Multi-criteria Decision Making and Data Mining, 2nd Edition

A special issue of Mathematics (ISSN 2227-7390). This special issue belongs to the section "Fuzzy Sets, Systems and Decision Making".

Deadline for manuscript submissions: 30 September 2024 | Viewed by 6602

Special Issue Editors


E-Mail Website1 Website2
Guest Editor
Department of Industrial Engineering and Management, National Taipei University of Technology, Taipei 10608, Taiwan
Interests: multiple criteria decision making (MCDM); decision support; data mining
Special Issues, Collections and Topics in MDPI journals

E-Mail Website1 Website2
Guest Editor
Department of Construction Economics and Property Management, Vilnius Gediminas Technical University, Vilnius, Lithuania
Interests: sustainable development; multiple-criteria decision-making; intelligent decision-support systems; environmental, economic, political, and social sustainability dimensions; Industry 4.0; Industry 5.0; Society 5.0; cognitive data mining
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Given the complexity of the socioeconomic environment, decision making is one of the most notable ventures, whose mission is to decide the best alternative under numerous qualitative and quantitative factors/criteria. Multiple-criteria decision-making (MCDM) methods and hybrid models are quickly emerging as useful methods for evaluating and improving alternatives. Through the gradual maturation of information technology and the growth of the data analysis environment, large amounts of data within organizations could be accumulated. Therefore, some data-driven MADM models which integrate machine learning/data mining and MCDM methods to help decision-makers select the best alternative in various industries have been developed. Data mining or machine learning techniques are primarily concerned with discovering hidden patterns and relationships in data to assist decision-makers making judgements. MCDM is mainly concerned with problems which require ranking, classification, and sorting based on multiple criteria or attributes. Combining data mining with MCDM methodologies to establish new or hybrid decision-making models involves combining the advantages of both methods in management sciences.

This Special Issue aims to collate original research papers that offer the latest developments and applications of MCDM, data mining, or hybrid models across various fields.

Prof. Dr. James Liou
Prof. Dr. Artūras Kaklauskas
Guest Editors

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Keywords

  • multiple-criteria decision-making (MCDM)
  • data mining
  • data driven
  • machine learning
  • knowledge-based systems
  • hybrid multiple-criteria decision-making methods
  • intelligent decision support systems
  • optimization techniques
  • soft computing
  • application of mcdm methods
  • site selection
  • resource allocation
  • supply chain management
  • production management
  • quality management
  • risk management
  • decision analysis for sustainable production and consumption
  • group decision making
  • MCDM theories
  • MCDM in strategic management
  • decision making
  • hybrid decision-making analysis
  • information technologies in decision making
  • innovative applications of MCDM methods
  • weighting approach
  • technologies and techniques
  • sustainability assessment data mining models and tools
  • data mining result validation
  • privacy concerns and ethics
  • practical applications (government, international development, culture healthcare, education, media, insurance, Internet of Things, agriculture, industry)
  • case studies
  • impacts of data science
  • quality of city life and data mining
  • smart city and data mining
  • behavioral change and data mining
  • neuromarketing and data mining

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Published Papers (5 papers)

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Research

10 pages, 257 KiB  
Article
Fuzzy–Rough Analysis of ESG Ratings and Financial and Growth Ratios on the Stock Returns of Blue-Chip Stocks in Taiwan
by Kao-Yi Shen
Mathematics 2024, 12(16), 2511; https://doi.org/10.3390/math12162511 - 14 Aug 2024
Viewed by 573
Abstract
This study uses fuzzy–rough analysis to investigate the influence of Environmental, Social, and Governance (ESG) ratings, along with critical financial and growth ratios, on the stock returns of blue-chip companies in Taiwan. The growing importance of ESG factors in investment decisions underscores the [...] Read more.
This study uses fuzzy–rough analysis to investigate the influence of Environmental, Social, and Governance (ESG) ratings, along with critical financial and growth ratios, on the stock returns of blue-chip companies in Taiwan. The growing importance of ESG factors in investment decisions underscores the need to understand their impact on stock performance. By integrating the fuzzy–rough set theory, which accommodates uncertainty and imprecision in data, we analyze the complex relationships between ESG ratings, traditional financial metrics (such as ROE, return on equity), and stock returns. Our findings provide insights into how ESG considerations, alongside financial indicators, drive the returns of Taiwan’s blue-chip stocks. Three public-listed companies were evaluated using this approach, and the results are consistent with the actual stock performance. This research contributes to the field by offering a robust methodological approach to assess the nuanced effects of ESG factors on financial performance, thus aiding investors and management teams in making informed decisions. Full article
(This article belongs to the Special Issue Multi-criteria Decision Making and Data Mining, 2nd Edition)
32 pages, 1978 KiB  
Article
A Multi-Criteria Assessment Model for Cooperative Technology Transfer Projects from Universities to Industries
by Rui Xiong, Hongyi Sun, Shufen Zheng and Sichu Liu
Mathematics 2024, 12(12), 1894; https://doi.org/10.3390/math12121894 - 18 Jun 2024
Viewed by 804
Abstract
Cooperative Technology Transfer (CTT) is a technology transfer model where universities and enterprises jointly participate throughout the entire process of technology transfer activities. Most discussions focus on its mechanisms and influencing factors, yet a framework to guide CTT projects in practice is still [...] Read more.
Cooperative Technology Transfer (CTT) is a technology transfer model where universities and enterprises jointly participate throughout the entire process of technology transfer activities. Most discussions focus on its mechanisms and influencing factors, yet a framework to guide CTT projects in practice is still lacking. This study proposes an assessment model based on the life-cycle of CTT projects, covering the initial cooperation relationship, project management during the mid-term, and technological achievements at the end. The model was evaluated by 14 experts first and then validated through two CTT projects in China. Gray Relation Analysis was employed to calculate the weights of different factors based on their relative importance, while the Dempster–Shafer theory was utilized to combine evidence from various sources and address the uncertainty in the assessment. The results of the case analysis indicate that the attitudes of universities and enterprises are considered critical in influencing the success of CTT projects, while management issues that arise during the projects can pose potential risks. This research serves as an applied exploration and has three functions. Firstly, the model can be used as a feasibility study before the project commences. Secondly, it can be utilized to analyze and improve potential issues during the project. Finally, it can be used for a post-project experience summary. Full article
(This article belongs to the Special Issue Multi-criteria Decision Making and Data Mining, 2nd Edition)
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21 pages, 1646 KiB  
Article
A Hybrid Model to Explore the Barriers to Enterprise Energy Storage System Adoption
by James J. H. Liou, Peace Y. L. Liu and Sun-Weng Huang
Mathematics 2023, 11(19), 4223; https://doi.org/10.3390/math11194223 - 9 Oct 2023
Viewed by 1362
Abstract
Using green energy is an important way for businesses to achieve their ESG goals and ensure sustainable operations. Currently, however, green energy is not a stable source of power, and this instability poses certain risks to normal business operations and manufacturing processes. The [...] Read more.
Using green energy is an important way for businesses to achieve their ESG goals and ensure sustainable operations. Currently, however, green energy is not a stable source of power, and this instability poses certain risks to normal business operations and manufacturing processes. The installation of energy storage equipment has become an indispensable accompaniment to facilitating green energy use for an enterprise. However, businesses may encounter significant barriers during the process of installing energy storage equipment. This study aims to explore and discern the key barrier factors that influence the assessment and decision-making process of installing energy storage equipment. A hybrid approach combining the Decision-making and Trial Evaluation Laboratory (DEMATEL) and Interpretive Structural Modeling (ISM) is developed to explore the causality relationships and degrees of influence among these key factors. The Z-number and Rough Dombi Weighted Geometric Averaging (RDWGA) methods are also utilized to integrate the experts’ varied opinions and uncertain judgements. Finally, recommendations are provided based on the results to assist businesses to make informed decisions while evaluating the installation of energy storage equipment, to ensure a stable and uninterrupted supply of green energy for use in normal operations. Full article
(This article belongs to the Special Issue Multi-criteria Decision Making and Data Mining, 2nd Edition)
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19 pages, 2956 KiB  
Article
A Large-Scale Reviews-Driven Multi-Criteria Product Ranking Approach Based on User Credibility and Division Mechanism
by Wenzhi Cao, Xingen Yang and Yi Yang
Mathematics 2023, 11(13), 2952; https://doi.org/10.3390/math11132952 - 1 Jul 2023
Cited by 1 | Viewed by 1288
Abstract
Massive online reviews provide consumers with the convenience of obtaining product information, but it is still worth exploring how to provide consumers with useful and reliable product rankings. The existing ranking methods do not fully mine user information, rating, and text comment information [...] Read more.
Massive online reviews provide consumers with the convenience of obtaining product information, but it is still worth exploring how to provide consumers with useful and reliable product rankings. The existing ranking methods do not fully mine user information, rating, and text comment information to obtain scientific and reasonable information aggregation methods. Therefore, this study constructs a user credibility model and proposes a large-scale user information aggregation method to obtain a new product ranking method. First, in order to obtain the aggregate weight of large-scale users, this paper proposes a consistency modeling method of text comments and star ratings by mining the associated information of user comments, including user interaction information and user personalized characteristics information, combined with sentiment analysis technology, and then constructs a user credibility model. Second, a double-layer group division mechanism considering user regions and comment time is designed to develop the large-scale group ratings aggregation approach. Third, based on the user credibility model and the large-scale ratings aggregation approach, a product ranking method is developed. Finally, the feasibility and effectiveness of the proposed method are verified through a case study for automobile ranking and a comparative analysis is furnished. The analysis results of the application case of automobile ranking show that there is a significant difference between the ranking results obtained by the ratings aggregation method based on the arithmetic mean and the ranking results obtained by this method. The method in this study comprehensively considers user credibility and group division, which can be reflected in user aggregation weights and the group aggregation process, and can also obtain more scientific and reasonable decision results. Full article
(This article belongs to the Special Issue Multi-criteria Decision Making and Data Mining, 2nd Edition)
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18 pages, 688 KiB  
Article
Key Factors for a Successful OBM Transformation with DEMATEL–ANP
by Tien Son Nguyen, Jen-Ming Chen, Shih-Hsien Tseng and Li-Fen Lin
Mathematics 2023, 11(11), 2439; https://doi.org/10.3390/math11112439 - 25 May 2023
Cited by 2 | Viewed by 1689
Abstract
Production costs and global competition have increased sharply in recent years, forcing manufacturers to upgrade to the original brand manufacturer (OBM) to survive and thrive and capture more profit margins. However, studies that explore key factors that affect the success of such an [...] Read more.
Production costs and global competition have increased sharply in recent years, forcing manufacturers to upgrade to the original brand manufacturer (OBM) to survive and thrive and capture more profit margins. However, studies that explore key factors that affect the success of such an important transition are lacking. Therefore, this study aims to investigate the key factors that will influence the success of contract manufacturers to upgrade to the OBM on the basis of a decision-making trial and evaluation laboratory with an analytic network process. Our results identify six key factors that exhibit a cause-and-effect relationship among the key criteria. Moreover, organizational innovation will determine the difference between the success and the failure of an OBM transition apart from material and component stability. Our findings can help researchers, policy makers, and practitioners increase their understanding of how to upgrade manufacturers successfully in global value chains. Full article
(This article belongs to the Special Issue Multi-criteria Decision Making and Data Mining, 2nd Edition)
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