A Comparative Study of Using Grey Relational Analysis in Multiple Attribute Decision Making Problems

This paper uses grey relational analysis (GRA) method in multiple attribute decision making (MADM) problems and the results from other methods are compared including the technique for order preference by similarity to ideal solution and operational competitiveness rating method.

Abstract

This paper uses grey relational analysis (GRA) method in multiple attribute decision making (MADM) problems. The advantages of using the GRA method include the followings: The results are based upon the original data, and the calculations are simple and easy to understand. It is one of the best methods to help management make decisions under business environment. Finally, an example is provided to show how this GRA method works in dealing with MADM problems. Moreover, the results from other methods are compared including the technique for order preference by similarity to ideal solution and operational competitiveness rating method.