MCDA — Multi-Criteria Decision Making in e-commerce
The growing markets of e-commerce created renewed interest in methodologies that were developed more than thirty years ago and found broad usage in various fields like Operations Research, Decision Theory, Artificial Intelligence, Micro-Economic Theory, etc. One such methodology is multi-criteria decision-making or analysis (MCDA). It can be used for making decisions about options like goods and services, and plays an import role in e- as well as m-commerce markets. We review the main techniques of MCDA like SCORING (SAW), TOPSIS, AHP, PROMETHEE, DEA and apply them to one particular decision example using a software program specifically developed for this purpose, available online at http://mcda.dynalias.org. We carefully compare the methods presented, and propose a hybrid technique called “GiUnTa” to reconcile the differing rankings obtained with each procedure. A similar approach and software solution can be used in real life decision situations that require fast consideration of multiple criteria over a large number of alternatives.
KeywordsData Envelopment Analysis Data Envelopment Analysis Model Efficiency Frontier Screen Shot Simple Additive Weighting
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