Search results for keyword: subjective
weighted factor analysis
In making decision-making decisions, The Analytic Hierarchy Process (AHP) is a useful tool that helps to increase the accuracy of the proposed solution. The AHP is a process of analysis used to evaluate multiple options and make decisions among them based on different criteria. It takes into accou......
1042 
Lily
flexible decision
Abstract
In an ever-changing world, it is valuable for organizations to be able to be flexible in their decision-making processes. Flexible decision making (FDM) is a method that allows organizations to both evaluate and apply information gathered during their decision-making processes. As such, ......
soft evaluation method
Soft Evaluation Method
The objective evaluation of a product, service or system is important for understanding how effective it is for the customer and for determining how improvements can be made. In the past, objective evaluation methods such as objective data analysis and testing have been use......
Commodity stacking
Smart Shopping Tips
There is no denying the fact that with the wave of digitalization, shopping has never been easier. You can get whatever you want with just a few clicks. There are tons of retailers out there, offering all kinds of businesses and products. But does that mean shopping is only ab......
Checkland's Soft Systems Methodology
Introduction
The Soft System Methodology (SSM) is a problem solving framework devised by Peter Checkland and Brian Wilson for identifying, understanding and dealing with “messy” problems. According to Checkland and Wilson (1985), Soft Systems Methodology (SSM) is a “way of thinking” which ena......
Taguchi Quality Concept
Kansei Engineering
Kansei engineering is a methodology developed in Japan to identify, capture, and integrate emotional preferences into the design of products and services. Developed in the 1980s by Professor Mitsuo Nagamachi of Tokyo Denki University in Japan, the process is based on the concept......
Graphical Scoring Method
Graphical rating scale, one of many ways to measure performance, is an approach in which a persons performance is evaluated on the basis of competencies. In this system, supervisors assign ratings for each category of performance based on the scale of 1 to 5 or 1 to 10. This process provides clear......
ordinal scale
What is Likert Scale?
Likert Scale is a type of questionnaire that is used to measure the attitude or opinion of respondents. It was developed by Rensis Likert in 1932 and is one of the most commonly used and simple techniques used in surveys.
The Likert Scale consists of a series of statements ......
Credit Risk Measurement Model
Introduction
Credit risk is one of the most significant risks any lending institution faces. It is the risk that a borrower will not repay the loan in a timely fashion or in accordance with the terms of the loan agreement. It is of paramount importance for banking institutions and other lending b......
factor point method
Factor Point Method
The factor point method is a tool used to assist businesses in evaluating the performance of applicants or current employees when making decisions about compensation or promotions. By assigning points to various criteria, such as experiences and qualifications, one can easily ......
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