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What is Multi-Objective Decision Making

Handbook of Research on Business Social Networking: Organizational, Managerial, and Technological Dimensions
Multi-objective decision making (MODM), also known as multi-criteria decision making, is a systematic procedure targeting at supporting decision makers faced with conflicting evaluations. The procedure aims at highlighting these conflicts and deriving a way to come to a compromise in a more transparent manner. Evaluation criteria in MODM are derived or interpreted subjectively as indicators of the strength of various preferences.
Published in Chapter:
A Neuro-Fuzzy Partner Selection System for Business Social Networks
T. T. Wong (The Hong Kong Polytechnic University, Hong Kong) and Loretta K.W. Sze (The Hong Kong Polytechnic University, Hong Kong)
DOI: 10.4018/978-1-61350-168-9.ch006
Abstract
Enterprises are now facing growing global competition and the continual success in the marketplace depends very much on how efficient and effective companies are able to respond to customer demands. Business social network sites (BSNS) have provided a powerful tool to link up manufacturers, suppliers, distributors, and customers. Among the emerging business social networks, decision support functionality addressing the issue of selecting business partners is an important domain to be studied, and it is the objective of this chapter to propose a practical partner selection decision support system. Essentially, a neural-network data mining system is used to generate information for subsequent fuzzy multi-objective analysis. It demonstrates the benefits of integrating information technology, artificial intelligence, and multi-objective decision making to form a practical aid that capitalizes on the merits of BSNS. A special feature is that the trust among companies can be incorporated as an evaluation criterion.
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