Topsis

Part of speech: noun

Definitions

1. A decision-making method that ranks alternatives based on their distance from an ideal and a negative-ideal solution; a technique used in multi-criteria optimization; a systematic approach to evaluate and prioritize options
2. A mathematical approach assessing choices by measuring how close each is to the best and farthest from the worst scenario; a process for solving complex decision tasks; an analytical tool for comparison and ranking
3. A procedure in decision analysis involving calculation of closeness coefficients to rank options relative to ideal points; a strategy in operations research for multi-attribute selection; a quantitative method to aid in choosing between competing options

Etymology: "Topsis" is an acronym formed from the method's full title, Technique for Order of Preference by Similarity to Ideal Solution. The initial letters of those words spell a pronounceable word, so the name works as a single term. The method was developed by the researchers Ching-Lai Hwang and Kwangsun Yoon as a way to rank options judged on several criteria at once. Each option is compared with an imagined ideal solution, the best possible performance on every criterion, and with an imagined worst solution. The option ranked highest is the one lying closest to the ideal and furthest from the worst.