Pairwise comparison is a process of comparing facts in pairs to judge which of each fact is preferred or has a greater amount of some quantitative property, or whether or not the two facts are identical.
When you have a set of Options with some Pros and Cons, this tool can ask you questions like, how much you care about one fact over another. After capturing all the comparison information, the tool can calculate relative importance for each pro and con and sum up a final worthiness of an option. This method can be very useful and give you a better picture of the decision context.
In order to use Pairwise Comparison method, you can check the following option in the Start page and click OK.
Now, add as many options as you want and under each option, you can add as many Pros / Cons as you want.
A Pair Comparison Panel will appear at the bottom that will allow you to set relative importance for a number of pairs at a time.
This tool will calculate the Relative Importance of Each Pro and Con by calculating Eigen Value / Eigen Vector of the matrix captured by all comparisons. (Similar to Analytic Hierarchy Process). This tool will also calculate Consistency Ratio metric which indicates, how consistent you are in your judgment on evaluating a pair of facts.
The calculated relative weight will be displayed by the Pro / Con.
Finally, all relative weights of all Pros and Cons are summed up for an option and displayed in the result panel. The result is always calculated instantly and updated in the Result Panel.
Using the benefit of Heuristic Analysis
The number of pairwise comparisons depends on how many Pros and Cons are there in the whole Decision Context. Using Heuristic Analysis, you can reduce the number of Pros Cons in your decision context. Then your Pair Comparison lists will be shorter and the quality of judgment will be higher.