80% of the problems are due to 20% of causes.Developed by Vilfredo Pareto, an Italian Economist, and also called as Pareto 80/20 Rule. This principle states that 80% of the impact of the problem will come because of 20% of the causes. It is used to separate the most important causes of a problem from the trivial many. Learn step by step, how to create Pareto in Excel and how to interpret the graph. Pareto analysis also known as 80/20 rule is one of the most widely used and simple tool to prioritize opportunities in problem solving. Pareto charts are used to prioritize problems (or opportunities) so that the major problems (or opportunities) can be identified. You will also learn, how to interpret Pareto chart. Learn how to create different types Pareto chart with very simple examples using excel.
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