The 80 / 20 Rule.

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einsign

Original Poster:

5,495 posts

247 months

Friday 1st March 2013
quotequote all
In business it is a common analogy used for ~ 20% of your business (ie customers or products) being responsible for ~ 80% of the profit made.

Could a similar statistic be applied to voting, humans in general eg, winners/losers and even crime statistics?

This means we will always be buggered because more stupid people are allowed to vote than the minority who actually know what they are talking about?

einsign

Original Poster:

5,495 posts

247 months

Sunday 3rd March 2013
quotequote all
collateral said:
I don't think the hypothesis works - what if that 20% of your customers are paying too much? That probably makes them the dumb ones...
It does work, it tends to be a common mistake that business owners concentrate a lot of effort on the least profitable areas, hence the analogy. Also good customers tend to put more business your way, it has nothing to do with them paying more.

einsign

Original Poster:

5,495 posts

247 months

Sunday 3rd March 2013
quotequote all
Terminator X said:
20% of the office carpet takes 80% of the wear yes carpet tiles are the future.

TX.
Especially around the directors chair! wink