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Construction of Quality Indicators Based on Pre-Established Goals: Application to a Colombian Public University

Author

Listed:
  • Vicente Liern

    (Department of Mathematics for Economics and Business, University of Valencia, Avda. dels Tarongers, s/n, 46022 Valencia, Spain)

  • Sandra E. Parada-Rico

    (School of Mathematics, Industrial University of Santander, Carrera 27 Calle 9. Edificio Camilo Torres, 680002 Bucaramanga, Colombia)

  • Olga Blasco-Blasco

    (Department of Applied Economics, Faculty of Economy, University of Valencia, Avda. dels Tarongers, s/n, 46022 Valencia, Spain)

Abstract

This study creates indicators of adequacy and excellence based on multiple-criteria decision-making (MCDM) methods and fuzzy logic. The calculation of indicators presents two main difficulties: The nature of the data (numerical, interval, and linguistic values are mixed) and the objective of each criterion (which does not have to reach either the maximum or the minimum). A method is proposed, based on similarity measures with predetermined ideals, that is capable of overcoming these difficulties to provide easy-to-interpret information about the quality of the alternatives. To illustrate the usefulness of this proposed method, it has been applied to data collected from students across nine semesters at the Bucaramanga campus of the Industrial University of Santander in Colombia. This case study demonstrates that the proposed method can facilitate strategic decisions at an institution and open the way for the establishment of action policies regarding gender inequality and economic disparity, among other things.

Suggested Citation

  • Vicente Liern & Sandra E. Parada-Rico & Olga Blasco-Blasco, 2020. "Construction of Quality Indicators Based on Pre-Established Goals: Application to a Colombian Public University," Mathematics, MDPI, vol. 8(7), pages 1-23, July.
    • Handle: RePEc:gam:jmathe:v:8:y:2020:i:7:p:1075-:d:379531
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    References listed on IDEAS

    as
    1. Sandra E. Parada & Olga Blasco-Blasco & Vicente Liern, 2019. "Adequacy Indicators Based on Pre-established Goals: An Implementation in a Colombian University," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 143(1), pages 1-24, May.
    2. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    3. Opricovic, Serafim & Tzeng, Gwo-Hshiung, 2004. "Compromise solution by MCDM methods: A comparative analysis of VIKOR and TOPSIS," European Journal of Operational Research, Elsevier, vol. 156(2), pages 445-455, July.
    4. Ouenniche, Jamal & Pérez-Gladish, Blanca & Bouslah, Kais, 2018. "An out-of-sample framework for TOPSIS-based classifiers with application in bankruptcy prediction," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 111-116.
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