Vilfredo Pareto was an economist who is credited with establishing what is now widely known as the Pareto Principle or 80/20 rule. When he discovered the principle, it established that 80% of the land in Italy was owned by 20% of the population. Later, he discovered that the pareto principle was valid in other parts of his life, such as gardening: 80% of his garden peas were produced by 20% of the peapods. Some Sample 80/20 Rule Applications :
- 80% of process defects arise from 20% of the process issues.
- 20% of your sales force produces 80% of your company revenues.
- 80% of delays in schedule arise from 20% of the possible causes of the delays.
- 80% of customer complaints arise from 20% of your products or services.
(The above examples are rough estimates.)
So, it is possible to solve 20% cause of 80% of all your problems in life. Isn't it? Well, it's worth to try, but what are those 20%, ya?
Tommorow, 20 July, sixty years ago, a group of German Army officers conspired to assassinate 