Probability, random processes, and estimation theory for engineers
Probability, random processes, and estimation theory for engineers
Estimating security price derivatives using simulation
Management Science
Commissioned Paper: Telephone Call Centers: Tutorial, Review, and Research Prospects
Manufacturing & Service Operations Management
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In this paper we depart from a set of simple assumptions regarding the behavior of a pool of customers associated with an enterprise's contact center. We assume that the pool of customers can access the contact center through an array of communication modalities (e.g., email, chat, web, voice). Based on these assumptions we develop a model that describes the volume of demand likely to be observed in such an environment as a function of time. Under the simple initial assumptions, the model we develop corresponds to a mean-reverting process of the type frequently used in energy options pricing. When independence assumptions are relaxed and correlations between user behavior are included, a jump-diffusion component appears in the model. The resulting model constitutes the potential foundation for key simulation-based analyses of the contact center, like capacity modeling and risk analysis.