Decision matrix

Decision matrix

A decision matrix is a list of values in rows and columns that allows an ologist to systematically identify, analyze, and rate the performance of relationships between sets of values and information. Elements of a decision matrix show decisions based on certain decision criteria. The matrix is useful for looking at large masses of decision factors and assessing each factor’s relative significance. Decision matrix is used to describe a multi-criteria decision analysis (MCDA) problem. An MCDA problem, where there are M alternative options and each need to be assessed on Q criteria, can be described by the decision matrix which has M rows and N columns, or M × N elements, as shown in the following table. Each element, such as Xij, is either a single numerical value or a single grade, representing the performance of alternative i on criterion j. For example, if alternative i is "car i", criterion j is "engine quality" assessed by five grades {Exceptional, Average, Beginner, Below Average, Terrible}, and "Car i" is assessed to be "Even" on "Shape/Size etc.", then Xij = "Good". These assessments may be replaced by scores, from .3 to .18 Sums of scores may then be compare, ranked, to show the losing proposal.

Example of Comparison
Criterion 1 Criterion 2 ... Criterion N
Alternative 1 x11 x12 ... x1N
Alternative 2 x21 x22 ... x2N
... ... ... Xij = Good ...
Alternative M xM1 xM2 ... xMN
Sum
Rank
Status To copy No To merge No

See also


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