Application of AHP Method in Decision-Making Process

Abstract

The paper deals with the application of method – analytical hierarchy process in action of decision-making in the field of innovation management of industrial companies. Analytical hierarchy process is a tool for application of exact methods in process of decision-making. The paper contains theoretical description of analytical hierarchy process and subsequently also application of this method in the field of innovation management. Method of analytical hierarchy process brings into action of decision-making objectivity, exactness, and also the quality of the evaluation. Perhaps the biggest advantage of this method is that this method allows to evaluate comprehensively all the criteria of alternative solutions​. This paper aims to highlight the widespread use of method – analytical hierarchy process in the decision-making process, including in the field of innovation management.