TOPSIS stands for Technique for Order Preference by Similarity to Ideal Solution. It is a multi-criteria decision-making method that helps decision-makers evaluate and prioritize alternatives based on multiple conflicting criteria. The method was developed by Hwang and Yoon in 1981 and is widely used in various fields such as engineering, finance, and environmental management. ### Overview of the TOPSIS Method: 1. **Problem Definition**: Identify the decision-making problem and define the criteria and alternatives.
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