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Full-Text Articles in Business
Can You Get A Ticket? Adaptive Railway Booking Strategies By Customer Value, Jiana-Fu Wang, Ren-Huei Huang
Can You Get A Ticket? Adaptive Railway Booking Strategies By Customer Value, Jiana-Fu Wang, Ren-Huei Huang
Journal of Public Transportation
This paper integrates a customer segmentation method with a discrete event simulation model to bridge the gap between identifying customer behaviors and using this knowledge to respond to customers and make the best use of resources. Three strategies are proposed and examined to improve the operation efficiency of a ticket-booking system. Their objective is to assist high-value customers in obtaining the tickets they want and/or reduce cancellations and failure-to-pays from low-value customers. Our simulation results demonstrate that the high-value, customer-friendly strategy beats all in assisting high-value customers and simultaneously improves railway operation performance. Additionally, the indirect, low-value customer abandonment strategy …
Customer Retention: Reducing Online Casino Player Churn Through The Application Of Predictive Modeling, Eunju Suh, Matt Alhaery
Customer Retention: Reducing Online Casino Player Churn Through The Application Of Predictive Modeling, Eunju Suh, Matt Alhaery
UNLV Gaming Research & Review Journal
With the potential expansion of legalized online gaming in the United States as well as in the global market, customer retention is critical to the continued growth and success of an online casino. While customer churn prediction can be an essential part of customer retention efforts, it has received very little attention in the gaming literature. Using historical online gaming data, this study examines whether player churn (attrition) can be predicted through an application of a decision tree data mining algorithm called Exhaustive CHAID (E-CHAID). The results of this empirical study suggest that the predictive model based on the E-CHAID …
Big Data Customer Knowledge Management, Joseph O. Chan
Big Data Customer Knowledge Management, Joseph O. Chan
Communications of the IIMA
Knowledge management (KM) and customer relationship management (CRM) are dominant strategies for value creation for businesses in the new economy. Customer knowledge management (CKM) results in the merging of KM and CRM, where the knowledge management process is applied to customer knowledge, and customer knowledge is applied to customer relationship management operations. With the emergence of big data as the latest phase in the evolution of technology in business, CKM strategies need to be adjusted to meet the new challenges, changing from an internal organizational focus to new external channels such as social media and machine communications. This paper explores …