While working in environments where costly software is not easily accessible across the organization, an Excel-based Pareto chart can come in handy. A dynamic Pareto chart template can be a practical aid to practitioners in this situation.
A pareto chart is used to graphically summarize and display the relative importance of the differences between groups of data. Learn when it's appropriate to use a pareto chart, histogram and bar chart, and what the differences are.
The Pareto principle comes from Vilfredo Pareto, an economist. Included here are examples of the 80/20 rule.