Multi-criteria decision making: an overview and a comparative discussion

Abstract

An attempt to provide an overview of the different techniques in the field of multi-criteria decision-making is made in this chapter. First, some basic terminologies are reviewed. A classification of the various methods is outlined. Some of the basic concepts common to many methods are presented. The methods covered in the overview include the Multi Attribute Utility Theory, the Analytic Hierarchy Process, the ELECTRE methods, PROMETHEE methods, Fuzzy Set Theory, Multi-objective Linear Programming, Goal Programming, the Aspiration-level Interactive Method, Compromise Programming, and Data Envelopment Analysis. The different methods are compared in terms of several vital parameters. Finally, a link to the context of Big Data is provided in line with the theme of this book.