Pareto Chart in Tableau | The Pareto Rule | Tech Thursday #2

#Tableau #Pareto #Data 🟨 Społeczność analityków: https://kajodata.com/space/ 🟦 Kursy - Excel, SQL, PowerBI, Python: https://kajodata.com/kursy/ 🟥 Zapisz się na newsletter i zyskaj DARMOWE BONUSY: https://kajodata.com/newsletter/ Learn how to re-create Pareto Rule in your Tableau Dashboard - create your own Pareto chart. Will use the example of Olympics data. 00:00 What is pareto rule 02:48 How to create pareto in Tableau 11:26 Download the dashboard from Tableau Public 👉 The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes. Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity. 👉 Management consultant Joseph M. Juran developed the concept in the context of quality control, and improvement, naming it after Italian economist Vilfredo Pareto, who noted the 80/20 connection while at the University of Lausanne in 1896. In his first work, Cours d'économie politique, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population. The Pareto principle is only tangentially related to Pareto efficiency. 👉 Mathematically, the 80/20 rule is roughly described by a power law distribution (also known as a Pareto distribution) for a particular set of parameters, and many natural phenomena have been shown to exhibit such a distribution. It is an adage of business management that "80% of sales come from 20% of clients". I'd love to meet you at LinkedIn:   / kajorudzinski   Consider checking out my blog: https://kajodata.com/