Business Research Methods, Part III Credit card fraud research must be executed in order for credit card companies to understand fraud incidences and determine the best practices that should be implemented into the customer service towards fraud affected customers. Once research is concluded via survey, the data must be obtained, and a descriptive statistical analysis of the results data can be calculated. This data is analyzed using hypothesis testing and confidence interval analysis. Shortcomings or limitations of the research method must also be explained, as well as any changes that should have been made in retrospect.
Research Questions Team A’s business research of credit card fraud affected customers has presented itself as a challenge. The team struggled throughout the five weeks because of the inability to accurately identify two specific research questions in which the research design would provide relevant data to answer the questions. During the initial week of research, Team A declared the following as the research questions: (1) Based on the existing communication with customers, which methods have been the least effective and which methods have been the most effective? (2) Is the relationship of credit card customers and fraud related transactions important enough for a large banking organization to consider improving their methods of communication with existing customers to maintain a satisfactory level of customer service in this area? Team A discovered that these questions were not pertinent to perform the necessary research required and have frivolously attempted to alter the research questions to better suit the research design. They have finally concluded that the original questions should have been: (1) For fraud affected customers, is there a difference between customers who were informed of fraud prior to becoming a credit card member compared to customers who were not informed of fraud? (2) Is there a difference between customers who were informed of fraud via email, phone, or face-to-face with a credit card specialist? These two research questions were the foundation in order to understand the communication between the credit card company and the customer, as well as the effectiveness of how the communication was presented to the customer. A total of 40 fraud affected customers were surveyed via e-mail for their input. The survey allowed the customers to provide whether they received necessary fraud information prior to becoming a credit card member with the company with a “Yes” or “No” response. The survey also gave the customers the opportunity to rank certain instances on a scale of one to five as “Very Unsatisfied”, “Unsatisfied”, “Neutral”, “Satisfied”, and “Very Satisfied” in regards to the level of customer service they received. Another question that was asked was in regards to the modality of how they were informed of fraud with the choices of “Face-to-face”, “Email”, “Phone”, and “Other”. From these choices, the survey then asked how affective this modality was using the scale of one to five again. Additional questions were asked, but the preceding questions were the most relevant to complete the study. For research question one, the independent variable was the level of communication of fraud and the dependent variable was the incident of fraud. The independent variable for question two was the modality of communication from credit card company to customer, and the dependent variable was the level of customer satisfaction with this modality.
Descriptive Statistical Analysis Results
In providing descriptive…