The analysis procedure and application of Multi-Criteria Decision-Making methods in selection of industry equipment

Abstract

Business intelligence and decision-making are one of the critical aspects of modern business, therefore in this paper the approach of mathematical decision-making methods application is analyzed, which can be useful for decision-makers in the decision-making process. This paper presents the concept of applying multi-criteria decision methods through the basic phases. Also, the paper presents the classification of exact decision-making methods. Particular attention has been paid to the analysis of methods of multi-attribute decision-making methods, and their application in the selection of process equipment in various fields of industry.