The Pareto Chart is a powerful tool that maintains the quality of services and products. Decision making is steered in the right direction, meaning efforts are streamlined to maximize output quality.
When implemented properly, Pareto analysis – via the Pareto chart – will identify major pitfalls in any business process in order to improve quality. This analysis uses the Pareto principle, that is, 20% of defects account for 80% of quality problems, or conversely, 80% of quality problems result from only 20% of causes.
In this FAT FINGER article you’ll learn what a Pareto chart is and when this tool should be used. You’ll then learn how to create a Pareto chart in 10 simple steps, plus how to interpret your results to achieve the greatest improvements to your business output. Sounds good?
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