Pareto Analysis

Decision MakingProblem SolvingEfficiency

Pareto Analysis, also known as the 80/20 rule, focuses on identifying the 20% of causes that result in 80% of the effects.

Introduction

Pareto Analysis, also known as the 80/20 rule, focuses on identifying the 20% of causes that result in 80% of the effects.

Key Steps

  1. Identify Problems: List all contributing issues or factors.
  2. Quantify Impact: Measure the significance of each factor.
  3. Prioritize: Focus on the most impactful 20% of causes.

Applications

  • Business: Identifying key revenue drivers.
  • Quality control: Addressing major defects.

Related Resources

  • Book: "The 80/20 Principle" by Richard Koch.
  • Tools: Pareto charts, Excel templates.

Related Topics

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