The Application of Simplified Multi-Granular Linguistic Term Sets in Decision-Making Method for an Investment Company

• Published in: Springer Proceedings in Mathematics and Statistics
• Main Author: Hanif H.M.; Mohamad D.
• Format: Conference paper
• Language: English
• Published: Springer 2024
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85209591642&doi=10.1007%2f978-981-97-3450-4_3&partnerID=40&md5=5cf9795004b0b11987998ae80c500e00

Nowadays, with the need to solve complex decision-making problems, researchers have introduced many methods to solve the problem. Researchers have incorporated many considerations in the proposed decision-making method. Among the considerations are the level of confidence of the decision-maker, optimism of the decision-maker, multi-granular linguistic term sets, and different types of scales such as crisp value, fuzzy numbers, and others. These considerations are incorporated into their decision-making method to cater to the needs. However, the incorporation of the considerations, it may now increase the complexity level of the proposed method. This is because of the higher number of steps needed to come up with the solution. With the increase in the level of complexity in one method, it may impose disadvantages such as loss of information, time consumption, and lack of accuracy. Hence, selecting a decision-making method with a lower complexity level is important. Hence, based on a Simplified Multi-Granular Linguistic Term Set (SMM) method, this research will be applied to an investment company. SMM method is selected to be applied because it is proven to be a method with a lower complexity level among its category. By applying the SMM method, the best investment company is selected. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.