A novel hybrid grey-BCM approach in multi-criteria decision making: An application in OTT platform

Abstract

Real world decision making is like a puzzle having complex, uncertain and vague information and this fact portray the wide range applicability of grey system theory in decision making procedure as grey system theory deals with the systems having information with uncertainty. In order to extend the base-criterion method to uncertain conditions, grey information may be a better way to solve a lot of multi-criteria decision-making problems. In this paper, we proposed a novel approach ‘grey base-criterion method’ (GBCM) based on the linguistic variables extended to the grey information. Weights of criteria have been calculated using GBCM. Numerical examples are illustrated and then the results are compared by the grey best-worst method (GBWM). Results of comparison show the high reliability of GBCM method with less consistency ratio over GBWM. A real case study of the fastest growing OTT (Over the Top) platforms in India has been taken to bestow the robustness of the proposed method.