Using Multi-Criteria Decision-Making Techniques to Select Criteria in Renewable Energy
Mahak Bhatia,
Aled Williams
Issue:
Volume 8, Issue 2, June 2023
Pages:
21-29
Received:
22 May 2023
Accepted:
20 June 2023
Published:
6 July 2023
Abstract: With global population increases, there is a noticeable change in pollution levels across the globe. This heightened environmental concern has played a significant role in sparking a growing demand for devices powered by renewable energy. The demand is not only a reflection of rising environmental awareness but is also driven by other factors, including the prospect of lower operating costs that renewable energy options can offer over their non-renewable counterparts. Renewable energy technology is a complex and rapidly evolving field. To effectively manage this growth, it has become crucial to carefully consider all the major parameters and constraints that impact the decision making process. This involves an understanding of technical parameters such as energy efficiency and durability, financial factors and environmental concerns such as the carbon footprint of the energy source. The task of integrating these diverse and often competing factors into a coherent decision making framework can be accomplished using Multi-Criteria Decision-Making (MCDM) techniques. These techniques have proven to be reliable and effective tools for tackling complex decision-making scenarios that involve multiple objectives. MCDM operates by identifying and prioritising the most viable alternatives within the decision space. This is done by considering the influential factors, or parameters and determining their relative importance to the overall decision making process. It should be noted that the application of MCDM is not merely theoretical. The analysis conducted using MCDM approaches incorporates the use of a sophisticated algorithm to deliver tangible and actionable output. The primary objective of this paper is to apply an MCDM approach specifically to the renewable energy technology sector. Further, it aims to identify and highlight the key criteria that are the most essential to the successful implementation and advancement of renewable energy systems.
Abstract: With global population increases, there is a noticeable change in pollution levels across the globe. This heightened environmental concern has played a significant role in sparking a growing demand for devices powered by renewable energy. The demand is not only a reflection of rising environmental awareness but is also driven by other factors, incl...
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Review Article
A Review on Digitalization of Agriculture and Economic Business Model Strategies in the 21st Century
Osuji Emeka*,
Igberi Christiana,
Osang Emmanuel,
Tim-Ashama Akunna,
Nwachukwu Esther,
Iheanacho Rachael,
Ezirim Kelechi
Issue:
Volume 8, Issue 2, June 2023
Pages:
30-41
Received:
27 October 2023
Accepted:
21 November 2023
Published:
30 November 2023
Abstract: Firms all over the world today are embracing new and innovative technologies in all facets of the economy including agriculture and business enterprise. These improved technologies enhance work efficiency and improves better performances. Agriculture and economic business digitalization have come to stay owing to the technological era. Nowadays organizations take advantage of these digital technologies in creating values, products and services in return for profits. A digital platform is used to develop unique selling proposition (USP). This indicates that a buyer will pay for goods or services, which is often monetized. Digital agricultural technologies are changing the face of modern agriculture. Wireless connectivity, data analytics, and data-driven genome editing are quickly being employed in agriculture because they give more precision in decision making and practice. These intriguing and novel technologies are being developed to enhance agricultural operations and economic businesses. In the coming years, every sector of the economy will be entirely online, and firms and individuals are expected to embrace these digital technologies to launch the needed revolutions in world agriculture and businesses. In the business world of today, transformation is crucial to remain competitive. Changing from analog to digital operations is taking precedence across the world. Freemium model, subscription model, ad-supported model, ecosystem model, and hidden-revenue model are some of the business models examined. However, reducing information asymmetry, matching buyers and sellers, lowering transaction costs in commercial markets, changing pricing approach, pursuing new markets, adopting new technological advancement and creating new goods or services are approaches in digitalizing agriculture and economic business growth.
Abstract: Firms all over the world today are embracing new and innovative technologies in all facets of the economy including agriculture and business enterprise. These improved technologies enhance work efficiency and improves better performances. Agriculture and economic business digitalization have come to stay owing to the technological era. Nowadays org...
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