what is a pareto chart? what is the use of that?

Answer 1

A Pareto chart is a special type of bar chart where the values being plotted are arranged in descending order. It is named for Vilfredo Pareto, and its use in quality assurance was popularized by Joseph M. Juran and Kaoru Ishikawa.

The Pareto chart is one of the seven basic tools of quality control, which include the histogram, Pareto chart, check sheet, control chart, cause-and-effect diagram, flowchart, and scatter diagram. See Quality Management Glossary.

Typically the left vertical axis is frequency of occurrence, but it can alternatively represent cost or other important unit of measure. The right vertical axis is the cumulative percentage of the total number of occurrences, total cost, or total of the particular unit of measure. The purpose is to highlight the most important among a (typically large) set of factors. In quality control, the Pareto chart often represents the most common sources of defects, the highest occurring type of defect, or the most frequent reasons for customer complaints, etc.

http://en.wikipedia.org/wiki/Pareto_chart

Answer 2

A pareto chart is used to graphically summarize and display the relative importance of the differences between groups of data.

A pareto chart can be constructed by segmenting the range of the data into groups (also called segments, bins or categories). For example, if your business was investigating the delay associated with processing credit card applications, you could group the data into the following categories:

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Answer 3

A Pareto chart is a type of histogram used to rank-order causes of a problem or defect from most frequent to least frequent. It's used to determine which are the predominate causes (following the 80/20 rule which says that roughly 80% of a problem results from 20% of the possible causes). It was invented by an Italian economist named Pareto (don't remember his first name) who first observed that roughly 80% of the wealth was held by 20% of the population.

Answer 4

http://www.isixsigma.com/library/content/c010527a.asp

here you go buddy. it's basically a chart with a line graph to shows the relationships in different data sets to see how they affect each other. if you have more questions like this one, just check any six sigma site. those guys are super experts.