COMPARATIVE ANALYSIS OF M/1/3 AND M/3/3 AS A MEANS OF DECISION MAKING IN BANKING SECTOR

ABSTRACT This research Comparative Analysis of M/M/1/3 and M/M/3/3 as a Means of Decision Making in Banking Industry . GTBank and United Bank for Africa in Ilorin kwara state were used as a case study. This study is limited to queuing system of the customers, data was obtained on the arrivals and service, operate for the period of 9.00am to 3.00pm on a daily basis for the interval of 60minutes for 10days. For this study direct observation was used to obtain the number of customers arrived and numbers of customers serviced. The result shows that at any point in time there will be at least 6 customers in GTB and 8 customers in UBA that is 6 customers in M/1/3 and 8 customers in M/3/3. At least there will be 5 and 7 customers on the queue for M/1/3 and M/3/3 respectively. At any point in time, a customer spent 12minutes 6seconds on the queue for M/1/3 and a customer spent 16minutes 56 seconds on the queue in M/3/3 .This implies that the number of time a customer spent in M/1/3 is less than the time spent in M/3/3 . Also, the utilization factor ρk ? 0.5,for both system, there is a building up of customers on the queue. That is both system are efficient and under control Therefore M/1/3 is more preferred to M/3/3 in terms of time spent in the system, number on the queue and efficiency. We thereby recommended that other banks should emulate the use of M/1/3 because it make the services more effective and if possible to operate M/1/3 in ATM as well