Multi-Criteria Decision Analysis (MCDA) is a decision-making framework that evaluates and prioritizes multiple conflicting criteria to aid decision-makers in complex scenarios. It combines quantitative and qualitative data to facilitate a comprehensive analysis of alternatives, ensuring a balanced consideration of diverse factors such as cost, risk, and benefits.

Multi-Criteria Decision Analysis

A decision-making framework provides a structured approach to making choices by outlining steps and criteria to evaluate options and outcomes. It helps in reducing uncertainty and bias, ensuring decisions are more consistent, rational, and aligned with organizational or personal goals.

decision-making framework

conflicting criteria

decision-makers

complex scenarios

Quantitative data is numerical information that can be measured and analyzed statistically to uncover patterns, trends, and relationships. It is essential for making data-driven decisions and is often used in various fields such as science, economics, and social sciences to validate hypotheses and theories.

Quantitative Data

Qualitative data is non-numeric information that captures the qualities, characteristics, and meanings of phenomena, often used in social sciences to understand human behavior and experiences. It is typically collected through methods like interviews, observations, and open-ended surveys, allowing for in-depth analysis of complex issues.

qualitative data

comprehensive analysis

analysis of alternatives

balanced consideration

diverse factors

cost

Risk refers to the potential for loss or an undesirable outcome, often quantified in terms of probability and impact. Effective risk management involves identifying, assessing, and mitigating risks to achieve organizational or personal objectives while balancing potential rewards.

risk

Benefits refer to the advantages or positive outcomes that individuals or organizations receive from a particular action, decision, or policy. They can be tangible or intangible and are often weighed against costs to determine the overall value or effectiveness of an initiative.

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