What does ABC analysis mean?

ABC analysis meaning in Law Dictionary

systems analysis of things in an effort worth addressing that needs to be handled differently. This kind of Pareto analysis where relevance is listed by 'A' items have become important, 'B' products are important, 'C' items are marginally essential.

ABC analysis meaning in Business Dictionary

An analysis of a range of things that have various levels of relevance and really should be managed or managed differently. It is a type of Pareto analysis where the things (such as tasks, consumers, documents, inventory things, sales territories) are grouped into three groups (A, B, and C) trying of their estimated value. 'the' things are very important, 'B' products are very important, 'C' things tend to be marginally important. For example, the most effective consumers whom give greatest revenue are given the 'A' rating, usually are serviced because of the product sales supervisor, and receive many interest. 'B' and 'C' customers warrant increasingly less interest and so are serviced consequently.