New applications of fuzzy logic in decision support systems

Kostas Metaxiotis, John E. Psarras and John-Emanuel Samouilidis

International Journal of Management and Decision Making, 2004, vol. 5, issue 1, 47-58

Abstract: Companies deal with many decision-making processes whose impact on the global performance can be very strong. As a consequence, the role of decision support systems (DSSs) within the organisation is critical. Considering the imprecise or fuzzy nature of the data in real-world problems, it becomes obvious that the ability of managing uncertainty turns to be a crucial issue for a DSS. Fuzzy logic (FL) is a method for understanding, quantifying and dealing with vague, ambiguous and uncertain characteristics, ideas and judgments. In more specific terms, what is central about fuzzy logic is that, unlike classical logical systems, it aims at modelling the imprecise modes of reasoning that play essential role in the remarkable human ability to make rational decisions in an environment of uncertainty and imprecision. In this framework, this paper aims at promoting the integration of fuzzy logic into DSSs for the benefit of decision-makers. It discusses the key role of FL in DSSs, presents new applications of FL in DSSs in various sectors and identifies new challenges and new directions for further research. This review reveals that, although still regarded as a new methodology, FL is shown to have matured to the point of offering real practical benefits in many of its applications.

Keywords: fuzzy logic; decision support systems; uncertainty; decision making; fuzzy DSS. (search for similar items in EconPapers)
Date: 2004
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