A New Methodology for Ranking International Universities

Abstract

Objectives: With diversified criteria followed in different standard ranking schemes, the new approach for university ranking is proposed to recognize the salient features and identify weights to improve correlation of existing rankings. Methods/Statistical Analysis: University ranking data was collected from standard ranking schemes, along with their criteria and techniques. Then, the significant criteria were decided based on maximum (optimistic), minimum (pessimistic), and average weights present in the existing schemes. Further on, alpha value for the selected features to determine its impact on the ranking has been introduced. Finally, correlation was measured between our proposed four techniques and the standard ranking schemes. Findings: The pessimistic, optimistic and average weights scheme proposed uses 17 criteria. While, the alpha based approach requires only 7 criteria. Our schemes such as Alpha, Average, Optimistic and Pessimistic approach resulted in correlation value in the narrow range of 0.7 to 0.8 for the standard university rankings such as Times, QS, and Shanghai. It is clear that there is a good correlation between various approaches suggested and the standard ranking systems. As an added advantage, it is proved that the alpha value based approach can perform similar to existing standard ranking systems with minimal number of criteria. With limited information about various universities, the proposed Alpha approach can provide acceptable ranking schemes. Application/Improvements: The proposed alpha approach provides substantial ranking with minimal number of significant criteria for university ranking. It is not easy to obtain all the criteria used in standard ranking schemes for many universities in the world.