Definitions for pareto principle
pare·to prin·ci·ple

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1. Pareto principlenoun

   the principle that describes the phenomenon wherein a small percentage of a population accounts for a large proportion of a particular characteristic of that population e.g. that a small proportion of users account for a large proportion of the edits to a Wiki

2. Etymology: from Vilfredo Pareto, Italian economist

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1. Pareto principle

   The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes. Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; he developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas. It is a common rule of thumb in business; e.g., "80% of your sales come from 20% of your clients". Mathematically, where something is shared among a sufficiently large set of participants, there must be a number k between 50 and 100 such that "k% is taken by % of the participants. The number k may vary from 50 to nearly 100. There is nothing special about the number 80% mathematically, but many real systems have k somewhere around this region of intermediate imbalance in distribution. The Pareto principle is only tangentially related to Pareto efficiency, which was also introduced by the same economist. Pareto developed both concepts in the context of the distribution of income and wealth among the population.

How to pronounce pareto principle?

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How to say pareto principle in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of pareto principle in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of pareto principle in Pythagorean Numerology is: 6

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Pareto_Principle
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=pareto principle