decision analysis

Model Perspective

Mar 2, 2025 · Fundamentals

How Tornado Charts Reveal the Most Impactful Factors in Sensitivity Analysis

This article explains the core concepts and methods of sensitivity analysis, distinguishes local and global approaches, outlines the simple variation method, and demonstrates how to construct and interpret a tornado chart—complete with a real‑world example of market factors affecting sales—providing clear guidance for robust model evaluation.

decision analysismodelingrisk assessment

0 likes · 7 min read

How Tornado Charts Reveal the Most Impactful Factors in Sensitivity Analysis

Model Perspective

Aug 30, 2024 · Fundamentals

Unlocking Decision Power: How the Perron‑Frobenius Theorem Drives AHP

This article explains the Perron‑Frobenius theorem, its role in analyzing positive and non‑negative matrices, and how it underpins the Analytic Hierarchy Process by ensuring unique dominant eigenvalues and eigenvectors, with examples ranging from decision‑making to Markov chains, population models, and PageRank.

AHPPerron-Frobeniusdecision analysis

0 likes · 9 min read

Unlocking Decision Power: How the Perron‑Frobenius Theorem Drives AHP

Model Perspective

Jun 4, 2024 · Fundamentals

How Analytic Network Process (ANP) Beats AHP for Complex Decisions

This article introduces the Analytic Network Process (ANP), an extension of the Analytic Hierarchy Process that handles interdependent criteria through network modeling, outlines its mathematical framework and step-by-step procedure—including structuring, matrix construction, weight calculation, supermatrix formation, and final decision—illustrated with a project‑management software selection example.

AHPANPNetwork Modeling

0 likes · 5 min read

How Analytic Network Process (ANP) Beats AHP for Complex Decisions

Model Perspective

Sep 18, 2023 · Fundamentals

Choosing the Perfect Option: A Practical Guide to the TOPSIS Method

This article introduces the TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method, explains its mathematical modeling steps, and demonstrates its application through a smartphone selection example, highlighting how to rank alternatives by their closeness to an ideal solution.

TOPSISdecision analysismulti-criteria decision making

0 likes · 7 min read

Choosing the Perfect Option: A Practical Guide to the TOPSIS Method

Model Perspective

Mar 15, 2023 · Operations

How to Rank Multi‑Criteria Options with the Rank‑Sum Ratio Method (Python Demo)

The article explains the rank‑sum ratio method for multi‑criteria decision making, walks through its step‑by‑step procedure, demonstrates a product evaluation case, and provides a full Python implementation to compute standardized scores and final rankings.

Evaluation MethodMulti-criteria DecisionRank Sum Ratio

0 likes · 6 min read

How to Rank Multi‑Criteria Options with the Rank‑Sum Ratio Method (Python Demo)

Model Perspective

Mar 11, 2023 · Fundamentals

Mastering the Analytic Hierarchy Process (AHP) with Python: Step‑by‑Step Guide

This article introduces the Analytic Hierarchy Process (AHP), explains its hierarchical modeling, mathematical foundations, step‑by‑step implementation, and provides complete Python code for constructing comparison matrices, calculating weights, and performing consistency checks to ensure reliable results.

Analytic Hierarchy ProcessConsistency Ratiodecision analysis

0 likes · 9 min read

Mastering the Analytic Hierarchy Process (AHP) with Python: Step‑by‑Step Guide

Model Perspective

Nov 6, 2022 · Operations

Mastering TOPSIS: A Step-by-Step Guide to Multi-Criteria Decision Making

This article explains the TOPSIS technique, detailing its origin, core principle of distance to ideal solutions, and a clear seven-step procedure for applying it to rank alternatives in multi‑criteria decision problems.

TOPSISdecision analysismulti-criteria decision making

0 likes · 4 min read

Mastering TOPSIS: A Step-by-Step Guide to Multi-Criteria Decision Making

Model Perspective

Jun 28, 2022 · Fundamentals

Unlocking Decision-Making: How Utility Theory and Risk Evaluation Guide Choices

This article explains how utility theory and risk evaluation influence decision making, describing the concept of utility, different types of utility functions, and the Von Neumann‑Morgenstern method for constructing utility curves through psychological experiments.

decision analysiseconomicsrisk evaluation

0 likes · 13 min read

Unlocking Decision-Making: How Utility Theory and Risk Evaluation Guide Choices

Model Perspective

Jun 26, 2022 · Fundamentals

What Is Decision Analysis? Core Concepts, Elements, Types, and Steps

This article explains decision analysis by defining its concept, outlining basic elements such as decision makers, goals, alternatives, natural states, outcomes and criteria, classifying decisions into deterministic, risk, competitive and sequential types, and describing the five-step scientific decision‑making process.

decision analysisdecision makingmanagement fundamentals

0 likes · 7 min read

What Is Decision Analysis? Core Concepts, Elements, Types, and Steps

Model Perspective

May 25, 2022 · Fundamentals

Applying Fuzzy Comprehensive Evaluation: Steps and Real‑World Case

This article explains the fuzzy comprehensive evaluation method, outlines its five-step procedure for handling vague criteria, and demonstrates its application through a university professor promotion case, illustrating how to compute and interpret the fuzzy evaluation results.

case studycomprehensive evaluationdecision analysis

0 likes · 4 min read

Applying Fuzzy Comprehensive Evaluation: Steps and Real‑World Case

Model Perspective

May 15, 2022 · Fundamentals

Mastering TOPSIS: A Step‑by‑Step Guide to Multi‑Criteria Decision Making

TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) is a widely used multi‑criteria decision‑making method that ranks alternatives by their geometric distance to an ideal positive solution and farthest from a negative solution, with a straightforward seven‑step process from data normalization to final ranking.

RankingTOPSISdecision analysis

0 likes · 4 min read

Model Perspective

May 13, 2022 · Fundamentals

How Middle School Students Can Build Simple Decision Models for Choosing a Laptop

This article explores how eighth‑grade students can tackle a real‑world laptop selection problem using basic evaluation models—such as filtering, rank‑sum, rank‑product, and weighted rank‑product methods—while illustrating how teachers can guide model refinement and introduce more advanced techniques like AHP and entropy weighting.

decision analysiseducationmathematical modeling

0 likes · 7 min read

How Middle School Students Can Build Simple Decision Models for Choosing a Laptop