IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v75y2023ics0160791x23001719.html
   My bibliography  Save this article

A portfolio selection of internet of things (IoTs) applications for the sustainable urban transportation: A novel hybrid multi criteria decision making approach

Author

Listed:
  • Heidary Dahooie, Jalil
  • Mohammadian, Ayoub
  • Qorbani, Ali Reza
  • Daim, Tugrul

Abstract

The nature of technological innovations is unpredictable, therefore decision making on disruptive technologies such as the Internet of Things (IoT) in many public sector organizations is undisciplined. Due to resource limitations and tremendous payoffs, there is a need to have a decision-making framework to manage technological innovations as a portfolio of investments that balances risk and reward simultaneously. This study provides a new portfolio matrix for decision making to identify IoT applications in the urban transportation sector for future investment based on two dimensions of impact on sustainable development (SD) and feasibility for implementing IoT using a novel hybrid multi criteria decision making approach. For this purpose, seventeen IoT applications in urban transportation were identified using a systematic literature review. The improved Fuzzy Cognitive Map (FCM) - Best Worth Method (BWM) method was used to determine the relationship between SD criteria and IoT challenges, and to calculate their importance. Then, the Additive Ratio Assessment (ARAS) method was used to prioritize the IoT applications based on SD criteria and IoT challenges. Finally, the adapted impact-feasibility matrix was used to simultaneously evaluate both criteria for selecting the IoT applications portfolio. Results of this paper show that bike sharing and car sharing have the first priority for investment in the case of a developing country.

Suggested Citation

  • Heidary Dahooie, Jalil & Mohammadian, Ayoub & Qorbani, Ali Reza & Daim, Tugrul, 2023. "A portfolio selection of internet of things (IoTs) applications for the sustainable urban transportation: A novel hybrid multi criteria decision making approach," Technology in Society, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:teinso:v:75:y:2023:i:c:s0160791x23001719
    DOI: 10.1016/j.techsoc.2023.102366
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X23001719
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2023.102366?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Amirhossein Ghapanchi & Mohammad Hamed Jafarzadeh & Mohammad Hossein Khakbaz, 2008. "Fuzzy-Data Envelopment Analysis approach to Enterprise Resource Planning system analysis and selection," International Journal of Information Systems and Change Management, Inderscience Enterprises Ltd, vol. 3(2), pages 157-170.
    2. Jari Vepsäläinen & Antti Ritari & Antti Lajunen & Klaus Kivekäs & Kari Tammi, 2018. "Energy Uncertainty Analysis of Electric Buses," Energies, MDPI, vol. 11(12), pages 1-29, November.
    3. Paul Davidsson & Banafsheh Hajinasab & Johan Holmgren & Åse Jevinger & Jan A. Persson, 2016. "The Fourth Wave of Digitalization and Public Transport: Opportunities and Challenges," Sustainability, MDPI, vol. 8(12), pages 1-16, November.
    4. Fotios Zantalis & Grigorios Koulouras & Sotiris Karabetsos & Dionisis Kandris, 2019. "A Review of Machine Learning and IoT in Smart Transportation," Future Internet, MDPI, vol. 11(4), pages 1-23, April.
    5. Park, Jiyoun & Nam, Changi & Kim, Hye-jin, 2019. "Exploring the key services and players in the smart car market," Telecommunications Policy, Elsevier, vol. 43(10).
    6. Reinhart Buenk & Sara S (Saartjie) Grobbelaar & Isabel Meyer, 2019. "A Framework for the Sustainability Assessment of (Micro)transit Systems," Sustainability, MDPI, vol. 11(21), pages 1-24, October.
    7. Ly, Pham Thi Minh & Lai, Wen-Hsiang & Hsu, Chiung-Wen & Shih, Fang-Yin, 2018. "Fuzzy AHP analysis of Internet of Things (IoT) in enterprises," Technological Forecasting and Social Change, Elsevier, vol. 136(C), pages 1-13.
    8. Macharis, Cathy & Bernardini, Annalia, 2015. "Reviewing the use of Multi-Criteria Decision Analysis for the evaluation of transport projects: Time for a multi-actor approach," Transport Policy, Elsevier, vol. 37(C), pages 177-186.
    9. Hemesath, Sebastian & Tepe, Markus, 2023. "Framing the approval to test self-driving cars on public roads. The effect of safety and competitiveness on citizens' agreement," Technology in Society, Elsevier, vol. 72(C).
    10. Rezaei, Jafar, 2015. "Best-worst multi-criteria decision-making method," Omega, Elsevier, vol. 53(C), pages 49-57.
    11. Liguo, Xin & Ahmad, Manzoor & Khan, Shehzad & Haq, Zahoor Ul & Khattak, Shoukat Iqbal, 2023. "Evaluating the role of innovation in hybrid electric vehicle-related technologies to promote environmental sustainability in knowledge-based economies," Technology in Society, Elsevier, vol. 74(C).
    12. Mohammad Zarei & Ayoub Mohammadian & Rohollah Ghasemi, 2016. "Internet of things in industries: a survey for sustainable development," International Journal of Innovation and Sustainable Development, Inderscience Enterprises Ltd, vol. 10(4), pages 419-442.
    13. Tayyaba Zaheer & Asad Waqar Malik & Anis Ur Rahman & Ayesha Zahir & Muhammad Moazam Fraz, 2019. "A vehicular network–based intelligent transport system for smart cities," International Journal of Distributed Sensor Networks, , vol. 15(11), pages 15501477198, November.
    14. Rajdeep Singh & Neeraj Bhanot, 2020. "An integrated DEMATEL-MMDE-ISM based approach for analysing the barriers of IoT implementation in the manufacturing industry," International Journal of Production Research, Taylor & Francis Journals, vol. 58(8), pages 2454-2476, April.
    15. Mäkitie, Tuukka & Hanson, Jens & Damman, Sigrid & Wardeberg, Mari, 2023. "Digital innovation's contribution to sustainability transitions," Technology in Society, Elsevier, vol. 73(C).
    16. Kim, Suwon & Kim, Seongcheol, 2016. "A multi-criteria approach toward discovering killer IoT application in Korea," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 143-155.
    17. Heidary Dahooie, Jalil & Mohammadi, Navid & Daim, Tugrul & Vanaki, Amir Salar & Zavadskas, Edmundas Kazimieras, 2021. "Matching of technological forecasting technique to a technology using fuzzy multi-attribute decision-making methods: Case study from the aerospace industry," Technology in Society, Elsevier, vol. 67(C).
    18. Mustafa Hamurcu & Tamer Eren, 2020. "Strategic Planning Based on Sustainability for Urban Transportation: An Application to Decision-Making," Sustainability, MDPI, vol. 12(9), pages 1-24, April.
    19. Krishnamurthy, Chandra Kiran B. & Ngo, Nicole S., 2020. "The effects of smart-parking on transit and traffic: Evidence from SFpark," Journal of Environmental Economics and Management, Elsevier, vol. 99(C).
    20. Mohammadzadeh, Ali Kamali & Ghafoori, Saeed & Mohammadian, Ayoub & Mohammadkazemi, Reza & Mahbanooei, Bahareh & Ghasemi, Rohollah, 2018. "A Fuzzy Analytic Network Process (FANP) approach for prioritizing internet of things challenges in Iran," Technology in Society, Elsevier, vol. 53(C), pages 124-134.
    21. Mashal, Ibrahim & Alsaryrah, Osama & Chung, Tein-Yaw & Yuan, Fong-Ching, 2020. "A multi-criteria analysis for an internet of things application recommendation system," Technology in Society, Elsevier, vol. 60(C).
    22. Mi, Xiaomei & Tang, Ming & Liao, Huchang & Shen, Wenjing & Lev, Benjamin, 2019. "The state-of-the-art survey on integrations and applications of the best worst method in decision making: Why, what, what for and what's next?," Omega, Elsevier, vol. 87(C), pages 205-225.
    23. Dalenogare, Lucas Santos & Benitez, Guilherme Brittes & Ayala, Néstor Fabián & Frank, Alejandro Germán, 2018. "The expected contribution of Industry 4.0 technologies for industrial performance," International Journal of Production Economics, Elsevier, vol. 204(C), pages 383-394.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sorri, Krista & Yrjönkoski, Katariina & Seppänen, Marko, 2024. "Smart cities, smarter values: Unpacking the ecosystem of urban innovation," Technology in Society, Elsevier, vol. 77(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nasrollahi, Maedeh & Ghadikolaei, Abdolhamid Safaei & Ghasemi, Rohollah & Sheykhizadeh, Morteza & Abdi, Mehdi, 2022. "Identification and prioritization of connected vehicle technologies for sustainable development in Iran," Technology in Society, Elsevier, vol. 68(C).
    2. Feng, Jianghong & Guo, Ping & Xu, Guangyi & Xu, Gangyan & Ning, Yu, 2024. "An integrated decision framework for resilient sustainable waste electric vehicle battery recycling transfer station site selection," Applied Energy, Elsevier, vol. 373(C).
    3. Liang, Fuqi & Brunelli, Matteo & Rezaei, Jafar, 2020. "Consistency issues in the best worst method: Measurements and thresholds," Omega, Elsevier, vol. 96(C).
    4. Hamzeh Soltanali & Mehdi Khojastehpour & Siamak Kheybari, 2023. "Evaluating the critical success factors for maintenance management in agro-industries using multi-criteria decision-making techniques," Operations Management Research, Springer, vol. 16(2), pages 949-968, June.
    5. Corrente, Salvatore & Greco, Salvatore & Rezaei, Jafar, 2024. "Better decisions with less cognitive load: The Parsimonious BWM," Omega, Elsevier, vol. 126(C).
    6. Besharati Fard, Moein & Moradian, Parisa & Emarati, Mohammadreza & Ebadi, Mehdi & Gholamzadeh Chofreh, Abdoulmohammad & Klemeŝ, Jiří Jaromír, 2022. "Ground-mounted photovoltaic power station site selection and economic analysis based on a hybrid fuzzy best-worst method and geographic information system: A case study Guilan province," Renewable and Sustainable Energy Reviews, Elsevier, vol. 169(C).
    7. Xiao-Kang Wang & Wen-Hui Hou & Chao Song & Min-Hui Deng & Yong-Yi Li & Jian-Qiang Wang, 2021. "BW-MaxEnt: A Novel MCDM Method for Limited Knowledge," Mathematics, MDPI, vol. 9(14), pages 1-17, July.
    8. Chong Li & He Huang & Ya Luo, 2022. "An Integrated Two-Dimension Linguistic Intuitionistic Fuzzy Decision-Making Approach for Unmanned Aerial Vehicle Supplier Selection," Sustainability, MDPI, vol. 14(18), pages 1-24, September.
    9. Sarbast Moslem & Muhammet Gul & Danish Farooq & Erkan Celik & Omid Ghorbanzadeh & Thomas Blaschke, 2020. "An Integrated Approach of Best-Worst Method (BWM) and Triangular Fuzzy Sets for Evaluating Driver Behavior Factors Related to Road Safety," Mathematics, MDPI, vol. 8(3), pages 1-20, March.
    10. Zsombor Szádoczki & Sándor Bozóki & Patrik Juhász & Sergii V. Kadenko & Vitaliy Tsyganok, 2023. "Incomplete pairwise comparison matrices based on graphs with average degree approximately 3," Annals of Operations Research, Springer, vol. 326(2), pages 783-807, July.
    11. Máximo Méndez & Mariano Frutos & Fabio Miguel & Ricardo Aguasca-Colomo, 2020. "TOPSIS Decision on Approximate Pareto Fronts by Using Evolutionary Algorithms: Application to an Engineering Design Problem," Mathematics, MDPI, vol. 8(11), pages 1-27, November.
    12. Kusi-Sarpong, Simonov & Orji, Ifeyinwa Juliet & Gupta, Himanshu & Kunc, Martin, 2021. "Risks associated with the implementation of big data analytics in sustainable supply chains," Omega, Elsevier, vol. 105(C).
    13. Gholamreza Haseli & Reza Sheikh & Jianqiang Wang & Hana Tomaskova & Erfan Babaee Tirkolaee, 2021. "A Novel Approach for Group Decision Making Based on the Best–Worst Method (G-BWM): Application to Supply Chain Management," Mathematics, MDPI, vol. 9(16), pages 1-20, August.
    14. He Huang & Shary Heuninckx & Cathy Macharis, 2024. "20 years review of the multi actor multi criteria analysis (MAMCA) framework: a proposition of a systematic guideline," Annals of Operations Research, Springer, vol. 343(1), pages 313-348, December.
    15. Wu, Qun & Liu, Xinwang & Zhou, Ligang & Qin, Jindong & Rezaei, Jafar, 2024. "An analytical framework for the best–worst method," Omega, Elsevier, vol. 123(C).
    16. Murad, C.A. & Bellinello, M.M. & Silva, A.J. & Netto, A. Caminada & de Souza, G.F.M. & Nabeta, S.I., 2022. "A novel methodology employed for ranking and consolidating performance indicators in holding companies with multiple power plants based on multi-criteria decision-making method," Operations Research Perspectives, Elsevier, vol. 9(C).
    17. Kheybari, Siamak & Javdanmehr, Mahsa & Rezaie, Fariba Mahdi & Rezaei, Jafar, 2021. "Corn cultivation location selection for bioethanol production: An application of BWM and extended PROMETHEE II," Energy, Elsevier, vol. 228(C).
    18. Bai, Chunguang & Zhu, Qingyun & Sarkis, Joseph, 2021. "Joint blockchain service vendor-platform selection using social network relationships: A multi-provider multi-user decision perspective," International Journal of Production Economics, Elsevier, vol. 238(C).
    19. Witold Torbacki, 2021. "Achieving Sustainable Mobility in the Szczecin Metropolitan Area in the Post-COVID-19 Era: The DEMATEL and PROMETHEE II Approach," Sustainability, MDPI, vol. 13(22), pages 1-25, November.
    20. Mohammadi, Majid & Rezaei, Jafar, 2020. "Bayesian best-worst method: A probabilistic group decision making model," Omega, Elsevier, vol. 96(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:75:y:2023:i:c:s0160791x23001719. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.