Comparative Analysis on Multiple Criteria Decision Making Techniques: An Application

Abstract

Multi-Criteria Decision Making (MCDM) Problems are used for solving complex problems with quantitative and qualitative criteria. These methods include decision, modeling and analysis process. Decision making activity is the process of determining the optimal decision among the alternatives under the condition of meeting the intended criteria. MCDM has a wide range of application areas. It may be used in problem solving in career planning, personal decision at micro scale, investment decisions at enterprises or strategic decisions at medium scale, and making economic decisions at macro scale. Many studies may be found in literature in which MCDM methods are used. The aim of this study is application and comparison of three MCDM methods such as AHP, ELECTRE and TOPSIS on career planning. The study first gives theoretical information about the three widely used MCDM methods, Analytic Hierarchy Process (AHP), ELECTRE and TOPSIS and then compares the results from the three analysis types in order to find the optimal decision by means of an application.

Keywords: Multi Critera Decision Making, Career Planning, AHP, ELECTRE, TOPSIS

DOI: 10.7176/JSTR/5-11-07