![]() In Microsoft Excel, it is kind of sorted histogram that contains both vertical bars and a horizontal line. ![]() Pareto chart, also called a Pareto diagram, is a graph based on the Pareto principle. ![]() To identify the most significant factors that you should focus on, you can draw a Pareto chart in your Excel worksheet. In software, 20% of bugs cause 80% of errors and crashes.In medicine, 20% of patients are reported to use 80% of health care resources.In economy, the richest 20% of the world's population control about 80% of the world's income.Here are a few practical examples of the Pareto principle: Which is why, the Pareto principle is sometimes called the 80/20 rule. And this principle states that for many events about 80% of the effects come from 20% of the causes. Pareto analysis is based on the Pareto principle, named after Italian economist Vilfredo Pareto.
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