A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation

KhatamiFirouzabadi, Mohamammad Ali; TaghaviFard, MohammadTaghi; Sajjadi, Khalil; Bamdad Soufi, Jahanyar

doi:10.22054/ims.2018.9740

Document Type : Research Paper

Authors

¹ Associate Professor, Department of Management and Accounting, Allameh Tabataba’i University, Tehran

²  PhD student in Operational Research, Department of Management and Accounting, Allameh Tabataba’i University, Tehran

https://doi.org/10.22054/ims.2018.9740

Abstract

Knowing customer behavior patterns, clustering and providing proper services to the customers is one of the most important issues for the banks.In this research, 5 criteria of each customer, including Recency, Frequency, Monetary, Loan and Deferred, were extracted from a bank database during a fiscal year, and then customers were clustered using K-Means algorithm. Then, a multi-objective model of bank service allocation was designed for each of the clusters. The purpose of the designed model was to increase customer satisfaction, reduce costs, and reduce the risk of allocating services. Given the fact that the problem does not have an optimal solution, and each client feature has a probability distribution function, simulation was used to solve the models. To determine the optimal solution, Simulated Annealing algorithm was used to create neighboring solutions and consequently a simulation model was implemented. The results showed a significant improvement in the current situation. In this research, we used Weka and R-Studio software for data mining and Arena for simulation and optimization

Keywords

References

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Business Intelligence Management Studies

A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation

References

References

Volume 7, Issue 25
October 2018
Pages 5-40

A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation

References

References

Volume 7, Issue 25October 2018Pages 5-40

Volume 7, Issue 25
October 2018
Pages 5-40