An Intelligent Data-Driven Analytics System for Operation Management, Budgeting, and Resource Allocation using Machine Learning and Data Analytics

This is a data science project for a manufacturing company in China [1]. The task was to forecast the likelihood that each product would need repair or service by a technician in order to forecast how often the products would need to be serviced after they were installed. That forecast could then be used to estimate the correct price for selling a product warranty [2]. The underlying forecast model in the R Programming language for all of the companies products is established. In addition, an interactive web app using R Shiny is developed so the business could see the forecast and recommended warranty price for each of their products and customer types [3]. The user can select a product and customer type and input the number of products and the web app displays charts and tables that show the probability of the product needing service over time, the forecasted costs of service, along with potential income and the recommended warranty price.

Fluid Models of Parallel Service Systems Under FCFS

In parallel service systems, customers of various types are served simultaneously by several servers that have some dierent and some overlapping skills or capacities. Examples include customer routing in call centers, scheduling of hospital operating rooms, and driver assignment in ride-hailing services. First come first served (FCFS) is a natural and widespread resource allocation policy, yet its performance both during the transient stage and in the long run is often difficult to analyze. In particular, matching rates, which indicate what fraction from all services are of a specific server customer type, are difficult to evaluate under FCFS. In Fluid Models of Parallel Service Systems under FCFS, Yuval Nov, Gideon Weiss, and Hanqin Zhang formulate a stochastic queueing model for such systems and study its fluid approximation. The paper demonstrates the usefulness and the limitations of exploring fluid performance in evaluating system behavior in terms of stability, responsiveness, and utilization.

A Service System with Packing Constraints: Greedy Randomized Algorithm Achieving Sublinear in Scale Optimality Gap

A service system with multiple types of arriving customers is considered. There is an infinite number of homogeneous servers. Multiple customers can be placed for simultaneous service into one server, subject to general packing constraints. The service times of different customers are independent even if they are served simultaneously by the same server; the service time distribution depends on the customer type. Each new arriving customer is placed for service immediately into either an occupied server, that is, one already serving other customers, as long as packing constraints are not violated or into an empty server. After service completion, each customer leaves its server and the system. The basic objective is to minimize the number of occupied servers in steady state. We study a greedy random (GRAND) placement (packing) algorithm, introduced in our previous work. This is a simple online algorithm that places each arriving customer uniformly at random into either one of the already occupied servers that can still fit the customer or one of the so-called zero servers, which are empty servers designated to be available to new arrivals. In our previous work, a version of the algorithm, labeled GRAND(aZ), is considered, in which the number of zero servers is aZ with Z being the current total number of customers in the system and positive a being an algorithm parameter. GRAND(aZ) is shown in our previous work to be asymptotically optimal in the following sense: (a) the steady-state optimality gap grows linearly in the system scale r (the mean total number of customers in service), that is, as c(a)r for some positive c(a), and (b) c(a) vanishes as a goes to zero. In this paper, we consider the GRAND(Zp) algorithm, in which the number of zero servers is Zp, where p < 1 is a fixed parameter, sufficiently close to 1. We prove the asymptotic optimality of GRAND(Zp) in the sense that the steady-state optimality gap is sublinear in the system scale r. This is a stronger form of asymptotic optimality than that of GRAND(aZ).

Comparative Study of Service Quality on VIP Customer Satisfaction in Internet Banking: South Korea Case

For Internet banking to compete effectively with traditional brick-and-mortar banking, managers must identify the key determinants of customer satisfaction. While many studies exist on Internet banking, and there is a large base of marketing literature on customers’ perceptions of luxury products, research on the service quality of luxury brands in Internet banking is scarce. Our study investigates service quality that exert influence on customer satisfaction with Internet banking most, along with the moderating role of customer type on the relation between service quality and customer satisfaction. The moderation analysis in our study is the test of difference between general customers and VIP customers which are created according to customer type. Using a web survey of 645 general and VIP (very important person) customers who use Internet banking systems, we examined the effects of fix factors that have an influence on service quality: usefulness, ease of use, and system security, reliability, responsiveness, and empathy. In the full sample, all factors that affect Internet banking quality also affected customer satisfaction significantly. Usefulness, ease of use, and system trust, responsiveness, and empathy are more important in VIP customer satisfaction than in that of general customers, while system security is a more important factor for general than for VIP customers. Our study results indicate that general and VIP customers differently perceive service quality that are relevant to customer satisfaction.

The influence of m-marketing tools on consumer buying process: evidence from the dining sector

PurposeThis paper explores the potential impact of mobile marketing tools on consumer buying behaviour within the context of dining. The aim is to examine the influence of mobile marketing tools through their different functions on the stages of the consumer buying process. The study addresses a lack of relevant research with evidence from both customer and supplier perspectives.Design/methodology/approachThe mobile tools that are found useful for dining were considered in this study. Qualitative interviews with marketers and consumer opinion leaders were conducted, given the limited extant research.FindingsThe results reveal that mobile marketing tools influence consumers' decision-making differently and their effect varies according to the customer type. Additionally, it shows that loyalty has a direct influence on mobile marketing effectiveness, as the decision-making process of loyal customers is more affected by mobile marketing tools than the non-loyal customers.Research limitations/implicationsThe limitations are mainly based on the qualitative nature of this study and are relevant to the research context. Further research could examine these findings in different service and geographical contexts.Practical implicationsMarketing activity through the smartphone should focus on loyal customers and opinion leaders with the use of appropriate mobile tools.Originality/valueThe study provides empirical evidence on the variable influence of mobile marketing tools on consumer decision-making and develops a conceptual framework. It is also found that loyalty is an important factor that positively affects smartphone tools adoption.

Pseudo-ownership advertising appeal creates brand psychological ownership: the role of self-construal and customer type

Purpose In the advertising strategy called pseudo-ownership advertising appeal, ownership-implying language (e.g. my, our or your) is used to induce consumers’ “ownership” of a brand. This study aims to investigate the influence of pseudo-ownership advertising appeal on brand psychological ownership and consequent brand attitude, purchase intention and choice. This study also assessed the relative effectiveness of different types of possessive pronouns in different customer segments. Design/methodology/approach Four experiments, involving both students and non-students, were conducted to test the hypotheses. Experiments 1 and 2 investigated the effects of the first-person singular and plural possessive pronouns (“my” and “our”) on psychological ownership and on brand attitude, purchase intention and choice. Experiment 3 investigated the interacting effects of self-construal (independent vs interdependent) and possessive pronoun (singular vs plural) on psychological ownership and brand attitudes. Experiment 4 investigated the interacting effects of customer type (potential vs current) and possessive pronoun (first-person vs second-person) on psychological ownership and brand attitudes. Findings Pseudo-ownership advertising appeal resulted in the development of brand psychological ownership, as well as inducing favorable attitudes, purchase intentions and brand choice. Furthermore, consumers with interdependent self-construal developed stronger psychological ownership when pseudo-ownership advertising appeal incorporated plural possessive pronouns, and consumers with independent self-construal developed stronger psychological ownership when pseudo-ownership advertising appeal incorporated singular possessive pronouns. Potential consumers developed stronger psychological ownership when pseudo-ownership advertising appeal incorporated second- vs first-person possessive pronouns, and current consumers developed the same psychological ownership for first- and second-person possessive pronouns. Originality/value Possessive pronouns used in advertising can enhance brand psychological ownership. Conditions that moderate the relative effectiveness of first- vs second-person and singular vs plural possessive pronouns on brand psychological ownership and consequential consumer responses can be identified. These findings extend research focusing solely on the self-referencing effects of second-pronoun use (“you”) in advertising on consumer attitudes and behaviors by paying attention to the “ownership” effects of possessive pronouns.

Penerapan Agglomerative Hierarchical Clustering Untuk Segmentasi Pelanggan

As more businesses emerge, companies need to have the right marketing strategy to provide the best service to customers. The first step is to know the type of customer and make appropriate marketing strategies according to the type of customer. In this research, it is proposed for clustering customers so that an appropriate strategy for that customer group can be determined. The method used for cluster formation uses Agglomerative Hierarchical Clustering with Average Linkage approach and distance determination using Manhattan Distance. The variables in this research are Recency, Frequency, and Monetary (RFM). The results of testing using the Silhouette coefficient show that the results of 7 clusters are the best results when compared with 2 clusters up to 20 clusters because they have the smallest minus value. Based on the results of the Silhoutte coefficient, customer segmentation uses 7 clusters with each cluster representing the existing customer type.

Meeting the needs of different business-to-business customers

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Brands are playing an increasingly influential role in business-to-business markets. Suppliers can become better positioned to exploit the opportunities offered by devising and implementing branding strategies appropriate to the nature of the relationship with and requirements of each customer type. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.