Analysis of heuristic validity, efficiency and applicability of the profile distance method for implementation in decision support systems

Authors:
Edward Bernroider;Nikolaus Obwegeser;Volker Stix
Affiliations:
Institute for Management Information Systems, WU - Vienna University of Economics and Business, Augasse 2-6, 1090 Wien, Austria;Institute for Information Business, WU - Vienna University of Economics and Business, Augasse 2-6, 1090 Wien, Austria;Institute for Information Business, WU - Vienna University of Economics and Business, Augasse 2-6, 1090 Wien, Austria
Venue:
Computers and Operations Research
Year:
2011

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Abstract

This article seeks to enhance acceptance of the profile distance method (PDM) in decision support systems. The PDM is a multiple attributive-based decision making as well as a multiple method approach to support complex decision making and uses a heuristic to avoid computationally complex global optimization. We elaborate on the usability of the method and question the heuristic used. We present a bi-section algorithm, which efficiently supports the discovery of transition profiles needed in a user-friendly and practical application of the method. Additionally, we provide empirical evidence showing that the proposed heuristic is efficient and delivers results within 5% of the global optimizer for a wide range of datasets.