Let us take an example of a Hotel for which the complaints data could look something as shown below:
In this tutorial, I will show you how to make a:
This is a widely used concept in project management to prioritize work. The 80/20 percentage value may vary, but the idea is that of all the issues/efforts, there a few that result in maximum impact. Pareto Chart is based on the Pareto principle (also known as the 80/20 rule), which is a well-known concept in project management.Īccording to this principle, ~80% of the problems can be attributed to about ~20% of the issues (or ~80% of your results could be a direct outcome of ~20% of your efforts, and so on.). Watch Video – How to Make a Pareto Chart in Excel
