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Tools & Techniques - Pareto Charts

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Title: Tools & Techniques - Pareto Charts

Essay Details:

Subject: Business

Author: Maxine C

Date: January 12, 2017

Level:

Grade: A

Length: 5 / 1446

Essay text:

They are a form of vertical bar chart. Attributes are discussed. Suggestions on when to use a Pareto chart are made. Pareto analysis is one way to determine major causes of particular problems. A review is provided with suggestions for alternatives. The Pareto chart is a valuable decision making tool. Tools & Techniques Pareto Charts As a decision-making tool, the Pareto chart provides facts and insights necessary for setting priorities. Vilfredo Pareto was an Italian economist credited with establishing what is now widely known as the Pareto Principle. It is also known as the "80/20 Rule" (iSixSigma, 2006)...

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