“In the late 19th century, an Italian economist named Vilfredo Pareto noticed something unusual: Roughly 20 per cent of the peapods in his garden produced nearly 80 per cent of the peas. Not exactly front page news, and yet Pareto’s observation would provide the foundation for a powerful concept that has been widely embraced by business leaders.
(Not bad for a guy who had enough time on his hands to calculate the efficiency of his peapods.)
These days, the 80-20 Rule, also known as the Pareto Principle, is commonly used in the business world as a way for leaders to identify and maximize what actions, employees, products, and customers provide the greatest value. Those who apply the 80-20 Rule to their business claim they can dramatically increase their productivity, profits, and even their free time.”
Infographic courtesy of: Salesforce
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