Comparative Analysis of the Simple WISP and Some Prominent MCDM Methods: A Python Approach

Dragiša Stanujkić,Ieva Meidute-Kavaliauskiene,Darjan Karabašević,Gabrijela Popović,Vasilios N Katsikis,Edmundas Kazimieras Zavadskas,Predrag S Stanimirović,Muzafer Saračević,Alptekin Ulutaş

doi:10.3390/axioms10040347

Abstract

This article presents a comparison of the results obtained using the newly proposed Simple Weighted Sum Product method and some prominent multiple criteria decision-making methods. For comparison, several analyses were performed using the Python programming language and its NumPy library. The comparison was also made on a real decision-making problem taken from the literature. The obtained results confirm the high correlation of the results obtained using the Simple Weighted Sum Product method and selected multiple criteria decision-making methods such as TOPSIS, SAW, ARAS, WASPAS, and CoCoSo, which confirms the usability of the Simple Weighted Sum Product method for solving multiple criteria decision-making problems.

Highlights

Multiple criteria decision-making (MCDM) is still a very actual area of operational research
Stanujkic et al [7] proposed a new MCDM approach based on the integration of the WS and WP methods, which integrates some approaches implemented in the ARAS, WASPAS, CoCoSo and MULTIMOORA methods, the Simple Weighted Sum Product (WISP) method
The WISP method is primarily proposed for solving complex DM problems that can include beneficial and non-beneficial criteria. This method can be used for solving DM problems that include only beneficial or only non-beneficial criteria

Summary

Introduction

Multiple criteria decision-making (MCDM) is still a very actual area of operational research. The following can be mentioned as some of the prominent, or newly proposed, MCDM methods, used in presented research: Technique for Order of Preference by Similarity to Ideal Solution (the TOPSIS method) [1], Multi-criteria Optimization and Compromise. Assessment (the ARAS method) method [4], the Weighted Aggregated Sum Product Assessment (the WASPAS method) [5], and the Combined Compromise Solution (the CoCoSo method) [6]. Stanujkic et al [7] proposed a new MCDM approach based on the integration of the WS and WP methods, which integrates some approaches implemented in the ARAS, WASPAS, CoCoSo and MULTIMOORA methods, the Simple Weighted Sum Product (WISP) method.

Methods

Discussion

Conclusion