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Predictive analytics and disused railways requalification: insights from a Post Factum Analysis perspective

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  • Ciomek, Krzysztof
  • Ferretti, Valentina
  • Kadzinski, Milosz

Abstract

Strategic decision making problems in the public policy domain typically involve the comparison of competing options by different stakeholders. This paper considers a real case study oriented toward ranking potential actions for the regeneration of disused railways in Italy. The study involves multiple con icting criteria such as an expected duration of construction works, costs, a number of potential users, and new green areas. Within this context, we demonstrate that Post Factum Analysis (PFA) coupled with Decision Aiding supports the development of robust recommendations. The role of PFA is to highlight how the actions' performances need to be modified so that the recommendation is changed in a desired way. In particular, it highlights the minimal improvements that would warrant the feasibility of some currently impossible outcome (e.g., achieving a better position in the ranking) or the maximal deteriorations that alternatives can afford to maintain some target result (e.g., not losing their advantage over some other options). The use of a focus group with both experts and participants in the decision making process provided insights on how PFA can support: (i) the creation of arguments in favour or against the respective options under analysis, (ii) understanding of the results' sensitivity with respect to possible changes in the alternatives' performances, (iii) a better informed discussion about the results among the participants in the process, and (iv) the development of new/better alternatives.

Suggested Citation

  • Ciomek, Krzysztof & Ferretti, Valentina & Kadzinski, Milosz, 2018. "Predictive analytics and disused railways requalification: insights from a Post Factum Analysis perspective," LSE Research Online Documents on Economics 85922, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:85922
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    File URL: http://eprints.lse.ac.uk/85922/
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    Cited by:

    1. Anna Labijak-Kowalska & Miłosz Kadziński, 2023. "Exact and stochastic methods for robustness analysis in the context of Imprecise Data Envelopment Analysis," Operational Research, Springer, vol. 23(1), pages 1-34, March.
    2. Arandarenko, Mihail & Corrente, Salvatore & Jandrić, Maja & Stamenković, Mladen, 2020. "Multiple criteria decision aiding as a prediction tool for migration potential of regions," European Journal of Operational Research, Elsevier, vol. 284(3), pages 1154-1166.
    3. Cinelli, Marco & Kadziński, Miłosz & Gonzalez, Michael & Słowiński, Roman, 2020. "How to support the application of multiple criteria decision analysis? Let us start with a comprehensive taxonomy," Omega, Elsevier, vol. 96(C).
    4. Kadziński, Miłosz & Stamenković, Mladen & Uniejewski, Maciej, 2022. "Stepwise benchmarking for multiple criteria sorting," Omega, Elsevier, vol. 108(C).
    5. Rovelli, Roberto & Senes, Giulio & Fumagalli, Natalia & Sacco, Jessica & De Montis, Andrea, 2020. "From railways to greenways: a complex index for supporting policymaking and planning. A case study in Piedmont (Italy)," Land Use Policy, Elsevier, vol. 99(C).
    6. Wang, Hao & Zhao, Yizhu & Gao, Xichen & Gao, Boyang, 2021. "Collaborative decision-making for urban regeneration: A literature review and bibliometric analysis," Land Use Policy, Elsevier, vol. 107(C).
    7. Guo, Mengzhuo & Liao, Xiuwu & Liu, Jiapeng & Zhang, Qingpeng, 2020. "Consumer preference analysis: A data-driven multiple criteria approach integrating online information," Omega, Elsevier, vol. 96(C).

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    More about this item

    Keywords

    Multiple criteria; analysis; Post Factum Analysis; ensitivity analysis; Urban regeneration; participation; Greenways;
    All these keywords.

    JEL classification:

    • J50 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - General

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