Comparative analysis of G-20 countries economic innovation performances with CRITIC-based WASPAS and Gray Relational Analysis methods

Innovation has been become an indispensable part of our age. With the development of technology, it makes great touches that will make our lives easier. At the same time, it is an important tool for countries and companies for the development of countries, sustainable economic growth, productivity, welfare and quality of life. Innovation activities lay the foundations of a more innovative, modern and livable world. The aim of this study is to examine the economic innovation performances of the G-20 Countries. The review uses data from the Global Innovation Index published annually. In the study, CRITIC (Criteria Importance Through Intercriteria Correlation) was used as the weight method from Multi-Criteria Decision Making Methods, and WASPAS (Weighted Aggregated Sum Product Assessment) and GRA (Gray Relational Analysis Method) from the ranking methods. A comparison was made between two separate ranking methods and Multi-Criteria Decision Making methods. In addition, the innovation indicators of the G-20 Countries are compared with the help of graphs. As a result of the study, the countries with the highest economic innovation were America, England, Canada and Japan.