The ternary analytic system for decision-making

Abstract

The findings of the research on the new approach to decision-making in the current business environment have been presented. The study has been focused on the techniques of the business performance evaluation and developing a decision support analytical system. Nowadays the key factors of business success have changed and the management tools have to change with a view to taking into the account the intellectual part of the value of goods or information costs. Additionally, the investors and managers have to take into consideration new types of business organizations, shadow financial transfers and cross-industrial economic relations. The new approach bases on the non-categorical (ternary) analytical estimation of socio-economic results which makes it possible to tackle intangible corporate assets, time and traditional financial indicators as the equivalent components for decision-making. The study has contributed to the development of the economic calculation by introducing a socio-related analytic system. The research methods included the barycentric algebra, the data envelopment analysis (DEA), the cost benefit analysis, the econometric modelling and the traditional financial diagnostics. These quantitative methods were supported by qualitative techniques such as expert survey and benchmarking. The prospective research results will be useful for improving the decision-making, developing managerial applications and business performance management. The study aims to provide recommendations on the improvement of the business climate in Asia and CIS countries.