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Software Product
Decision Support: Weighted Criteria | Software    
           

Decision Support: Weighted Criteria

Weighted Criteria Decision Making | Software

Main Features:

Participants | Decision Cases | Alternatives | Criteria | Attributes | Weightings | Scores | Rankings | Reports.


software@intellia.co.nz

Decision Support: Weighted Criteria | Software by Intellia Limited

Decision Support: Weighted Criteria | Software by Intellia Limited

Buy Now for NZD $50.00

 
 
           
Weighted Criteria Decision Support Software  

In decision theory, the weighted sum model (WSM) is the best known and simplest multi-criteria decision analysis and multi-criteria decision making method for evaluating a number of alternatives in terms of a number of decision criteria.

For a example suppose that a decision problem of this type is defined on three alternatives A1, A2, A3 each described in terms of four criteria C1, C2, C3 and C4. 

For instance, assuming we input that the relative weight of the first criterion is equal to 0.20, the relative weight for the second criterion is 0.15, the third 0.40, the fourth 0.25.

 

When the formula is applied on these numerical data the scores for the four alternatives are:

A1 = 25 x 0.20 + 20 x 0.15 + 15 x 0.40 + 30 x 0.25 = 21.50

...and assuming the results for the other alternatives are A2 = 22.00; A3 = 20.00; A4 = 21.00.

Then, the best alternative is alternative A2 (because it has the maximum WSM score which is equal to 22.00). The score results of each alternative determine the resulting rank order of alternatives: 

  1. A2 > A1
  2. A1 > A4
  3. A4 > A3.
 

The software is designed to enable you to model common decision making problems using the weighted criteria (weighted sum model).

The software allows you to:

  • maintain a journal of decision cases
  • define the decision problem space
  • select decision model
  • model decision processes for single or multiple decision participants
  • define decision criteria
  • weigh decision criteria
  • explore alternatives
  • analyze alternatives
  • score and rank alternatives
  • report results
 
           
           
           
 

 

 

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