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Analysis of strengths, weaknesses, opportunities and threats (SWOT) is a method to formulate the strategy. Although the SWOT analysis successfully provides the key factors of the problem, it has some drawbacks in selecting appropriate strategy for the evaluation and final decision steps. During...
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The Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) is a well-known Multi-Attribute Decision Making (MADM) method that is used to identify the most attractive alternative solution among a finite set of alternatives based on the simultaneous minimization of the distance...
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Many real-world decision problems involve conflicting systems of criteria, uncertainty and imprecise information. Some also involve a group of decision makers (DMs) where a reduction of different individual preferences on a given set to a single collective preference is required. Multi-criteria...
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Data Envelopment Analysis (DEA) has been widely applied in measuring the efficiency of Decision-Making Units (DMUs). The conventional DEA has three major drawbacks: a) it does not consider Decision Makers’ (DMs) preferences in the evaluation process, b) DMUs in this model are flexible in...
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