Sunday, May 15, 2011

How to decide when more than one criteria is important: ELECTRE

The French School of decision making has a short answer: Apply an ELECTRE algorithm.
Howto:

  1. Decide what to compare, e.g. products, actions
  2. Define criteria and their scales, importance and veto tresholds (I'd rather die, than choosing a hotel without Internet connection)
  3. Measure them
  4. Construct outranking relations, in the style of  a better b if. These are called Recommandations.
  5. Devise an exploitation procedure that uses the Recommandations to e.g. rank the products.
Sounds promising, after a day of research I must give up because the material found on internet is hard to grasp. But the americans, much more elegalitarian when offering ideas, are doing good job with Analytical Hierarchical Process. Subject under investigation and my next post.

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