Fuzzy Management Methods

With today’s information overload, it has become increasingly difficult to analyze the huge amounts of data and to generate appropriate management decisions. Furthermore, the data are often imprecise and will include both quantitative and qualitative elements. For these reasons it is important to extend traditional decision making processes by adding intuitive reasoning, human subjectivity and imprecision. To deal with uncertainty, vagueness, and imprecision, Lotfi A. Zadeh introduced fuzzy sets and fuzzy logic. In this book series “Fuzzy Management Methods” fuzzy logic is applied to extend portfolio analysis, scoring methods, customer relationship management, performance measurement, web reputation, web analytics and controlling, community marketing and other business domains to improve managerial decisions. Thus, fuzzy logic can be seen as a management method where appropriate concepts, software tools and languages build a powerful instrument for analyzing and controlling the business.