórico para avaliar empiricamente o BITA na indústria bancária Chinesa. Por último, são fornecidas algumas recomendações para melhorar o nível de BITA nos CCBs da China.
Tomando o Banco de Qingdao (BQD) como amostra, esta tese examina empiricamente o modelo de maturidade do BITA com os resultados de que cinco fatores, incluindo comunicação, competência/avaliação de TI, governação de TI, parceria, e competências de TI estão positivamente relacionados com o BITA enquanto que o âmbito e a arquitetura de TI não são significativos. Além disso, o efeito moderador da qualidade do serviço entre a BITA e o desempenho de trabalho do empregado é também apoiado pelo inquérito realizado. Este estudo também desenvolve um novo modelo teórico, nomeadamente o modelo de alinhamento de equilíbrio pontuado de business-IT (BIPEAM) baseado na teoria do ciclo de vida e na teoria do equilíbrio pontuado para descrever os papéis alternadamente de liderança entre as estratégias empresariais e de TI. Este modelo pode contribuir para uma melhor compreensão do mecanismo do processo de alinhamento estratégico entre empresas e as TI, a partir de uma perspetiva longitudinal dentro de uma empresa
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