Informed and Confident Decisions: How MCDM Can Help Experts Solve Complex Decision-Making Problems Faster
MCDM is a versatile tool that can be used to support decision-making in a wide range of situations. By using MCDM methods, professionals can help organizations to identify and evaluate all of the relevant criteria, and to make decisions in a way that is fair and transparent. Professionals who are skilled in MCDM are in high demand in a variety of industries.
Published in
13 min readOct 2, 2023
Multi-criteria decision-making (MCDM) is a branch of operations research (OR) that deals with decision-making situations where multiple and often conflicting criteria are involved. MCDM methods can be used to support decision-makers in identifying, evaluating, and ranking alternatives in a systematic and rational way. MCDM methods can be used to solve a wide range of problems in operations research, including:
- Product selection and design: MCDM can be used to select the best product to develop or design, based on multiple criteria such as cost, quality, and customer demand.
- Resource allocation: MCDM can be used to allocate…
