Operations Research, Systems Engineering and Industrial Engineering Commons^™

Analyzing Responses From Likert Surveys And Risk-Adjusted Ranking: A Data Analytics Perspective, Abhijit Gosavi

Engineering Management and Systems Engineering Faculty Research & Creative Works

We broadly consider the topic of ranking entities from surveys/opinions. Often, numerous ranks from different respondents are available for the same entity, e.g., a candidate from a pool, and yet an averaging of those ranks may not serve the purpose of identifying a consensus candidate. We first consider a risk-adjusted paradigm for ranking, where the rank is defined as the average (mean) rank plus a scalar times the risk in the rank; we use standard deviation as a risk metric. In case of a candidate being ranked either on the basis of opinions of a selection committee's members or on …