Theoretical framework for a decision support system for micro-enterprise supermarket investment risk assessment using novel picture fuzzy hypersoft graph

Abstract

Risk evaluation has always been of great interest for individuals wanting to invest in various businesses, especially in the marketing and product sale centres. A finely detailed evaluation of the risk factor can lead to better returns in terms of investment in a particular business. Considering this idea, this paper aims to evaluate the risk factor of investing in different nature of products in a supermarket for a better proportioning of investment based on the product’s sales. This is achieved using novel Picture fuzzy Hypersoft Graphs. Picture Fuzzy Hypersoft set (PFHSs) is employed in this technique, a hybrid structure of Picture Fuzzy set and Hypersoft Set. These structures work best for evaluating uncertainty using membership, non-membership, neutral, and multi-argument functions, making them ideal for Risk Evaluation studies. Also, the concept of the PFHS graph with the help of the PFHS set is introduced with some operations like the cartesian product, composition, union, direct product, and lexicographic product. This method presented in the paper provides new insight into product sale risk analysis with a pictorial representation of its associated factors.