What is Pareto Analysis

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Accepted Answer

Pareto Analysis is a technique used to prioritize issues by focusing on the most significant factors that contribute to a problem.

Pareto Analysis is based on the Pareto Principle, also known as the 80/20 rule, which states that roughly 80% of effects come from 20% of causes.
It helps identify the most important issues that need to be addressed first in order to have the greatest impact on overall quality.
By focusing on the vital few factors that contribute the most to a problem, resources can be allocated efficiently to address them.
For example, in a manufacturing setting, Pareto Analysis can be used to identify the most common defects that are causing production delays.
The analysis involves creating a Pareto chart, which visually represents the frequency or impact of different issues in descending order.

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