Multiple criteria decision analysis (MCDA) tries to reduce biases from the decision makers and

group decision-making by making the weights and associated trade-offs between the criteria
explicit in a structured way (1000minds, n.d.). Both weighted sum method (WSM) and analytic
hierarchy process (AHP) are involved in MCDA. WSM is a decision making method/model in
which a multitude of alternatives are compared to each other based on a multitude of
criteria. Weights are assigned to each attribute and the values are normalized, then each
parameter is multiplied by their respective weight. The values of each individual row are then
summed and compared with the highest score being the best choice. AHP is another method
of scoring alternatives based on various weighted criteria by pairwise comparing them in
terms of their importance. Expected monetary value (EMV) is a statistical technique used in
risk management and is a way of quantifying the expected loss or gain from undertaking a
project given the probability of different outcomes (Saraev, 2023). EMV is simply probability
(the chance of something happening from 0-100%) multiplied by the impact (the financial
results of the outcome). Decision trees are the product of a supervised machine learning
algorithm which starts with a root node (question/problem) and branches out into various
smaller questions/scenarios which ultimately lead to an answer. Knowing when and what tool
to use ultimately depends on the complexity and severity of the problem or question you are
trying to solve. I am sure there are situations where utilizing all four tools would be beneficial
to some degree, however with complex business problems where many stakeholders are
involved I would recommend the MCDA approach which utilizes both WSM and AHP.