Multiple-criteria decision analysis (MCDA) is a methodology that is used to support complex decision-making processes that involve multiple criteria or objectives. MCDA is used in a wide range of applications, from business and finance to public policy and environmental management.
The MCDA process involves identifying and prioritising the criteria that are relevant to the decision at hand as well as the alternatives that are being considered. Each alternative is then evaluated based on its performance against each of the criteria, using a variety of different methods such as scoring, weighting, or ranking.
The results of the MCDA process can be used to identify the best alternative or alternatives based on the specific criteria and priorities that have been established. The output of the MCDA process can also be used to identify trade-offs between different criteria or objectives and to evaluate the potential impact of different decisions on each of these criteria.
There are many different techniques and tools that can be used in MCDA, including decision trees, the analytic hierarchy process (AHP), and outranking methods such as the technique for order of preference by similarity to the ideal solution (TOPSIS).
Multiple-criteria decision analysis
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