if you want more profits, it also matters WHO is making the complaints. If the marginal majority are making the complaints, then it may not be worth any of your time or effort addressing them. If you want more profitable customers, then you'd focus on addressing their 80/20 complaints by eliminating them from operations and by highlighting these new benefits and features in your marketing materials and media buy targeting
Excellent - glad to hear it. It has been awhile but I have a number of process improvement videos coming soon that you might be interested in… stay tuned!
High-quality content, thank you. This was the sixth video I watched on the Pareto Chart, and you went above and beyond in your explanation of this analytical technique. Subscribed in case you drop anything else (no pressure though).
I was really looking for such an explanation & want to learn such analysis-related skills, can suggest any books for this and please keep these videos coming, thank you so much!
Thanks for the feedback. I'm sure there are books available, but I can't recommend any as I personally learned these tools through practice (at work). Stay tuned for more analysis-related skills videos and courses.
Not exactly. Paretos and histograms are both visual representations of data. Histograms illustrate the distribution of data, and show the “shape” of the data of a variable. If you were showing how many dirty rooms there were each day over the course of a year, a histogram would be a better way of displaying this than a Pareto. Hope that helps a little!
That really depends on what you’re analysing. In my example, a multifactorial analysis using a statistical analysis tool such as Minitab would be extremely useful
Normally, Pareto works with positive numbers, like the number of times something happens. If you have negative values (like losing points instead of gaining them), you can still use a Pareto chart, but it might look a bit strange. Here's a simple way you might be able to deal with it: 1. Separate Negatives and Positives: Make two charts - one for positive values and one for negative values. 2. Flip the Negatives: Treat negative values like positive ones, but show them going down instead of up. This way, you can see which negative things are most important and need fixing, just like you see which positive things are most important. Hope that helps!
Thanks for the explanation! It has helped me to finally understand how the Pareto chart works.
This was very helpful, I just started as the Manager of Operations at a large Hotel.
One of the best explanations for Pareto chart in UA-cam. Thanks😊
Thank you for explaining how the percentages are plotted! That was a huge help in understanding and no other videos I found explained it.
if you want more profits, it also matters WHO is making the complaints. If the marginal majority are making the complaints, then it may not be worth any of your time or effort addressing them. If you want more profitable customers, then you'd focus on addressing their 80/20 complaints by eliminating them from operations and by highlighting these new benefits and features in your marketing materials and media buy targeting
Thank you! I used the 80/20 rule watching this video, I spent 5 minutes to get the 80% outcome.
Super beneficial ! Finally someone who made this so simple to understand!
It is indeed a brief and understandable explanation compared to others available on the web
This is the best lesson on Pareto chart I have understood well within a short time. Thank you so much 🙏😊
Watched several videos on this topic but this Was the best explanation in my opinion. Thanks
Broke it down so well for me. Much appreciated
Thank you for an informative, well-organized, and balanced (pros and cons) explanation. The visuals are spot on. Nicely done!
You've earned your 486th subscriber. =)
Amazing - thank you so much!
Loved. Subscribed
I didnt understand when my Plant manager told about Pareto charts.I checked Internet but didnt understand much,Your video was extremely helpful.
Excellent - glad to hear it. It has been awhile but I have a number of process improvement videos coming soon that you might be interested in… stay tuned!
One of the best explanations I've seen, this video makes an easy concept easy to understand.
Very nice and straight forward presentation.
This is the best explanation i have ever received. Thanks
Great explanation! I needed this for my current project. Thank you
High-quality content, thank you. This was the sixth video I watched on the Pareto Chart, and you went above and beyond in your explanation of this analytical technique. Subscribed in case you drop anything else (no pressure though).
Thank you so much 🙏
Fantastic explanation. Thank you so much!
I was really looking for such an explanation & want to learn such analysis-related skills, can suggest any books for this and please keep these videos coming, thank you so much!
Thanks for the feedback. I'm sure there are books available, but I can't recommend any as I personally learned these tools through practice (at work). Stay tuned for more analysis-related skills videos and courses.
Very informative and helpful to me especially since I am new to Quality Management. Looking forward to the root cause analysis tutorial :)
Excellent and thorough explanation.
Amazing explanation, informative and easy to follow .Thank you
Brilliant explanation! Thanks for making this amazing vid!
The explanation is wonderful.
great presentation. ty
Thanks for making the concept so simple and easy
Your explanations are very good, with simple examples and easy to follow, immediately I can apply them in my work
Glad to hear it - mission accomplished!
Explained in a usable way, Thanks
Thank you very much
Great Explanation. Thank you 🤭
Good video for understanding pareto analysis
Thanks for more clarification.
Excelent video! By far the best explantion on the Pareto Chart on UA-cam!
Question - Do you have any videos regarding SQDCP/SQDC Boards?
Thanks 🙏… unfortunately not; I will probably talk about visual management and VMBs in general in the future, but unlikely to get as specific as SQDC.
You explained it so well. Thank you.
This is outstanding! Thank you!
Great Explanation !! Thanks .
You're amazing.. Thank you so much!!
Perfectly Explained Thanx.
Thanks for the amazing explanation!
Great Introduction
Great explanation
Thankyou!..well explained :)
Great video! Keep it up! Very informative!
Thanks so much!
Loved. Subscribed
Very well eplained . Thank you
This was a great video, good job man.
Thanks dude
That was really informative
I enjoyed the lesson. Can't find the subscribe and notification button
Nice and easy explanation. I would like to ask how to use it with rolling correlation data? what i might gain?
You could consider analysing changes from period to period (e.g. monthly) to understand what and then why the data is moving in certain ways.
Outstanding! Thank you very much. Subscribed gladly.
Thanks Namgay!
So we’ll explained. Thanks
thank for the info great content
So useful
Thanks
Is the data that is used to create the Pareto graph a Histogram? Thanks. Great job!
Not exactly. Paretos and histograms are both visual representations of data. Histograms illustrate the distribution of data, and show the “shape” of the data of a variable. If you were showing how many dirty rooms there were each day over the course of a year, a histogram would be a better way of displaying this than a Pareto. Hope that helps a little!
12/15 stars⭐️… 80% 🧐
whats the next best alternative than the pareto ? which could get 5 stars
That really depends on what you’re analysing. In my example, a multifactorial analysis using a statistical analysis tool such as Minitab would be extremely useful
Many thanks for this lesson. Any chance you can post a link to that Excel workbook?
Sorry Helton, unfortunately now - in the future I will make worksheets available 🙂
@@risrcareers Thanks, Raff. Cheers!
Super 😎
Hi there, can you please add the link for Root Cause Analysis
Hi - that video is not available yet. I’ll link it once completed 👍
how pareto chart deal with negative values ?
Normally, Pareto works with positive numbers, like the number of times something happens.
If you have negative values (like losing points instead of gaining them), you can still use a Pareto chart, but it might look a bit strange. Here's a simple way you might be able to deal with it:
1. Separate Negatives and Positives: Make two charts - one for positive values and one for negative values.
2. Flip the Negatives: Treat negative values like positive ones, but show them going down instead of up.
This way, you can see which negative things are most important and need fixing, just like you see which positive things are most important.
Hope that helps!
Whats the font used
Avenir 🤓
Lol someone being naughty 😆😅