A Comprehensive Review on Multicriteria Decision Making Concepts and their Applications

Abstract

The primary goal of multi-criteria decision-making (MCDM), which is a dilemma with making decisions, is to choose the best substitute by taking into account multiple criteria. This technique is gaining great popularity in solving decision-making problems in different fields in recent days. Because they can reduce complex issues to their most basic components, multi-criteria decision-making techniques are very frequent in use by the decision-makers to solve problems. From engineering design, finance to healthcare, MCDM has a wide range of instruments and techniques that can be used. MCDM techniques have changed to suit different kinds of applications. This chapter's goal is to provide an investigation of the multi-criteria decision-making concept, major categories, new applications.