Multi-criteria decision-making (MCDM) is one of the main decision-making problems which aims to determine the best alternative by considering more than one criterion in the selection process. MCDM has manifold tools and methods that can be applied in different fields from finance to engineering design. Multi-Criteria Decision Making (MCDM) or Multi-Criteria Decision Analysis (MCDA), is one of the most accurate methods of decision-making, and it can be known as a revolution in this field [1,2]. One of the first research studies on multi-criteria decision-making was developed by Benjamin Franklin when he published his research on the moral algebra concept. Several empirical and theoretical scientists have worked on MCDM methods to examine the mathematical modeling capability of these methods since the 1950s to provide a framework that can help to structure decision-making problems and generate preferences from alternatives.

source: Article Multi-Criteria Decision Making (MCDM) Methods and Concepts