Pareto Chart

What are scientific facts? This is always interesting and useful information. However, sometimes it requires careful analysis, and because of the complexity of some people it seems easier to refuse to consider the issue under study.

But we are not looking for easy ways! We suggest that you familiarize yourself with the concept of the Pareto chart.

Pareto Chart (or Pareto Curve) - this is a graphic reflection of the Pareto law, the cumulative (gradually accumulating) dependence of the distribution of certain resources or results on a large number of reasons.

Where did it all begin, and how did science become aware of the Pareto diagram? In 1897, the Italian scientist sociologist and economist Wilfredo Pareto revealed a surprising pattern. Subsequently, she received his name: the Pareto principle.

Its essence lies in the fact that the more the size of controlled property increases, the smaller the number of people responsible for it. This law is also called 80 to 20 or just 80/20.

Pareto distribution function for various k

That is, 20% of people control 80% of wealth. And this pattern works in all spheres of activity: 20% of efforts always give 80% of results.

If the Pareto diagram helped you solve your question - be sure to share the post.

Watch the video: Create a Pareto Chart (March 2020).

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