How to generate random data based upon known percentage distribution using Excel

Let us say I want to create sample data for my analytics class for a customer. I dont have access to the actual customer data. But I want the data to look familiar to the participants. I want to use the names of their products in sample data containing 1000 rows. I could use Randbetween() with Vlookup but that gives me almost equal distribution for all products. I want to make the data look realistic. I want to use the market share values of their products to generate the sample data. Here is how you do it. 3.5 minute video.

Quality Management 5: Pareto Chart

This chart is used to analyze important factors and prioritize action items. It is a combination of bar and line chart. Bar chart shows the data in descending order of importance and line chart shows cumulative percentage. It is popularly known as the 80:20 rule. We will see three ways of creating this chart using Excel.

image

Continue reading