What is vikor?

Vikor is a multi-criteria decision-making technique used to rank alternative solutions or options based on their multiple attributes or criteria. It was developed by Zeleny and his colleagues in the early 1980s and has since been widely used in various fields, such as engineering, business, and healthcare. The technique considers both the benefits and costs of each alternative solution and identifies the one that provides the best overall performance or satisfaction. Vikor combines the principles of compromise programming and outranking methods and is particularly useful when dealing with conflicting, non-commensurable criteria. The acronym VIKOR stands for "VlseKriterijumska Optimizacija I Kompromisno Resenje," which translates to "multi-criteria optimization and compromise solution."