Knowledge (XXG)

Decision-making software

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DM software frees users "from the technical implementation details , allowing them to focus on the fundamental value judgements". Nonetheless, DM software should not be employed blindly. "Before using a software, it is necessary to have a sound knowledge of the adopted methodology and of the decision
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DM software can assist decision-makers "at various stages of the decision-making process, including problem exploration and formulation, identification of decision alternatives and solution constraints, structuring of preferences, and tradeoff judgements."
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The purpose of DM software is to support the analysis involved at these various stages of the decision-making process, not to replace it. DM software "should be used to support the process, not as the driving or dominating force."
37:, most DM software was spreadsheet-based, with the first web-based DM software appearing in the mid-1990s. Nowadays, many DM software products (mostly web-based) are available – e.g. see the comparison table below. 404: 143: 271: 137: 679: 939:
Wallenius, J, Dyer, JS, Fishburn, PC, Steuer, RE, Zionts, S and Deb, K (2008), "Multiple criteria decision making, multiattribute utility theory: Recent accomplishments and what lies ahead",
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In the process of helping decision-makers to rank, prioritize or choose from among alternatives, DM software products often include a variety of features and tools; common examples include:
86:(MCDM). MCDM involves evaluating and combining alternatives' characteristics on two or more criteria or attributes in order to rank, prioritize or choose from among the alternatives. 30:
for computer applications that help individuals and organisations make choices and take decisions, typically by ranking, prioritizing or choosing from a number of options.
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Most DM software focuses on ranking, prioritizing or choosing from among alternatives characterized on multiple criteria or attributes. Thus most DM software is based on
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Wallenius, J, Dyer, JS, Fishburn, PC, Steuer, RE, Zionts, S and Deb, K (1992), "Multiple criteria decision making, multiattribute utility theory: The next ten years",
596: 591: 126: 953: 131: 48:, and so is often referred to as "decision analysis" or "multi-criteria decision-making" software – commonly shortened to "decision-making software". Some 984: 696: 97: 691: 89:
There is currently a great deal of interest in quantitative methods for decision making. Many decision analysts argue for multi-attribute
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as the gold standard to which other methods should be compared, based on its rigorous axiomatic basis. Some other MCDM methods include:
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There are significant differences between these methods and, accordingly, the DM software implementing them. Such differences include:
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Weistroffer, HR, and Li, Y, "Multiple criteria decision analysis software", Ch 29 in: Greco, S, Ehrgott, M and Figueira, J, eds,
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Figueira, J, Greco, S and Ehrgott, M, "Introduction", Ch 1 in: Figueira, J, Greco, S and Ehrgott, M, eds,
372: 682:. The software packages listed in the survey range from free to commercial or enterprise-level packages. 999:"PriEsT: an interactive decision support tool to estimate priorities from pairwise comparison judgments" 725:
Dyer, JS (1973), "A time-sharing computer program for the solution of the multiple criteria problem",
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The extent to which incomplete rankings (relative to complete rankings) of alternatives are produced;
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A good summary of the capabilities of various software packages is available in the
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The extent to which numerical scores are used to value and/or rank alternatives;
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of alternatives and/or criteria are used to elicit decision-makers' preferences;
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An early example of DM software was described in 1973. Before the advent of the
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The number of alternatives evaluated, ranging from a few (finite) to infinite;
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Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH)
1001:. International Transactions in Operational Research. doi: 10.1111/itor.12054 266: 163: 880: 759:
Multiple Criteria Decision Making: From Early History to the 21st Century
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Institute for Operations Research and the Management Sciences (INFORMS)
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Multiple Criteria Decision Analysis: State of the Art Surveys Series
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Multiple Criteria Decision Analysis: State of the Art Surveys Series
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Preference Ranking Organization Method for Enrichment Evaluation
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Potentially All Pairwise RanKings of all possible Alternatives
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Multiple Criteria Decision Analysis: An Integrated Approach
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The extent to which the decision problem is broken into a
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The extent to which uncertainty is modeled and analyzed.
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DM software includes the following notable examples.
935: 933: 82:As mentioned earlier, most DM software is based on 997:Siraj, S., Mikhailov, L. and Keane, J. A. (2013), 906: 904: 902: 900: 793: 791: 789: 787: 785: 783: 781: 779: 777: 775: 773: 771: 769: 767: 761:, World Scientific Publishing: Singapore, 2011. 737: 735: 753: 751: 184:measurements of decision-makers' preferences; 8: 849: 847: 845: 843: 132:Multi-attribute global inference of quality 757:Koksalan, M, Wallenius, J, and Zionts, S, 697:List of concept- and mind-mapping software 238: 16:Type of software that helps make decisions 121:Elimination and Choice Expressing Reality 718: 98:Aggregated Indices Randomization Method 983:: CS1 maint: archived copy as title ( 976: 825: 823: 821: 819: 817: 815: 813: 811: 809: 807: 692:Collaborative decision-making software 232:Comparison of decision-making software 7: 855:"Decision analysis software survey" 831:"Decision analysis software survey" 14: 871:Ishizaka, A.; Nemery, P. (2013). 676:Decision Analysis Software Survey 152:for MCDM under hybrid uncertainty 52:include a DM software component. 873:Multi-Criteria Decision Analysis 187:The number of criteria included; 84:multi-criteria decision making 46:multi-criteria decision-making 1: 536:Evidential Reasoning Approach 150:Evidential reasoning approach 910:Belton, V, and Stewart, TJ, 1011:"www.creativedecisions.org" 927:, Springer: New York, 2005. 801:, Springer: New York, 2016. 707:Strategic planning software 702:Project management software 531:Intelligent Decision System 224:Group evaluation (teamwork) 1050: 112:(ANP, an extension of AHP) 104:Analytic Hierarchy Process 1029:Decision-making software 653:Analytic Network Process 227:Web-based implementation 110:Analytic network process 50:decision support systems 20:Decision-making software 914:, Kluwer: Boston, 2002. 78:Decision-making methods 544:Dempster–Shafer theory 373:Criterium DecisionPlus 881:10.1002/9781118644898 116:DEX (Decision EXpert) 558:Available on request 255:Sensitivity Analysis 220:Sensitivity analysis 171:pairwise comparisons 73:Methods and features 252:Pairwise Comparison 215:Pairwise comparison 941:Management Science 853:Amoyal, J (2018), 829:Oleson, S (2016), 743:Management Science 727:Management Science 540:Bayesian Inference 69:problem at hand." 1034:Business software 678:conducted by the 672: 671: 566:Logical Decisions 206:Software features 91:decision analysis 42:decision analysis 1041: 1013: 1008: 1002: 995: 989: 988: 982: 974: 972: 971: 965: 959:. 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Index

software
World Wide Web
decision analysis
multi-criteria decision-making
decision support systems
multi-criteria decision making
decision analysis
Aggregated Indices Randomization Method
Analytic Hierarchy Process
Analytic network process
DEX (Decision EXpert)
Elimination and Choice Expressing Reality
Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH)
Multi-attribute global inference of quality
Potentially All Pairwise RanKings of all possible Alternatives
Preference Ranking Organization Method for Enrichment Evaluation
Evidential reasoning approach
hierarchy
pairwise comparisons
interval scale
ratio scale
Pairwise comparison
Sensitivity analysis
MCDA
1000minds
PAPRIKA
Ahoona
WSM
Utility
Altova MetaTeam

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