Abstract
<p>One common multi-criteria decision making (MCDM) technique is the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), which is frequently applied in several application fields. Finding an ideal and an anti-ideal solution, which are then utilized to determine the distances between the alternatives and the ideal solution, is the foundation of the TOPSIS approach. The method then ranks the alternatives according to their closeness to the ideal solution. TOPSIS is able to handle both quantitative and qualitative criteria, however, the method can be sensitive to the weight of the criteria, and the ranking results can be influenced by the choice of the reference alternatives. This paper provides an overview of the TOPSIS method, its applications, main characteristics and limitations. The paper also provides step-by-step instructions on how to apply the TOPSIS method, including the determination of the criteria weights, the construction of the decision matrix, and the calculation of the TOPSIS scores.</p>
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
