A REVIEW ON APPLICATION OF MULTI-CRITERIA DECISION MAKING (MCDM) APPROACHES

Abstract

Abstract: In academics and business, multi-criteria approaches are becoming more popular for efficient decision-making. This systematic study explores multi-criteria techniques and provides an overview of them. Finding various uses for MCDM techniques is one of the primary goals of this effort. Multi-criteria decision-making (MCDM) strategies have shown to be useful tools when handling complex decision-making problems requiring numerous, often conflicting criteria. This review research fully examines the implementation of MCDM approaches in several domains, including environmental science, engineering, management, and public policy. The paper looks at the theoretical foundations of popular MCDM techniques, such as Analytic Hierarchy Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) etc. This analysis highlights the advantages and disadvantages of each tactic.