How do you update and refine your Pareto analysis over time?
Pareto analysis is a powerful tool for identifying the most significant causes of a problem or the most beneficial actions to take. It is based on the principle that 80% of the effects come from 20% of the causes, also known as the 80/20 rule. However, Pareto analysis is not a one-time exercise. To keep it relevant and useful, you need to update and refine it over time. Here are some tips on how to do that.
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