First Ring Daily 885: Pie Chart of Fault

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• factoryoptimizr

  18 August, 2020 - 2:23 pm

  <p>Yes…there really IS a "fault pie chart." <span style="color: rgb(0, 0, 0);">It's called a Pareto chart. </span>Well…it's not really a pie chart – it's actually a bar chart. Pareto charts are commonly used in manufacturing to quickly and clearly show the biggest contributors to some category like system failures, scrap, rework, errors, costs, etc. Pareto charts help focus attention and resources on improvements that will give the biggest bang for the buck.</p><p><br></p><p>You can also use Pareto charts to show positive metrics like revenue…and, yes, I'll bet Satya Nadella has a big Pareto chart on his wall that lines up the different Microsoft divisions and their dollar contribution to revenue, from largest to smallest. It can make hard decisions about where to cut in lean times a bit easier, and supports decisions about where to spend in good times.</p><p><br></p><p>https://en.wikipedia.org/wiki/Pareto_chart</p&gt;

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• Paul Thurrott

  Premium Member

  19 August, 2020 - 8:47 am

  lol nice

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• brettscoast

  Premium Member

  18 August, 2020 - 11:48 pm

  <p>Paul &amp; Brad both in fine form again. :)</p>

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