For banks, the CSIPR model captures customer opinions about essential components of the customer's experience. The cause-and-effect relationship framework shows each component and how it impacts satisfaction, in this matter we learn how to increase satisfaction by assessing the correct componet to positively improve your business bottom line accurately and effectively.
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In its second annual presentation, the banking sector is measured with hundreds of customers surveys that capture their most recent experiences with checking, savings, or loan services offered by their preferred bank. The customer survey data serve as inputs to CSIPR proprietary patented model, which embeds customer satisfaction within a series of cause-and-effect relationships.
The Index is constructed by multi-variable aggregates each creating a latent variable composed of several questions that are weighted in the model. The questionarie measure what affects satisfaction as well as the effects of satisfaction. The scores are reported on a 0 to 100 value scale. The standard model methodology quantifies the strength of each variable relationship on the left to those were the arrow points on the right. These arrows are defined as “impacts.” The model is self-weighting to use the full advantage of scientific rigor to explain customer satisfaction CSIPR on customer loyalty and therefore retention. An examination of the latente variables and impacts directions , users can determine what drivers of satisfaction , if improved, effects most on customer loyalty.
Quality & Satisfaction Research Institute
Driving Product & Service Excellence