Pareto’s Law

Pareto's Law claims that 80% of the outputs come from 20% of the inputs. Also known as the Pareto Principle, the "80/20 Rule", the "Law of the Vital Few" or the "Principle of Factor Sparsity". The idea encapsulated in Pareto's Law is that in many situations around 20% of the effort contributes around 80% of … Continue reading Pareto’s Law