COMPARATIVE ANALYSIS OF MULTI-CRITERIA DECISION MAKING APPROACHES: A COMPREHENSIVE EVALUATION

Multi-Criteria Decision Making( MCDM) approaches are vital in working complex decision- making problems
where multiple disagreeing criteria must be considered. These approaches help in assessing and prioritizing
druthers to make informed opinions. This paper presents a relative analysis of several prominent MCDM ways,
including Analytical Hierarchy Process( AHP), Analytical Network Process( ANP), Technique for Order
Preference by Similarity to Ideal Solution( TOPSIS), and VlseKriterijumska Optimizacija I Kompromisno
Resenje( VIKOR). Each system is assessed grounded on its theoretical foundations, operation disciplines,
strengths, and limitations. The study highlights how these approaches differ in terms of structure, complexity, and
the type of decision terrain they best serve. likewise, the paper explores the practical counteraccusations of opting
an applicable MCDM fashion, considering factors similar as data vacuity, the nature of the decision problem,
and stakeholder involvement. The comparison aims to give decision- makers with perceptivity into the advantages
and disadvantages of each approach, enabling further effective and customized decision- making in colorful fields,
from business to environmental operation and engineering.