Pareto charts are a simple and effective way of determining the root cause of whatever problems you’re facing. They adhere to Pareto’s principle where 80% of the reasons production stop can be ...

When it comes to managing your workload, it can be challenging to decide where to focus your time and energy. The Pareto Principle, also known as the 80/20 rule, is a concept that can help you ...

In some situations, a count (frequency) is available for each category, or you can compress a large data set by creating a frequency variable for the categories before applying the PARETO procedure.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...