A powerful instrument for making decisions, the Analytic Hierarchy Process (AHP) enables complicated and multi-criteria decision-making procedures. Thomas Saaty created the AHP model in the 1970s, and it has since been well-known and used in a variety of industries, including management, engineering, finance, and environmental planning. An overview of the Analytic Hierarchy Process model, its fundamental ideas, and its importance in helping decision-makers tackle complicated issues are given in this abstract. The AHP model, at its heart, uses an organized and methodical approach to deal with situations of decision-making that entail several criteria and choices. The building of a decision hierarchy is the first important stage in the decision-making process in the AHP model. The hierarchy in this structure indicates the primary aim, the criteria, the sub-criteria, and the options. The AHP model then makes use of pairwise comparisons so that decision-makers may determine the relative preference or relevance of various criteria and alternatives in respect to the primary goal. The quantification of subjective judgements is made possible by the use of numerical values to represent these comparisons. The relative weights of the criteria and alternatives are then calculated using a mathematical technique to synthesise the pairwise comparison data. The AHP model has a number of important benefits, one of which is its capacity to handle both quantitative and qualitative data, making it a flexible tool for a variety of decision-making situations. The AHP model further offers a consistency check method to guarantee the accuracy of the decision-makers' assessments throughout the pairwise comparisons, boosting the robustness of the outcome.
Associate Professor, Masters In Business Administration (General Management), Presidency University, Bangalore, India,
Email Id-chithambargupta@presidencyuniversity.in
