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Pareto charts can be used in strategic planning in various ways. They can help identify the most significant factors in a set of data. For instance, they can be used to prioritize problems or causes in order to take corrective action. They can also be used to highlight the most important factors in a process, project, or product. This can help in focusing on areas that could provide the greatest improvement. They can also be used to compare the before and after effects of changes made in a process or system.
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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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