Do Paretos REALLY work?

Posted on 3 Nov 2008 by The Manufacturer

A Pareto chart can help you determine what comprises the “vital few” and which are the “trivial many". Rob Thompson provides an overview on how to use this tool

The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity), states that 80% of the impact is generated by 20% of the causes or actions. This is clearly a very powerful rule, and it does apply to most aspects of life. > In work,…

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