Gurus,
We will see an interesting post named Pareto analysis this time.
Who is Pareto:
He is an Italian economist who found out 80% of Italian income going to 20% of the people by statistical values.
What is Pareto analysis:
Pareto analysis is a tool used in common management to find out which business process or unit impacting 80% of the issues.
Example of Pareto analysis:
1) 80% of Defects arise from 20% of process issues
2) 80% of revenue is derived from 20% of clients
3) 80% of material is delivered from 20% of vendors
Graphical example of Pareto analysis:
How to perform Pareto analysis:
There are several tools such as Minitab, QIMacros, ets., to perform Pareto analysis and find out the 20% of the reason which causes 80% of the issues.
Gurus,
Catch you soon with another post of Six sigma series!!!
We will see an interesting post named Pareto analysis this time.
Who is Pareto:
He is an Italian economist who found out 80% of Italian income going to 20% of the people by statistical values.
What is Pareto analysis:
Pareto analysis is a tool used in common management to find out which business process or unit impacting 80% of the issues.
Example of Pareto analysis:
1) 80% of Defects arise from 20% of process issues
2) 80% of revenue is derived from 20% of clients
3) 80% of material is delivered from 20% of vendors
Graphical example of Pareto analysis:
How to perform Pareto analysis:
There are several tools such as Minitab, QIMacros, ets., to perform Pareto analysis and find out the 20% of the reason which causes 80% of the issues.
Gurus,
Catch you soon with another post of Six sigma series!!!
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