TOPSIS Technique and Its Theoretical Background

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F19%3A00007060" target="_blank" >RIV/46747885:24310/19:00007060 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

TOPSIS Technique and Its Theoretical Background

Popis výsledku v původním jazyce

In the 21st Century, decision-making on the basis of incomplete, different or all available information is a necessity which must be faced by any entity wishing to be competitive. The Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) as one of multi-criteria decision making (MCDM) method represents a practical tool for the selection of a greater amount of alternatives (as one of the most popular, resp. most commonly used). The main contribution of this article is to present the TOPSIS technique as an adequate instrument for comprehensive evaluation. Pros and cons of this methods and also its calculation are described, e.g. easy use, rationality, understanding on the one hand and on the other absence of the possibility to allocate weights to the selected criteria. It can be also said that it is possible to find many different descriptions of the calculation process (from 5 to 9 steps). We believe that the TOPSIS technique is a suitable tool for complex assessment which can be applied in various areas of the public and private sector. However, attention must be paid to the selection of criteria and to the method of determining their weight, which has a significant impact on the overall result of the analysis.

Název v anglickém jazyce

TOPSIS Technique and Its Theoretical Background

Popis výsledku anglicky

In the 21st Century, decision-making on the basis of incomplete, different or all available information is a necessity which must be faced by any entity wishing to be competitive. The Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) as one of multi-criteria decision making (MCDM) method represents a practical tool for the selection of a greater amount of alternatives (as one of the most popular, resp. most commonly used). The main contribution of this article is to present the TOPSIS technique as an adequate instrument for comprehensive evaluation. Pros and cons of this methods and also its calculation are described, e.g. easy use, rationality, understanding on the one hand and on the other absence of the possibility to allocate weights to the selected criteria. It can be also said that it is possible to find many different descriptions of the calculation process (from 5 to 9 steps). We believe that the TOPSIS technique is a suitable tool for complex assessment which can be applied in various areas of the public and private sector. However, attention must be paid to the selection of criteria and to the method of determining their weight, which has a significant impact on the overall result of the analysis.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Proceedings of the 14th International Conference Liberec Economic Forum 2019

ISBN

978-80-7494-482-6

ISSN

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e-ISSN

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Počet stran výsledku

7

Strana od-do

145-151

Název nakladatele

Technická univerzita v Liberci

Místo vydání

Liberec

Místo konání akce

Liberec

Datum konání akce

1. 1. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000540987200014