Pareto Analysis

‘Pareto Principle’ is also known as ‘Pareto Law’, ‘Pareto Rule’ , ‘Principle of Imbalance’ or simply ‘The 80/20 Rule’.

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Description

Are you confused in utilizing your resources and find it difficult to manage your work?  Then this course is for you.  Pareto Analysis teaches you about time management and how to effectively utilize the resources available with you.   After enrolling, readers can gain expert knowledge on how to use Pareto Principles, learn how to learn Pareto Analysis using graphs.

The course begins with an interesting note which explains how 80% of Italy's wealth was held by 20% of population.  This principle was introduced by Vilfredo Pareto long back in 1879.  Even though it was introduced over a century ago, it still proves to be an useful tool even today.   The main underlying concept in this Pareto Principle is "you get 80% of your results from just 20% of your time and effort.

This course also lists the uses of Pareto Principle. They are:-

  1. It helps to reduce operating costs

  2. It is used to bridge the gap between efforts and achievements

  3. It helps to grow and develop the business

  4. It helps to identify crucial problems

  5. It helps you to focus on and use your core strengths

  6. It helps to focus on activities that produce the greatest outcomes

  7. It helps to maximize productivity

  8. It helps to eliminate or reduce non productive and low priority activities

  9. It is used as an gross error checking tool

Effective Time Management, the Pareto Way means you should focus your efforts on giving your best shot to the top 20% of your activities. So, you should take a piece of paper and jot down all the activities or tasks you need to do in a day. Prioritize the activities and keep the top priority task on top of the list. So, don't fuss about the things that will do very little difference in your life.

The course also teaches the readers on areas of application of Pareto Principle.  They are:-

  • Time Management

  • Maximizing Productivity

  • Achieving Sales Targets

  • Critical Mistake Analysis

  • Loyalty Marketing Strategy

  • Customer Relationship Management

The readers learn to classify the problems, make a list of problem categories etc.   One can also learn how to use the Pareto Chart in categorizing the data and helps to identify the problem and how to narrow down the causes of such problems. The readers also get an in-depth knowledge about the 4 phases of Pareto Analysis which are

  1. Phase I: Identification of Causes of Defects

  2. Phase II: Collection of Sample Data

  3. Phase III: Summarizing and Graphical Representation of Results

  4. Phase IV: Interpreting and Applying the Graphed Results


No prior knowledge is required for enrolling in this course.  There are 15 downloadable course materials which covers whatever you need to master in Pareto Analysis.

Are you looking to increase the efficiency in your workplace with the available resources and increase your productivity - Just enroll in this course quickly and grab the opportunity!!

What You Will Learn!

  • Brief history of Pareto Analysis.
  • Meaning of Pareto Analysis and what is 80:20 Rule.
  • How to use Pareto Principles in our day to day work life.
  • How to understanding Pareto Analysis using charts.
  • Steps for the process of Pareto Analysis.

Who Should Attend!

  • This course is good for management learners and students who want to learn about Pareto Analysis
  • Aspiring Business Analysts. Including those who are graduating from college and those that are looking for a career change.