CWW enhanced fuzzy SWOT evaluation for risk analysis and decision making under uncertainty

Abstract

The SWOT analysis is a method used worldwide to assist in the decision making in industrial, and business management, as well as in banking, military planning operations, and science. Without question, it is seen as an obligatory tool on both the governmental level, as well the personal. Until now, all data had to be collected from the experts and the decision makers in numerical form, and be presented in numerical form. In this paper, we aim to enrich the SWOT analysis using the 'Computing with Words' paradigm for expert knowledge extraction in a verbal form. By presenting data in this format, we allow experts to express their opinion alongside possible uncertainties. Moreover, enriched SWOT analysis results are extremely useful for the risk analysis and decision making.