Decision need to be made to select the number one priority after evaluating multiple factors.
The challenge is weightage/importance of these factors is different for different users.
eg. Buying cars. Key deciding factors are mileage, comfort, warranty and every user rate these factors differently.
You can use the following data to understand the concept:
Step 1 – Create parameters to capture the importance of Price (Input value 1, 3 and 9 and display value Low, Moderate and High)
The objective of creating a parameter is to allow each user to select his personal views on the relative importance of these factors.
Likewise we need to create parameters for comfort and mileage as follow.
Step 2: Categorise the values of each factor into 3 groups and rate most preferred option as 9 and least as 1 calculate the over all ranking using weights:
Calculate the over all ranking by multiplying the ranking of each category by their respective weights (which are captured using parameters)
The best car to select is the car with highest ranking because it is not only looking at the ranking but also the weights of each category.