Monitoring and Improving Greek Banking Services Using Bayesian Networks: an Analysis of Mystery Shopping Data

Mystery shopping is a well known marketing technique used by companies and marketing analysts to
measure quality of service, and gather information about products and services. In this article, we analyse
data from mystery shopping surveys via Bayesian Networks in order to examine and evaluate the quality
of service offered by the loan departments of Greek Banks. We use mystery shopping visits to collect
information about loan products and services and, by this way, evaluate the customer satisfaction and
plan improvement strategies that will assist banks to reach their internal standards. Bayesian Networks
not only provide a pictorial representation of the dependence structure between the characteristics of
interest but also allow to evaluate, interpret and understand the effects of possible improvement
strategies.