Pareto Analysis 1.0

Pareto Analysis is a statistical technique in decision.

Pareto Analysis is a statistical technique in decision making that is used for selection of a limited number of tasks that produce significant overall effect.

It uses the Pareto principle – the idea that by doing 20% of work, 80% of the advantage of doing the entire job can be generated. Or in terms of quality improvement, a large majority of problems (80%) are produced by a few key causes (20%).