Objective Criticism and Negative Conclusions on Using the Fuzzy SWARA Method in Multi-Criteria Decision Making

Proposal for an objective binary benchmarking framework that validates each other for comparing MCDM methods through data analytics

When it comes to choosing the best option among multiple alternatives with criteria of different importance, it makes sense to use multi criteria decision making (MCDM) methods with more than 200 variations. However, because the algorithms of MCDM methods are different, they do not always produce the same best option or the same hierarchical ranking. At this point, it is important how and according to which MCDM methods will be compared, and the lack of an objective evaluation framework still continues. The mathematical robustness of the computational procedures, which are the inputs of MCDM methods, is of course important. But their output dimensions, such as their capacity to generate well-established real-life relationships and rank reversal (RR) performance, must also be taken into account. In this study, we propose for the first time two criteria that confirm each other. For this purpose, the financial performance (FP) of 140 listed manufacturing companies was calculated using nine different MCDM methods integrated with step-wise weight assessment ratio analysis (SWARA). İn the next stage, the statistical relationship between the MCDM-based FP final results and the simultaneous stock returns of the same companies in the stock market was compared. Finally, for the first time, the RR performance of MCDM methods was revealed with a statistical procedure proposed in this study. According to the findings obtained entirely through data analytics, Faire Un Choix Adéquat (FUCA) and (which is a fairly new method) the compromise ranking of alternatives from distance to ideal solution (CRADIS) were determined as the most appropriate methods by the joint agreement of both criteria.

Balanced scorecard-based cost analysis of service industry using a novel hybrid decision making approach based on golden cut-oriented bipolar and q-ROF sets

This study aims to create a strategy for reducing energy costs in hospitals to ensure the sustainability of health services. In this framework, a novel hybrid decision making approach is generated based on golden cut-oriented bipolar and q-rung orthopair fuzzy sets (q-ROFs). Firstly, balanced scorecard (BSC)-based criteria are evaluated by using multi stepwise weight assessment ratio analysis (M-SWARA) approach. Secondly, alternatives are examined with the help of technique for order preference by similarity to ideal solution (TOPSIS) technique. The novelty of this study is to find critical factors that affect the energy costs of health institutions with an original fuzzy decision-making model. This proposed model has also some superiorities by comparing with previous models in the literature. First, SWARA method is improved, and this technique is generated with the name of M-SWARA. Hence, the relationship between the criteria can be examined owing to this issue. Additionally, golden cut is taken into consideration to compute the degrees in bipolar q-ROFSs to achieve more accurate results. These two issues have an important impact on the originality of the proposed model. The findings demonstrate that consciousness level of employees has the highest weight with respect to the energy costs in hospitals. Additionally, the type of energy used also plays a significant role for this issue. Thus, renewable energy sources should be considered in meeting the energy needs of hospitals. Although the installation costs of these energy types are higher, it will be possible to significantly reduce energy costs in the long run.