Pareto chart of Pokemon

Got to catch them all!

A Pareto analysis is based on the principle suggested by Joseph Juran (and named after Vilfredo Pareto) that 80% of the problems/issues are produced by 20% of the issues. This is the famous 80/20 rule, and this principle is sometimes summarized as the vital few versus the trivial many. Process improvement professionals use the Pareto principle to focus limited resources (time and money) on a limited number of items that produce the biggest benefit. (more…)