![]() ![]() In economics, 20% of the richest countries have around 80% of the world‘s income.20% of the bugs often cause 80% of errors and crashes in the software.Here are some examples of the Pareto principle that can be found in real life. ![]() This principle has several practical applications in different sectors. For this reason, the Pareto principle is sometimes called the 80/20 rule. The principle states that about 80% of the effects come from 20% of the causes. From him derives a famous principle from which the relative Pareto analysis derives. Vilfredo Pareto was an Italian economist. In this article, I will show you how to make a Pareto chart in Excel.Ī Pareto chart is a kind of chart that includes both bars and a line graph, with the bars representing individual values in descending order and the line representing the cumulative total. How to create a Pareto chart in Excel? Do you want to know the major causes on which you should devote your efforts? Here is the reason why you should read this article. ![]()
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