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Excel Crazy

Pareto Analysis

Pareto-Analysis is a statistical technique in decision making that is used for the selection of a limited number of tasks that produce significant overall effect. It uses the Pareto Principle (also know as the 80/20 rule) the idea that by doing 20% of the work you can generate 80% of the benefit of doing the whole job.

Why should use Pareto Charts?
Pareto Chart helps us by showing where to focus efforts in order to maximize achievements. Focusing efforts on ‘vital few’ causes is usually a better use of valuable resources.

When Should we use Pareto Charts?

Pareto is very much useful tool when you can count the number of times each defects occurs. Pareto Chart is constructed by segmenting the range of data’s into groups. If you have the count of your data then Pareto is very helpful in Problem-solving decision making.

4 responses on "Pareto Analysis"

  1. Hi..I am looking for VBA Macro program.

    Please if you can provide course details of courses offered and also location.

    Thanks
    Pulkit

  2. Hey XCL Crazy…Its really awesome and useful… thanks a lot to share with us… we are looking for some more cool stuff..:)

  3. Really awesome Template, helps a lot

  4. I really liked the idea. This is very informative and helps people like us who need to have a good show in front of our leadership teams and need to show results in a different fashion. Too Good!!!

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