An agent-based fuzzy cognitive map approach to the strategic marketing planning for industrial firms

Lee, Kun Chang; Lee, Habin; Lee, Nam-Ho; Lim, Jaehoon

doi:10.1016/j.indmarman.2013.03.007

Cited by 47 publications

(17 citation statements)

References 34 publications

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“…Additionally: (1) the problem can be modeled as FCM but this does not guarantee its resolution; (2) the map may not be able to model the occurrence of multiple causes; (3) the FCMs do not provide the actual value, but estimates of parameters or inferential statistical tests; and (4) FCMs are not clear as far as the concept of time is concerned. Other authors, such as Lee et al (2013), also present the following limitations to FCMs: (i) when applied to the real world, FCMs are generally too large or complex; (ii) there are techniques for the construction of FCMs which are sometimes inadequate or impractical; (iii) existing efforts to deal with delays require the creation of fictitious nodes/criteria, artificially increasing the complexity of the map; and (iv) FCMs are non-linear systems. All in all, however, it is worth noting that FCMs have been acknowledged for holding "powerful and far-reaching consequences as a mathematical tool for modeling complex systems" (Mazlack 2009: 5).…”

Section: Fig 2 Fcm Stabilization and Value Convergence Pointsmentioning

confidence: 99%

A Fuzzy Knowledge-Based Framework for Risk Assessment of Residential Real Estate Investments

Ribeiro¹,

Ferreira

Jalali

et al. 2017

Technological and Economic Development of Economy

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Abstract. Risk analysis of residential real estate investments requires careful analysis of certain variables (or determinants). Because real estate is a key sector for economic and social development, this risk analysis is seen as critical in supporting decision processes relating to buying or selling residential properties, partly due to the pressures caused by the current economic environment. This study aims to develop a conceptual reference model for risk assessment of residential real estate using fuzzy cognitive mapping. This fuzzy model allows cause-and-effect relationships between determinants to be identified and better understood, which in turn allows for better informed investment decisions. The results show that the use of cognitive maps reduces the number of omitted criteria and favors learning with regard to how the criteria relate to each other, holding great potential and versatility in structuring complex decision problems. Practical implications, strengths and weaknesses of our proposal are discussed.

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Section: Fig 2 Fcm Stabilization and Value Convergence Pointsmentioning

confidence: 99%

A Fuzzy Knowledge-Based Framework for Risk Assessment of Residential Real Estate Investments

Ribeiro¹,

Ferreira

Jalali

et al. 2017

Technological and Economic Development of Economy

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show abstract

“…FCMs are reported to be a worthy tool for learning-style recognition as they are effective in handling the uncertainty and fuzziness of a learning style diagnosis. Lee et al (2013) apply FCM to long-term industrial marketing planning in business and management discipline.…”

Section: Fuzzy Cognitive Maps For Decision Modelling and Impact Simulmentioning

confidence: 99%

Big data-driven fuzzy cognitive map for prioritising IT service procurement in the public sector

2016

Self Cite

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The prevalence of big data is starting to spread across the public and private sectors however, an impediment to its widespread adoption orientates around a lack of appropriate big data analytics (BDA) and resulting skills to exploit the full potential of big data availability. In this paper, we propose a novel BDA to contribute towards this void, using a fuzzy cognitive map (FCM) approach that will enhance decision-making thus prioritising IT service procurement in the public sector. This is achieved through the development of decision models that capture the strengths of both data analytics and the established intuitive qualitative approach. By taking advantages of both data analytics and FCM, the proposed approach captures the strength of data-driven decision-making and intuitive model-driven decision modelling. This approach is then validated through a decision-making case regarding IT service procurement in public sector, which is the fundamental step of IT infrastructure supply for publics in a regional government in the Russia federation. The analysis result for the given decision-making problem is then evaluated by decision makers and e-government expertise to confirm the applicability of the proposed BDA. In doing so, demonstrating the value of this approach in contributing towards robust public decision-making regarding IT service procurement.

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“…Salmeron and Gutierrez [41] proposed fuzzy grey cognitive map with a reliability analysis of a transformer active part in order to assist electric power system decision-making. Lee et al [29] proposed feedback-based FCM for feedback design in product problem and also indicated "feedback" applied into FCM evaluation. Cheah et al [12] proposed FCM constructor to verify product design decision making problems for modelling, representing, and reasoning about causal design knowledge [19].…”

Section: Fuzzy Cognitive Mapsmentioning

confidence: 99%

Fuzzy dual experience-based design evaluation model for integrating engineering design into customer responses

Chen

2016

Int J Interact Des Manuf

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Experience-based design is a recently emerging method used to capture the emotional content of customer experiences. Both the engineer's experiences and customer's experiences for dual experiences are important in delivering high quality user-centred product design. To assess dual experiential design optimization, fuzzy decision tree and fuzzy cognitive map are integrated in engineering design perspectives. This study aims at optimizing complex interactions and experiential design system with imprecise relationships while quantifying the performance impact of engineering design efficiency on customer satisfaction. The experiment is conducted by utilizing sensitivity analysis of the three degrees of fuzzy membership function using a product mix-experience problem. The evaluation results show that this dual experience-based design approach can help R&D design, deliver high quality product development experiences and co-create value with customers to yield a high performance engineering design.

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An agent-based fuzzy cognitive map approach to the strategic marketing planning for industrial firms

Cited by 47 publications

References 34 publications

A Fuzzy Knowledge-Based Framework for Risk Assessment of Residential Real Estate Investments

A Fuzzy Knowledge-Based Framework for Risk Assessment of Residential Real Estate Investments

Big data-driven fuzzy cognitive map for prioritising IT service procurement in the public sector

Fuzzy dual experience-based design evaluation model for integrating engineering design into customer responses

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