![]() Suppose we have data as shown in the screenshot below. 20% of the bugs cause 80% of the software issues.20% of the people in this world acquire 80% of the wealth.20% of the stakeholders own 80% of the shares of one particular company.Some real-life examples of the Pareto Principle can formulate as follows: ![]() The analysis done using this principle is also known as Pareto Analysis. This principle is often remembered as an 80/20 pattern hence, it is called the Pareto Principle. Vilfredo Pareto, an Italian economist, first developed the 80/20 principle. Pareto Analysis has based on the Pareto principle, which says 80% of the effect for a particular event (or many events in that case) has its roots in 20% of the causes/reasons. Introduction to Pareto Analysis in Excel.Excel functions, formula, charts, formatting creating excel dashboard & others
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