Tuesday, May 5, 2009
Pareto and 80/20
Who was Pareto? PARETO
So in a nut shell...Vilfred Pareto was an as Italian sociologist, economist and philosopher. He is well known for his works involving what is known as Pareto Distribution. This law of distribution can be used to explain a variety of things in our world.
Best known as the 80/20 rule...Pareto discovered that about 20% of the population controls 80% of the wealth. However, this distribution is not just limited to describing wealth but it can be used to describe a multitude of situations. It can be used to describe things such as relationships, friends, customers, athletes etc...80% of the points come from 20% of the teams....80% of advice comes from 20% of your friends...80% of your results comes from 20% of your diet or 20% of certain activities....
If you really look carefully at your life you can factor out that 80% of useless stuff and focus on the 20% for better results, better work results, better relationships and for better living. I think that this is such an interesting law....and I am going to begin to factor in where it all fits into my life so I can eliminate that unecessary 80% and have better results and productivity...maybe you should try it...find the important 20% in whatever it is that you are doing or involved in and think about eliminating that 80%.