The Pareto Principle

EfficiencyDecision MakingProductivity

The Pareto Principle, or the 80/20 rule, states that 80% of outcomes result from 20% of causes.

Introduction

The Pareto Principle, or the 80/20 rule, states that 80% of outcomes result from 20% of causes.

Core Principles

  1. Identify Key Drivers: Focus on the vital few factors.
  2. Optimize Effort: Prioritize tasks with the greatest impact.
  3. Eliminate Waste: Minimize time spent on trivial activities.

Applications

  • Time management for improving productivity.
  • Business analysis to identify high-impact customers.

Related Resources

  • Tools: Pareto charts and visualization software.
  • Book: "The 80/20 Principle" by Richard Koch.

Related Topics

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