The 80/20 Rule or the Pareto Principle is named after Italian economist Vilfredo Pareto. It originated from a formula Pareto came up with, back in 1906 to explain that 80% of the wealth in his nation belonged to 20% of the population. Simply stated it elucidates the uneven distribution between cause and effect. It explains how the majority of the output is a result of a … [Read more...]