scholarly journals Assessment of the Sustainability of Countries at Worldwide

2017 ◽  
Vol 7 (4) ◽  
pp. 51 ◽  
Author(s):  
Janaina M. de A. Dias ◽  
Eduardo G. Salgado ◽  
Sandro Barbosa ◽  
Augusto D. Alvarenga ◽  
Jean M. S. Lira
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Ahp Method ◽  
Research Results ◽  
Analytical Process ◽  
Order Preference

For the quantification and ranking of sustainablility reliable indicators are needed in the economic, social and environmental areas. For this, decision-making methods have been used to identify and rank the most important indicators. However, it is important to know which method to use, since this choice can modify the result. Therefore, two methods of multi-criteria decision making were evaluated: Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and TOPSIS with Hierarchical Analytical Process (AHP). It was observed a difference between the methods tested, where the TOPSIS-AHP method presented better performance as a function of the weights assigned by the specialists. The research results demonstrated which countries have a more balanced sustainable development in environmental, social and economic levels together. In this case, the three most sustainable countries are Switzerland, Sweden and Norway. Additionally this research shows which countries are more sustainable taking into account each indicator separately. It is expected that the results provide a basis in decision-making and it contribute to the best choices in all aspects of sustainability.

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.

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.

Identification of User Preference for Multi-Criteria Reporting in Business Intelligence

2018 ◽  
pp. 16-47
Author(s):  
Martin Aruldoss ◽  
Miranda Lakshmi Travis ◽  
Prasanna Venkatesan Venkatasamy
Keyword(s):  
Decision Making ◽  
Business Intelligence ◽  
User Preference ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Order Preference ◽  
Banking Business ◽  
Different Levels ◽  
Support Decision Making

Business intelligence (BI) is an integrated set of tools used to support the transformation of data into information in order to support decision making. Among different functionalities, reporting plays a significant role that provides information to its readers to make better decisions. BI lacks user-specific reporting to the different levels of users of an organization. Different users require different kinds of reporting with respect to different requirement (criteria) in an organization. A multi-criteria reporting (MCR) finds the suitable information to suitable user based on the multiple conflicting preferences of a user. Technique for order preference by similarity to ideal solution (TOPSIS) is the most popularly applied multi-criteria decision-making (MCDM) technique selected to identify different levels of user preference for MCR. Banking business is considered as a case study to identify user preference for MCR. This research also designs evaluation metrics for TOPSIS.

scholarly journals Modelling Uncertainties in Multi-Criteria Decision Making using Distance Measure and TOPSIS for Hesitant Fuzzy Sets

2017 ◽  
Vol 7 (2) ◽  
pp. 103-109 ◽  
Author(s):  
Ismat Beg ◽  
Tabasam Rashid
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Distance Measure ◽  
Fuzzy Data ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Hesitant Fuzzy Sets ◽  
New Approach ◽  
Order Preference ◽  
Modelling Uncertainties

Abstract A notion for distance between hesitant fuzzy data is given. Using this new distance notion, we propose the technique for order preference by similarity to ideal solution for hesitant fuzzy sets and a new approach in modelling uncertainties. An illustrative example is constructed to show the feasibility and practicality of the new method.

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.

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