Data Analysis on Global Stratification

This chapter will guide you through the modeling, uses, and trends in data analysis and data science. The authors focus on the importance of pictorial data in replacement of numeric data. In most situations, graphical representation of data can present the information more distinctly, informative, and in less space than the same information requires in sentence form. This chapter provides a brief knowledge about representing data to more understandable form such that any person whether layman or not can understand it without any difficulty. This chapter also deals with the software Tableau which we use to convert the table data into graphical data. This Chapter contains 11 heat maps related to the world economies and their detailed study on several different topics. It will also give light on the basics of Python Language and its various algorithm studies to compare all the world economies based on their development.

Promethee

This chapter decodes the techniques of PROMETHEE (Preference Ranking Organization Method for Enrichment Evaluation) in MCDA. Rigorous literature review will assist in deciphering and rationalising the progressions in the techniques since the inception of PROMETHEE. The chapter shall extensively review literature on PROMETHEE and shall concisely explore relevant cases. The literature shall include journal articles, research paper based on case studies and conference proceedings concentrating mainly in the discipline of management science. The chapter will untangle the essential steps that will simplify the mathematical component used in PROMETHEE I and PROMETHEE II with a hypothetical case and a practical case. In the final phase of the chapter the limitations of PROMETHEE I and II shall be accentuated.

Modified TOPSIS Method With Banking Case Study

In this chapter, an alternative measure to Euclidean distance measurement is proposed which is used to calculate positive and negative ideal solutions in the traditional TOPSIS method. Lp Minkowski family and L1 family distance measures were used for this purpose. By taking the averages of the distance measurements in the Lq and L1 families, more general and accurate level units were tried to be obtained. Thus, it was shown that TOPSIS method can give different results according to the distance measure used. The importance of the distance measurement unit was emphasized to rank the alternatives correctly. The implementation and evaluation of the proposed method was carried out through the financial performance of the deposit bank operating in the Turkish Banking Sector. It was seen that the rankings of the alternatives changed according to the distance measurements used. By referring to the distance measurements that can be used in the TOPSIS method, it was shown that the rank of the alternatives can vary according to the preferred distance measure.

Nudge Theory and Decision Making

This chapter examines the theoretical underpinnings of nudge theory and makes a case for incorporating nudging into the decision-making process in corporate contexts. Nudging and more broadly behavioural economics have become buzzwords on account of the seminal work that has been done by economists and highly publicized interventions employed by governments to support national priorities. Firms are not to be left behind, however. What follows is extensive documentation of such firms that have successfully employed nudging techniques. The examples are segmented by the nudge recipient, namely - managers, employees, and consumers. Firms can guide managers to become better leaders, employees to become more productive, and consumers to stay loyal. However, nudging is not without its pitfalls. It can be used towards nefarious ends and be notoriously difficult to implement and execute. Therefore, nudges should be rigorously tested via experimentation and should be ethically sound.

Application of ISM in the Manufacturing Sector

This chapter discusses the application of Interpretive Structural Modelling (ISM) in the manufacturing sector. Authors provide a brief about ISM and its usage in the current scenario, and a comprehensive literature review that sheds light on the methodology used over the years in the application of ISM. The chapter assesses the method's advantages and disadvantages. It introduces the technique of ISM in the manufacturing sector, and discusses the applications of ISM in the manufacturing sector along the review of literature.

Fuzzy Failure Mode and Effects Analysis in a Pharmaceutical Production Process With Fuzzy PROMETHEE Method

Failure mode and effects analysis (FMEA) is a quality improvement technique that defines potential errors and ranks them according to their degree of effectiveness in both service and production processes. While enterprises want to produce quality products or services, they also strive to reduce the cost of quality. At this point, the FMEA method provides a proactive approach to decision makers by ensuring that the types of errors in products sent to both internal and external customers and the probability of occurrence of these errors are predicted. In recent years, the FMEA method has begun to be evaluated in the frame of fuzzy logic to obtain more effective results. In this way, results have become realistic and objective. This chapter analyzes pharmaceutical production process to define potential error types and the effect of these errors. Risk priority order of error types is determined by Fuzzy PROMETHEE Method.

TOPSIS vs. VIKOR

Evaluating multiple criteria and selecting and/or ranking alternatives is called Multi Criteria Decision Making (MCDM). These methods which are considered important decision-making tools for decision makers due to their multidisciplinary nature have been developed over the years. As a result, there are many MCDM methods in the literature. In this chapter, TOPSIS and VIKOR, widely used in the literature, will be discussed. The major reason for examining these two methods is that the aggregating function used by both methods is similar because VIKOR method uses linear normalization and TOPSIS method uses vector normalization. The process of the methods is shown on a data set that includes the Human Development Index (HDI) indicators, which have been developed to measure the development levels of countries as well as the unemployment indicator. It was observed that the methods yielded similar results.

Exploring Key Success Factors of Indian Pharmaceutical Supply Chain Using Interpretive Structural Modelling

Indian pharmaceutical industry is witnessing enormous challenges due to varying patent laws, increasing demand, and continuous pressure from the government to provide medicines at a lower price. To overcome these challenges, there is a need for a more robust supply chain (SC) which will help in information sharing and reduce overall cost. The chapter determines the key drivers of Indian pharmaceutical SC, and draws the attention of industry, stakeholders, and top management to emphasise on these drivers to enhance the performance and profitability of SC. An interpretive structural modelling-based approach has been employed to model the pharmaceutical SC key drivers. The 16 key parameters have been identified across all major dimensions such as SC, HR, & organizational, market, technology, and reverse logistics. Further fuzzy MICMAC analysis is done to categorize based on their driving and dependence power. The factors like collaborative relationship among SC partners, quality regulations, third party logistics, and end-to-end responsive SC are found to be more important enablers.

Entropy-Based VIKOR Method and a Case Study

Due to the rapid advances in Internet technology, the number of websites and the amount of information obtained from websites are increasing day by day. Internet users want to access the website and the information they need more easily and quickly. This is also the case getting news so effectiveness of newspapers' websites in terms of content and the speed at which pages are opened is also an important indicator for users. The purpose of this chapter is to investigate the technical and popularity performance of the newspapers' websites in Turkey. The study will show the applicability of an objective weight-determining method, Entropy technique, for finding the weights of criteria and VIKOR for evaluating websites' technical and popularity performance. As a result of the evaluation, the best websites were determined in terms of technique and popularity, and ranked in terms of overall performance.

Multi-Criteria Decision-Making Process for Decentralized Healthcare Services Assessment

Home health service, as decentralization form in many health systems, has an objective to deliver high-quality, long-term care inside the patient's home. However, management of those services is about handling a complex decision problem related with the care delivery process composed by technologies, patients, structures, and professionals. Consequently, the decision problem requires finding effective ways to involve assessment and management of several criterias to achieve continuous quality improvement. For this purpose, its useful implements structured approaches with multiple criteria decision analysis (MCDA) techniques. Nevertheless, there are many MCDA methods available and these differ not just in how they are put into practice but also in terms of fundamental theories underpinning them. Therefore, this chapter contributes with a methodological approach to establish a decision analysis for assessing home health services through MACBETH and ULOWA techniques. To demonstrate the feasibility of the methodology, a study case was applied into a homecare service.