Report of the Week - Pareto Chart
A Pareto Chart helps identify the frequency of a factor (count) and its cumulative impact. The chart is a combination of a bar and a line chart. The bar represents the count of the components being analyzed and the line represents the cumulative impact of the bar component with each progression.
You can use a Pareto Chart when you have a huge data set and want to analyze the major components of your data. A few places where you can use a Pareto Chart to analyze are:
- Major bugs that contribute to your product
- Marketing campaigns that worked the most
- Tasks that require the most effort
- Best selling products of a company
Now, let us see how to create a Pareto Chart, to find out the best selling products of a company, with the help of a video.
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