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What Is Pareto Analysis

Please rate, support, and subscribe to our YouTube Channel. For more ISO-related videos and webinars please subscribe to our channel.    / tnvakademi   Pareto analysis is a technique used for business decision-making, but which also has applications in several different fields from welfare economics to quality control. It is based largely on the "80-20 rule." As a decision-making technique, Pareto analysis statistically separates a limited number of input factors—either desirable or undesirable—which have the greatest impact on an outcome. Typically, Pareto analysis is employed by business managers, whose approach typically involves conducting a statistical analysis, such as a cause and effect analysis, to produce a list of potential problems and the outcomes of these problems. Following the information provided by the cause and effect analysis, the 80-20 rule can be applied. #TNVAKADEMI#PARETOANALYSIS#QUALITYTOOLS#ISO9001#ISO14001#ISO45001#ISO50001#ISo13485#ISO27001#ISO22000#ISO37001#ISO22301