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A Novel Hybrid Correlation Measure for Probabilistic Linguistic Term Sets and Crisp Numbers and Its Application in Customer Relationship Management

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  • Xiao Fang Zhang

    (Business School, Sichuan University, Chengdu 610064, China)

  • Ze Shui Xu

    (Business School, Sichuan University, Chengdu 610064, China)

  • Pei Jia Ren

    (Business School, Sichuan University, Chengdu 610064, China)

Abstract

With the development of technology, people have entered the Big Data era, where the insurance companies meet with opportunities for their massive customer data. To make full use of these data and promote the insurance companies’ benefits, this paper aims to propose a method to reasonably measure the similarity among customers and segment them. However, there exists a challenge to deal with different types of data, i.e., linguistic data and crisp numbers, in customer relationship management. Considering that probabilistic linguistic term set possesses an apparent superiority in reducing linguistic information losses during the process of customer evaluation and data processing, we give a novel correlation measure of two data sequences with both crisp numbers and probabilistic linguistic term sets. Furthermore, we put forward the weighted form of the correlation measure to increase its application elasticity, and then apply the proposed correlation measures to insurance companies’ customer relationship management based on an improved clustering algorithm. Finally, a numerical example is given to illustrate the validity of our correlation measures.

Suggested Citation

  • Xiao Fang Zhang & Ze Shui Xu & Pei Jia Ren, 2019. "A Novel Hybrid Correlation Measure for Probabilistic Linguistic Term Sets and Crisp Numbers and Its Application in Customer Relationship Management," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(02), pages 673-694, March.
    • Handle: RePEc:wsi:ijitdm:v:18:y:2019:i:02:n:s021962201950007x
    DOI: 10.1142/S021962201950007X
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    References listed on IDEAS

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    1. Xu, Zeshui, 2005. "Deviation measures of linguistic preference relations in group decision making," Omega, Elsevier, vol. 33(3), pages 249-254, June.
    2. Na Zhao & Zeshui Xu & Zhiliang Ren, 2018. "Some Approaches to Constructing Distance Measures for Hesitant Fuzzy Linguistic Term Sets with Applications in Decision-Making," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 17(01), pages 103-132, January.
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    Citations

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    Cited by:

    1. Huchang Liao & Xiaomei Mi & Zeshui Xu, 2020. "A survey of decision-making methods with probabilistic linguistic information: bibliometrics, preliminaries, methodologies, applications and future directions," Fuzzy Optimization and Decision Making, Springer, vol. 19(1), pages 81-134, March.
    2. Xiangqian Feng & Xiaodong Pang & Lan Zhang, 2020. "On consistency and priority weights for interval probabilistic linguistic preference relations," Fuzzy Optimization and Decision Making, Springer, vol. 19(4), pages 529-560, December.

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