scholarly journals Comparison of the Economic Performance of Turkish Republics in Central Asia with TOPSIS Method

2015 ◽  
Author(s):  
Ziya Gökalp Göktolga ◽  
Engin Karakış ◽  
Hakan Türkay
Keyword(s):  
Decision Making ◽  
Central Asia ◽  
Economic Performance ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Economic Management ◽  
Macroeconomic Indicators ◽  
Order Preference ◽  
Negative Ideal Solution

The aim of this study is to compare the economic performance of Turkish Republics in Central Asia with Multi Criteria Decision Making (MCDM) methods. Turkish Republics have been experiencing a transition from a centrally planned economy towards a market economy since their independence. In this study important macroeconomic indicators are used to determine economic performance. Economic performance evaluation of the country is an important issue for economic management, investors, creditors and stock investors. Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method outranks the countries according to the proximity of the positive ideal solution and distance of the negative ideal solution. Economic Performance of Turkish Republics in Central Asia (Azerbaijan, Turkmenistan, Kazakhstan, Kyrgyzstan, and Uzbekistan) are compared with TOPSIS method. İnvestigated with TOPSIS method countries best and worst economic performance years are detected during mentioned period and results are analyzed.

A Method Based on SMAA-Topsis for Stochastic Multi-Criteria Decision Making and a Real-World Application

2014 ◽  
Vol 13 (05) ◽  
pp. 957-978 ◽  
Author(s):  
Deniz Okul ◽  
Cevriye Gencer ◽  
Emel Kizilkaya Aydogan
Keyword(s):  
Decision Making ◽  
Drug Benefit ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Inaccurate Information ◽  
Real World Application ◽  
Shortest Distance ◽  
Order Preference ◽  
Negative Ideal Solution

Stochastic multi-criteria acceptability analysis (SMAA-2) and the technique for order preference by similarity to ideal solution (TOPSIS) are methods for evaluating alternatives with multiple criteria. SMAA is a method that is used for solving multi-criteria decision-making problems with uncertain, inaccurate information, and does not require preference information from the decision makers. The TOPSIS method is based on the principle of determining a solution with the shortest distance to the ideal solution and the greatest distance from the negative-ideal solution. This paper proposes a new method, SMAA-TOPSIS, by combining the SMAA and TOPSIS methods. The SMAA-TOPSIS method was executed for two problems: drug benefit-risk analysis and machine gun selection. This paper found that TOPSIS could be used with uncertain and arbitrarily distributed values for weights and criteria measurements by using a combination of SMAA and TOPSIS. Also, we obtained clearer and consistent SMAA outputs.

scholarly journals Decision Support System to Determine Qualified Corn using TOPSIS Method

2019 ◽  
Vol 9 (1S3) ◽  
pp. 523-532
Keyword(s):  
Decision Making ◽  
Multi Criteria Decision Making ◽  
Mathematical Form ◽  
Ideal Solution ◽  
Staple Food ◽  
Topsis Method ◽  
Food Ingredient ◽  
Hybrid Corn ◽  
Order Preference ◽  
Corn Plants

Corn is a staple food ingredient, one of the areas where people consume corn instead of rice is Southeast Sulawesi. Qualified corn is one of the superior seeds, while some types of superior corn are hybrid corn and composite corn. The TOPSIS method is one of the multi criteria decision-making methods with simple concepts and efficient competition and has the ability to measure relative performance and alternative decisions in mathematical form. To make it easier to find qualified corn, the Technique for Order preference method is used. Similarity to Ideal Solution. This is facilitating corn farmers to choose good and productive corn crop quality, applying the TOPSIS method (Technique for Order Preference by Similarity to Ideal Solution) in determining quality, to help provide alternatives in m determine qualified corn plants. Based on the results of research conducted on 10 qualified corn alternatives that had been tested, a result is obtained: V1 = 0.577350 V2 = 0.474992 V3 = 0.510529 V4 = 0.463630 V5 = 0.609622 V6 = 0.435983 V7 = 0.533048 V8 = 0.373977 V9 = 0.530333 V10 = 0.448275 From the results it can be concluded that V5 = 0.609622 had fulfilled the requirements and can be said to be good qualified corn.

The Technique for Order of Preference by Similarity to Ideal Solution Method in Fuzzy Environment

2020 ◽  
pp. 139-168
Author(s):  
Merve Cengiz Toklu
Keyword(s):  
Decision Making ◽  
Evaluation Criteria ◽  
Fuzzy Topsis ◽  
Decision Makers ◽  
Decision Making Process ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Order Preference ◽  
Fuzzy Logic Approach

Decision-making process is the selection of the most appropriate one among the alternatives. Different selection criteria are considered in the decision-making process. Simultaneous assessment of different evaluation criteria may not always be possible. Multi-criteria decision-making techniques provide an easily applicable mathematical solution in this respect. Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is one of the multi-criteria decision-making techniques. This method is used in many problems in literature and allows multiple decision makers to choose the most suitable alternative by evaluating them together with different criteria. Assessments of decision makers may include linguistic statements. In this case, the Fuzzy Logic approach can be used. In this chapter, Fuzzy TOPSIS method is explained with a detailed numerical example.

scholarly journals EVALUATION OF FINANCIAL PERFORMANCES OF SME’S LISTED IN THE BIST SME INDUSTRIAL INDEX BY USING TOPSIS MULTICRITERIA DECISION MAKING METHOD

2020 ◽  
Vol 9 (3) ◽  
pp. 63
Author(s):  
Selcuk Kendirli ◽  
Muhammet Selcuk Kaya ◽  
Mustafa Bilgin
Keyword(s):  
Decision Making ◽  
Multicriteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Total Employment ◽  
Multicriteria Decision ◽  
Statistical Institute ◽  
Ideal Solutions ◽  
Order Preference ◽  
Negative Ideal Solution

In this study, the financial performances of SMEs listed in the BIST SME Industrial Index are evaluated by using TOPSIS multicriteria decision-making method. The data of the study acquired from annual financial statements that reported between the 2016-2018 period. Financial performance ranks of SMEs are determined for each year and thus comparative financial performances of SMEs are detected.BIST SME Industrial Index is an index that includes stocks of industrial SMEs traded in BIST Stars, BIST Main, and BIST Emerging Companies markets. SMEs have great importance for the Turkish economy, with their dynamizing roles and with their crucial roles in regional development and job creation. According to the Turkey Statistical Institute data, Turkish SMEs constitute 99.8 % of all enterprises in Turkey. At the same time, Turkish SMEs provide 72.7% of total employment, 62% of total sales, and 58% of the total investments of the Turkish Economy.Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is one of the multicriteria decision-making methods that commonly used in the evaluation of financial performances of firms. The TOPSIS method is based on two main points: the positive ideal solution and the negative ideal solution. With the help of the TOPSIS method, the distances positive ideal solutions and negative ideal solutions of all options are calculated. Options are ranked according to their proximity to the positive ideal solution and their distance to the negative ideal solution. 

Applying the Multi-Criteria Decision Making Model for Ranking Commercial Banks: The Case of Vietnam

2019 ◽  
pp. 125-133
Author(s):  
Duong Truong Thi Thuy ◽  
Anh Pham Thi Hoang
Keyword(s):  
Decision Making ◽  
Commercial Banks ◽  
Decision Model ◽  
Business Models ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Decision Making Model

Banking has always played an important role in the economy because of its effects on individuals as well as on the economy. In the process of renovation and modernization of the country, the system of commercial banks has changed dramatically. Business models and services have become more diversified. Therefore, the performance of commercial banks is always attracting the attention of managers, supervisors, banks and customers. Bank ranking can be viewed as a multi-criteria decision model. This article uses the technique for order of preference by similarity to ideal solution (TOPSIS) method to rank some commercial banks in Vietnam.

scholarly journals SELECTING THE OPTIMAL RENEWABLE ENERGY USING MULTI CRITERIA DECISION MAKING

2013 ◽  
Vol 14 (5) ◽  
pp. 957-978 ◽  
Author(s):  
Abdolreza Yazdani-Chamzini ◽  
Mohammad Majid Fouladgar ◽  
Edmundas Kazimieras Zavadskas ◽  
S. Hamzeh Haji Moini
Keyword(s):  
Decision Making ◽  
Renewable Energy ◽  
Evaluation Criteria ◽  
Energy Resources ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Proposed Model ◽  
Negative Ideal Solution ◽  
Hierarchy Process ◽  
The Ideal

Renewable energies are well-known as one of the most important energy resources not only due to limited other energy resources, but also due to environmental problems associated with air pollutants and greenhouse gas emissions. Renewable energy project selection is a multi actors and sophisticated problem because it is a need to incorporate social, economic, technological, and environmental considerations. Multi criteria decision making (MCDM) methods are powerful tools to evaluate and rank the alternatives among a pool of alternatives and select the best one. COPRAS (COmplex PRoportional ASsessment) is an MCDM technique which determines the best alternative by calculating the ratio to the ideal solution and the negative ideal solution. On the other hand, analytical hierarchy process (AHP) is widely used in order to calculate the importance weights of evaluation criteria. In this paper an integrated COPRAS-AHP methodology is proposed to select the best renewable energy project. In order to validate the output of the proposed model, the model is compared with five MCDM tools. The results of this paper demonstrate the capability and effectiveness of the proposed model in selecting the most appropriate renewable energy option among the existing alternatives.

scholarly journals Sistem Pendukung Keputusan Untuk Menentukan Prestasi Akademik Siswa dengan Metode TOPSIS

2015 ◽  
Vol 2 (2) ◽  
pp. 153
Author(s):  
Amelia Nur Fitriana ◽  
Harliana Harliana ◽  
Handaru Handaru
Keyword(s):  
Academic Achievement ◽  
Decision Making ◽  
Student Learning ◽  
Ideal Solution ◽  
Topsis Method ◽  
Learning Outcomes Assessment ◽  
Average Value ◽  
Relative Preference ◽  
Utilization Data ◽  
Negative Ideal Solution

Pengambilan keputusan pada suatu lembaga/sekolah merupakan hal yang sangat penting. Kepala sekolah seharusnya mengambil sebuah keputusan berdasarkan perhitungan dan pemikiran jangka panjang agar keputusan menentukan prestasi akademik siswa yang akan diambil tidak salah. Di MA Darul Masholeh masih terdapat masalah dalam membuat laporan pembelajaran siswa, untuk menentukan siswa yang berprestasi hanya ditentukan menggunakan nilai rapot, belum adanya pemanfaatan secara optimal data laporan penilaian hasil belajar siswa, masih adanya kesulitan untuk mengetahui pencapaian dari kegiatan pembelajaran siswa. Dengan menggunakan metode TOPSIS dapat mempermudah guru untuk menentukan prestasi akademik siswasecara tepat dan cepat, dimana metode topsis adalah salah satu metode pengambilan keputusan dimana alternative yang terpilih merupakan alternatif terbaik yang mempunyai jarak terdekat dari solusi ideal positif dan terjauh dari solusi ideal negatif. Dari pengujian 20 alternative dengan 6 kriteria yaitu hafalan al-qur’an, nilai rata-rata rapot, absensi, nilai minimal, total nilai dan piagam prestasi. Dari 20 alternative di dapatkan siswa yang berprestasi yaitu diurutan pertama Wildan dengan nilai preferensi relative 0,66, Kedua Ratna (0,64), ketiga Sinta (0,55), keempat Rini (0,50), Kelima Faisal (0,38) dan terakhir Sadriyah dengan nilai preferensi relative (0,00).Decision-making in an institution/school is very important. School principals should take a decision based on the calculation and long-term thinking in order to decide on the academic achievement of students who will be taken not wrong. In MA Darul Masholeh there is still a problem in reporting student learning, to determine student achievement is only determined using rapot value, the lack of optimal utilization data reporting student learning outcomes assessment, there is still difficult to determine the achievement of student learning activities. By using TOPSIS method can simplify the teacher to determine academic achievement siswasecara precise and fast, which TOPSIS method is one method of decision-making in which the chosen alternative is the best alternative that has the shortest distance from the positive ideal solution and the farthest from the negative ideal solution. Of the 20 alternative testing with 6 criteria that memorizing the Qur'an, the average value rapot, absenteeism, minimum value, the total value and charter achievement. Of the 20 alternative in getting students who excel are listed first Wildfire with relative preference value of 0.66, the Second Ratna (0.64), third Sprott (0.55), fourth Rini (0.50), the Fifth Faisal (0.38) and the last Sadriyah with relative preference value (0.00).

scholarly journals A fuzzy multi-criteria decision-making method for purchasing life insurance in India

2021 ◽  
Vol 10 (1) ◽  
pp. 344-356
Author(s):  
Chinmaya Ranjan Pattnaik ◽  
Sachi Nandan Mohanty ◽  
Sarita Mohanty ◽  
Jyotir Moy Chatterjee ◽  
Biswajit Jana ◽  
...  
Keyword(s):  
Decision Making ◽  
Life Insurance ◽  
Complex Problem ◽  
Insurance Companies ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Insurance Company ◽  
Proposed Model ◽  
Decision Making Problem ◽  
Order Preference

Life insurance is an agreement between an insured and an insurer, where the insurer pays out a sum of money either on a specific period or the death of the insured. Now a day, People can buy a policy through an online platform. There are a lot of insurance companies available in the market, and each company has various policies. Selecting the best insurance company for purchasing an online term plan is a very complex problem. People may confuse to choose the best insurance company for buying an online term. It is a multi-criteria decision making (MCDM) problem, and the problem consists of different criteria and various alternatives. Here in this paper, a model has been proposed to solve this decision-making problem. In this model, a fuzzy multi-criteria decision-making approach combined with technique for order preference by similarity to ideal solution (TOPSIS) and it has been applied to rank the different insurance companies based on online term plans. The experimental results show that the life insurance corporation of India (LIC) gets the top rank out of 12 companies for purchasing an online term plan. A sensitivity analysis has been performed to validate the proposed model.

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