80/20

I just want to take a second to remind everyone exactly what the 80/20 rule is. It must have been a banner week or something, cause I've heard WAY to many people confidently getting it wrong.

It does not mean, "if you get it 80% the other 20% doesn't matter". Nor does it mean that, "the last 20% of a project can take up to 80% of the time" (what does that even mean?).

From our dear friend wikipedia The Pareto Principle or the 80/20 rule, states that, for many events, 80% of the effects come from 20% of the causes. Joseph M Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed that 80% of income in Italy went to 20% of the population.

Or, 80% of your sales are likely to come from 20% of your customers...got it?

Comments

[kipbot]

I love your noble, but ultimately futile, passion for keeping language close to its meaning and power. I think you need a kindle to stoke it even further.

http://www.kipbot.com/blog/2008/05/25/things-learned-and-confirmed-from-kindle-nownow/