Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) came in the 1980s as a multi-criteria-based decision-making method. TOPSIS chooses the alternative of shortest the Euclidean distance from the ideal solution and greatest distance from the negative ideal solution.
To make this definition easier, let’s suppose you want to buy a mobile phone, you go to a shop and analyze 5 mobile phones on basis of RAM, memory, display size, battery, and price. At last, you’re confused after seeing so many factors and don’t know how to decide which mobile phone you should purchase. TOPSIS is a way to allocate the ranks on basis of the weights and impact of the given factors.
The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method. TOPSIS is based on the concept that the chosen alternative should have the shortest geometric distance from the best ideal solution and the longest from the worst ideal solution.
For more info, refer to the below given link:
A free online TOPSIS calculator written in Python - Click Here
To make this definition easier, let’s suppose you want to buy a mobile phone, you go to a shop and analyze 5 mobile phones on basis of RAM, memory, display size, battery, and price. At last, you’re confused after seeing so many factors and don’t know how to decide which mobile phone you should purchase. TOPSIS is a way to allocate the ranks on basis of the weights and impact of the given factors.
The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is a multi-criteria decision analysis method. TOPSIS is based on the concept that the chosen alternative should have the shortest geometric distance from the best ideal solution and the longest from the worst ideal solution.
For more info, refer to the below given link:
A free online TOPSIS calculator written in Python - Click Here
