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A Brief Survey of Decision Making Methods and its Applications in Various Domains
Published in Diva Enterprises Private Limited
2016
Volume: 9
   
Issue: 8
Pages: 1079 - 1082
Abstract
Decision making is the study of finding and selecting alternatives in order to obtain the best solution based on several criteria and taking into account the decision-maker’s expectations. The decisions are made in an environment where the collection of information, alternatives, preferences are available. Judging the alternatives characterized by multiple criteria is difficult in decision making. To overcome this, tools to help decision making with multiple criteria which is termed as Multi criteria decision making methods gained popularity. There are two levels in multi-criteria decision making which includes managerial level and engineering level. The level which defines the goals and selects the final optimal alternative is managerial level and the level which defines the alternatives and performs ranking of alternatives is engineering level. In this paper, several multi criteria decision making methods are reviewed and their applications are surveyed in detail. © RJPT All right reserved.
About the journal
JournalResearch Journal of Pharmacy and Technology
PublisherDiva Enterprises Private Limited
ISSN0974-3618
Open AccessNo