Episode 36 - Pareto's Principle, or the 80/20 Rule for Business and Marketing

There are some things in life that are simply unavoidable. They happen, patterns, behaviours, whatever it might be. But in 1906, Pareto started to obsess over the 80/20 rule when he realised that around 80% of all the land in Italy was owned by 20% of the population. After that, he started to look for the 80/20 rule in everything, and sure enough, he found examples, in nature and socio-economic practices around him. Fast forward to today, and the 80/20 rule is prominent in business, and in ou...