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

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Khatami Firouzabadi Mohammad Ali; TAGHAVIFARD MOHAMMAD TAGHI; SAJJADI SEYYED KHALIL; BAMDAD SOUFI JAHANYAR

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Paper Information

Journal: JOURNAL OF BUSINESS INTELLIGENCE MANAGEMENT STUDIES Year:2018 | Volume:7 | Issue:25 Page(s): 5-40

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Title

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

Author(s)

Khatami Firouzabadi Mohammad Ali | TAGHAVIFARD MOHAMMAD TAGHI | SAJJADI SEYYED KHALIL | BAMDAD SOUFI JAHANYAR | Issue Writer Certificate

Keywords

Clustering

Multi-Objective Assignment Model

Optimization

Simulation

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.

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APA: Copy

Khatami Firouzabadi, Mohammad Ali, TAGHAVIFARD, MOHAMMAD TAGHI, SAJJADI, SEYYED KHALIL, & BAMDAD SOUFI, JAHANYAR. (2018). A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation. JOURNAL OF BUSINESS INTELLIGENCE MANAGEMENT STUDIES, 7(25 ), 5-40. SID. https://sid.ir/paper/268146/en

Vancouver: Copy

Khatami Firouzabadi Mohammad Ali, TAGHAVIFARD MOHAMMAD TAGHI, SAJJADI SEYYED KHALIL, BAMDAD SOUFI JAHANYAR. A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation. JOURNAL OF BUSINESS INTELLIGENCE MANAGEMENT STUDIES[Internet]. 2018;7(25 ):5-40. Available from: https://sid.ir/paper/268146/en

IEEE: Copy

Mohammad Ali Khatami Firouzabadi, MOHAMMAD TAGHI TAGHAVIFARD, SEYYED KHALIL SAJJADI, and JAHANYAR BAMDAD SOUFI, “A Multi-objective Model of Services Assignment to Bank Customers by Data Mining and Optimization via Simulation,” JOURNAL OF BUSINESS INTELLIGENCE MANAGEMENT STUDIES, vol. 7, no. 25 , pp. 5–40, 2018, [Online]. Available: https://sid.ir/paper/268146/en

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