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Pareto charts can be used for a variety of analyses beyond customer feedback and productivity. They can be used in quality control to identify the most common sources of defects, in financial analysis to identify the most significant costs, or in sales to identify the products or services that generate the most revenue. They can also be used in risk management to identify the most serious risks, or in project management to identify the tasks that will have the greatest impact on the project's completion time.
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Next up are Pareto charts, which get their name from the Pareto principle, which states that for many outcomes, 80% of the consequences stem from 20% of the causes. This is a prioritization tool to help identify the most important next step. In the sample datasets, we have a customer feedback Pareto analysis that counts the occurrences of different reasons customers unsubscribe, and a productivity Pareto analysis that counts the number of monthly bottlenecks that interrupt company productivity.
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