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
- Identify Key Drivers: Focus on the vital few factors.
- Optimize Effort: Prioritize tasks with the greatest impact.
- 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.