Whiteboard: Pareto Analysis

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[@icecold3758]

Here In 2020 & you’ve explained in 7min what my lecturer couldn’t in 3hours 🙏🏾Thank you

[@vampireducks1622]

Hi. Does your chart not in fact show that the Pareto 80/20 does not hold for your data set? There are five causes of a phenomenon (med error) in your data and your chart show that the two most frequent of these account 80% of the phenomenon. In other words, two out of five, which is 40%, not 20%. That is, 40% (not 20%) of causes account for 80% of the phenomenon. The chart analysis may be useful, but it seems to me it doesn't establish the "Pareto Law" (or "Pareto Principle") in this case.

[@naayou99]

Isn't obvious from the beginning that wrong time and wrong med are the leading causes?

[@lyzabethhadynedwards2482]

nice handwriting, thorough, well done!

[@benitoscamelos5630]

The new Paretto principle is 99/1 1% owns most of the wealth

[@leversandpulleys9274]

If I inverse the objective to find which error rarely occurs instead of which error often occurs - those iconic two terms will change into vital many, trivial few. And that means the majority of the subject serves my value better than the minority; which is the opposite of the grandiose function of Pareto Distribution

[@curioustgeorge]

Vital few (80%) vs Trivial many (20%)

[@destruction1928]

He wrote trival instead of trivial.

[@noway4879]

Could this also be applied to economic wealth theories, let's say, why a small percentage of the world population owns most of the wealth on the planet? I ask this because Jordan Peterson used the Pareto distribution that way. However, im skeptical.

[@theBorderCzar]

You got a doctor's handwriting

[@yamin207eb]

Someone finally talked about Pareto sensibly. Thank mate

[@tiagosilvatavares3561]

Perfect explanation! Simplifying something with other materials tends to make it more complex is art!

[@barbieivy]

Wow this is 2024 and this is the best video ever made please don’t take this down ❤ I could understand this chart and you have explain this amazingly well 🙌🙌👏👏👏

[@sn7215]

i am blown away with the crisp explanation

[@tos3619]

Wow!!!! Thank you so much for a clear, succinct, and insightful tutorial on pareto charts! Thoroughly enjoyed this 👌👌

[@joy2pass]

Was studying this in a book and needed more explanation. This was fantastic and answered all of my basic questions. Thank you.

[@husseinaboel-einein4974]

The simplest way to explain Pareto Analysis. Very helpful.

[@kofieshun2877]

WOW! WOW!! WOW!!! THE BEST BY FAR!!!WHAT A PERFECT EXPLANATION!!!! I JUST LOVE IT.

[@heatherpeterson8376]

Most informative video I have found on this topic! Very nicely presented! Thank you for helping me understand!

[@gachikukamau3217]

A really clear & simple explanation of the analysis. Excellent delivery too. Thank you