Search results
Results from the WOW.Com Content Network
Best Worst Method (BWM) is a multi-criteria decision-making (MCDM) method that was proposed by Dr. Jafar Rezaei in 2015. [1][2] The method is used to evaluate a set of alternatives with respect to a set of decision criteria. The BWM is based on pairwise comparisons of the decision criteria. That is, after identifying the decision criteria by ...
In this example a company should prefer product B's risk and payoffs under realistic risk preference coefficients. Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine).
Weighted sum model. In decision theory, the weighted sum model (WSM), [1][2] also called weighted linear combination (WLC) [3] or simple additive weighting (SAW), [4] is the best known and simplest multi-criteria decision analysis (MCDA) / multi-criteria decision making method for evaluating a number of alternatives in terms of a number of ...
Aggregate function. In database management, an aggregate function or aggregation function is a function where multiple values are processed together to form a single summary statistic. (Figure 1) Entity relationship diagram representation of aggregation. Common aggregate functions include: Others include: Formally, an aggregate function takes ...
The decision-matrix method, also Pugh method or Pugh concept selection, invented by Stuart Pugh, [1] is a qualitative technique used to rank the multi-dimensional options of an option set. It is frequently used in engineering for making design decisions but can also be used to rank investment options, vendor options, product options or any ...
Multicriteria classification. In multiple criteria decision aiding (MCDA), multicriteria classification (or sorting) involves problems where a finite set of alternative actions should be assigned into a predefined set of preferentially ordered categories (classes). [1] For example, credit analysts classify loan applications into risk categories ...
Microsoft Excel is a spreadsheet editor developed by Microsoft for Windows, macOS, Android, iOS and iPadOS. It features calculation or computation capabilities, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications (VBA). Excel forms part of the Microsoft 365 suite of software.
TOPSIS. The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method, which was originally developed by Ching-Lai Hwang and Yoon in 1981 [1] with further developments by Yoon in 1987, [2] and Hwang, Lai and Liu in 1993. [3] TOPSIS is based on the concept that the chosen alternative ...