Multi-Attribute Decision Matrices, Done Right

Multi-attribute decision matrices (MADM) offer a structured methodology for comparing multiple alternatives based on a set of weighted criteria. The process involves defining attributes, assigning weights based on priorities, scoring each option, and calculating a final weighted score. A key insight is gained by plotting these scores against price to identify the 'efficient frontier,' which highlights options that offer the best performance for a given cost. This technique is best used to inform a decision by revealing trade-offs and eliminating inferior choices, rather than automatically dictating a single correct answer.