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Pareto principle: 80-20 rules
1. Pareto principle: 80-20 rules
The Pareto chart is named after Vilfredo Pareto, 1848-1923, an Italian economist.
2. Pareto principle: 80-20 rules
Vilfredo Pareto (1848-1923) made the observation that 20% of the population owned 80% of the wealth.
This idea has been called Pareto's principle and has been applied in many other areas.
3. Pareto chart
A Pareto chart is a combination chart that shows an individual count or frequency using a column bar chart, ordered in decreasing order from left to right, and a cumulative distribution using a line chart.
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