Graphical Analysis: Pareto and time chart

Graphic analysis is "the method of analysis that performs the graph by taking data from data tables." We learn from interpreting data about the nature of the process and where the sources of variation come from.

The Pareto Chart, also called the 80/20 rule, which specifies an unequal relationship between effort and effect, helps us to prioritize actions. It was named after the Italian economist Vilfredo Pareto, who observed that 80% of Venice's wealth was owned by only 20% of the population. Today the percentages probably differ 😊.

The Pareto diagram describes a statistical phenomenon according to which a small number of high values ​​contributes more to the total than a large number of low values. We use Pareto to identify the most influential factors and to get maximum benefits with the available resources.

A Pareto chart is a bar graph in which the most common activities are placed in descending order from left to right.

The horizontal axis represents the types of activities (defects, problems or causes of problems) while the vertical axis represents the frequencies of those activities, and the height of the bars normally reflects the number of occurrences for each.

The Time Series Plot shows the data recorded chronologically and shows the changes undergone by processes over time as a consequence of changing variables.

So Time Series Plot is a graph in which the x-axis is always time and is used to analyze the evolution of processes and even to make predictions.

Time diagrams are useful for visualizing outliers (extreme values), observing changes at various stages, analyzing process trends - including patterns or cyclicities.

In addition to the purpose of prevention, used mainly in control charts (Control Charts) - a particular case of time charts, one of the purposes is to make predictions about the behavior and evolution of variables in the future.