Automatic ranking/prioritization on a kanban board based on a unique calculated value

Due to a large volume of incoming tickets to our Kanban board, my team would like an automated way to update the rank so that prioritization can happen automatically. We were hoping to update the rank field using a value that is an outcome of an internal calculation.

Is it possible to update the rank field using a calculated value in this way to enable prioritization of items on the backlog using scriptrunner or any other add-on? If the rank field cannot be modified, what are other ways to "rank" the items on the backlog?

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You'll need to do some coding to do this.

Don't mix up "prioritisation" with "ranking".  Priority is a simple "set this field to X" calculation.  Ranking means working out how important an issue is compared with others and moving the new issue in between one that is more important and one less important than it.

But yes, you can use ScriptRunner to do this.

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