Pareto charts are best used when you want to identify the biggest contributing factors to a measurable outcome. They help with identifying priorities and are often used in risk management. The name comes from Vilfredo Pareto, the originator of the 80/20 Rule, or the Pareto Principle, which roughly states that 80% value comes from 20% of a factor. An example would be 80% of sales comes from 20% of our customers.
Pareto chart
Getting ready
In this section, we will use a bar chart with reference lines to create a Pareto chart.
How to do it...
In this example, we are looking...
