BankUSA
BankUSA
From the second case study, determine the challenges faced by the Help Desk at BankUSA and suggest strategies to mitigate them.
BankUSA faces the challenges of having a large call volume and being under staffed to handle that volume. In order to mitigate these challenges, BankUSA would need to hire more staff in addition to the 20 employees that are already on the payroll. With the additional employees, the bank can now divide the CSR’s into various teams to handle specific customer issues that way the calls are automatically routed to a CSR who is equipped to handle the matter at hand. With the additional employees hired, this is aid in cutting down the four minute wait time that was an issue for a caller. With these changes in place, the bank will be able to retain it’s customers and attract new business as well.
Using the data on call volume in the case, select a forecasting model to forecast the short-term demand. Justify why this model was selected over other forecasting models. Support your position.
A moving average (MA) forecast is an average of the most recent “k” observations in a time series. I think this forecast model would work best to forecast the short-term demand of the bank. MA methods work best for short planning horizons when there is no major trend, seasonal, or business cycle patterns, that is, when demand is relatively stable and consistent. The moving average provides you with a straight forward calculation of the trends for a given period of time.
Collier, D.A., & Evans, J.R. (2013). OM: 2013 custom edition (4th ed.). Mason, OH: South- Western Cengage Learning.
From the second case study, determine the challenges faced by the Help Desk at BankUSA and suggest strategies to mitigate them.
BankUSA faces the challenges of having a large call volume and being under staffed to handle that volume. In order to mitigate these challenges, BankUSA would need to hire more staff in addition to the 20 employees that are already on the payroll. With the additional employees, the bank can now divide the CSR’s into various teams to handle specific customer issues that way the calls are automatically routed to a CSR who is equipped to handle the matter at hand. With the additional employees hired, this is aid in cutting down the four minute wait time that was an issue for a caller. With these changes in place, the bank will be able to retain it’s customers and attract new business as well.
Using the data on call volume in the case, select a forecasting model to forecast the short-term demand. Justify why this model was selected over other forecasting models. Support your position.
A moving average (MA) forecast is an average of the most recent “k” observations in a time series. I think this forecast model would work best to forecast the short-term demand of the bank. MA methods work best for short planning horizons when there is no major trend, seasonal, or business cycle patterns, that is, when demand is relatively stable and consistent. The moving average provides you with a straight forward calculation of the trends for a given period of time.
Collier, D.A., & Evans, J.R. (2013). OM: 2013 custom edition (4th ed.). Mason, OH: South- Western Cengage Learning.