A Pareto analysis template will provide a graphic representation of the Pareto principle. This principle states that 80% of the output in a specific system or situation gets generated by 20% of the input. It’s one of the basic tools used in quality control.
When you see Pareto charts examples, you’ll find out that they are very informative. The chart shows independent variables on the horizontal axis. Then you’ll portray the dependent variables as the heights of the bars. In this article, we’ll learn more about Pareto charts. Here are some of the benefits of performing a Pareto analysis:
- Efficiency of the organization
- Improved problem-solving skills
- Enhanced decision-making
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