Pareto Analysis is a statistical technique in decision-making that is used to identify a limited number of tasks that will produce the most significant overall effect. It is based on the Pareto Principle, which states that 80% of the advantage of doing the entire job can be achieved by completing only 20% of the work. In terms of quality improvement, it suggests that a vast majority of problems (80%) are caused by a few key sources (20%). This app can be used to identify the few portfolios that will give the highest profit.
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