A Study and Estimation of Different Distance Measures in Generalized Fuzzy TOPSIS to Improve Ranking Order

Abstract

Multi criteria decision making (MCDM) is used to solve multiple conflicting criteria. There are different methods available in MCDM out of which TOPSIS is a well- known method to solve precise and imprecise information. In this chapter, triangular fuzzy TOPSIS is considered which has different steps like normalization, weight, finding of positive ideal solution (PIS) and negative ideal solution (NIS), distance between PIS and NIS, calculating relative closeness coefficient (RCC) value and ranking the alternatives. Out of these different steps a distance method is studied. The distance measures are basically used to find the distance between the target alternative and the best and the least alternatives. The most commonly used distance method is Euclidean distance. Many other distance methods are available such as Manhattan, Bit-vector, Hamming, Chebyshev distance, etc. To obtain the appropriate distance, these methods are evaluated. The proposed approach is applied in banking domain to find the suitable user for multi criteria reporting (MCR).