Pareto Chart Microsoft Word. The bars, plotted in descending order, represent the relative frequency of values, and the line represents. The chart is named for the Pareto principle, which, in turn, derives its name from Vilfredo Pareto.
You can use spreadsheet software such as Microsoft Excel for this step. For example, if your business was investigating the delay associated with processing credit card applications. Problem analysis with pareto chart is easy as well.
The Pareto chart analysis is a statistical graphical technique used to map and rank business process problems starting from the most frequent to the least frequent with the ultimate goal In this article, we will show you how and when to use a Pareto chart analysis using Microsoft Excel or simply by hand.
Although Pareto charts can be easily graphed in several different project management applications, not everyone has access to software of this type.
The chart is named for the Pareto principle, which, in turn, derives its name from Vilfredo Pareto. A Pareto chart is a type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the ascending cumulative total is represented by the line. A Pareto Chart is a graph that indicates the frequency of defects, as well as their cumulative impact.