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Pareto analysis is a statistical technique in decision making used for selection of a limited of number of tasks that produce significant overall effect. It uses the Pareto principle - the idea that by doing 20% of work you can generate 80% of the advantage of doing the entire job.

Pareto analysis is a formal technique useful where many possible courses of action are competing for your attention. Basically, it consists in estamating of a benefit delivered by each action with subsequent selection of a number of the most effective actions that deliver the total benefit reasonably close to the maximal possible one.

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Topics: Pareto Analysis, Pareto Index, Pareto Principle, Pareto...

Pareto indexIn economics the Pareto index is a measure of the breadth of income distribution. It is named after the Italian economist and sociologist Vilfredo Pareto. See also Gini coefficient.	Pareto principleThe Pareto principle (also known as the 80-20 Rule the law of the vital few and the principle of factor sparsity states that for many phenomena 80% of consequences stem from 20% of the causes. Moreover, among those "top 20" it is also the case that 80% of	Pareto efficiencyPareto efficiency or Pareto optimality is a central concept in game theory with broad applications in economics, engineering and the social sciences. A change that can make at least one individual better off, without making any other individual worse off
Pareto distributionThe Pareto distribution named after the Italian economist Vilfredo Pareto is a power law distribution found in a large number of real-world situations. This distribution is also known, mostly outside economics, as the Bradford distribution''. If X is a ra	Pareto interpolationPareto interpolation is a nonlinear method of interpolation to find the median of a set of data. It is used in economics when analysing income figures. It assumes that the data fits a curve known as the Pareto distribution. The median is given by : where	Pareto analysisPareto analysis is a statistical technique in decision making used for selection of a limited of number of tasks that produce significant overall effect. It uses the Pareto principle the idea that by doing 20% of work you can generate 80% of the advantage

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