Pareto Chart Explained: 80/20 Rule, Example & How to Create in Excel
A Pareto Chart is one of the 7 Basic Quality Tools used to identify the most significant factors in a problem. It is based on the Pareto Principle (80/20 Rule), which states that roughly 80% of effects come from 20% of causes. This chart helps organizations focus on the “vital few” issues that create the … Read more