Pareto Principle: The 80/20 Rule

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The Pareto Principle, also known as the 80/20 rule, states that often 20% of the causes create around 80% of the outcomes while the remaining causes are responsible for the rest. Discovered by the Italian economist Vilfredo Pareto, the principle became a valuable rule of thumb that allows our mind to understand all sorts of complex distributions, focus on the essentials, and prioritize what to do next.

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COLLABORATORS
Script: Ludovico Saint Amour di Chanaz and Jonas Koblin
Artist: Pascal Gaggelli
Voice: Matt Abbott
Coloring: Nalin
Editing: Peera Lertsukittipongsa
Production: Selina Bador
Sound Design: Miguel Ojeda

SOUNDTRACKS
A Toy’s Day Out - Shuan Frearson

DIG DEEPER with these top videos, games and resources:
Read about how the Pareto Principles relates to a Gaussian Normal Distribution
https://www.sciencedirect.com/science/article/abs/pii/S0378437118308872#preview-section-abstract

Explore a thesis on the problematics of the Pareto Principle
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=384142

Read how the principle is used in hospitals as a Quality Improvement Tool
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10228985/

SOURCES
https://en.wikipedia.org/wiki/Pareto_principle
https://en.wikipedia.org/wiki/Pareto_distribution
https://en.wikipedia.org/wiki/Vilfredo_Pareto
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10228985/

Classroom Activity
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CHAPTERS
00:00 The 80/20 Rule
00:25 Pareto Principle
00:57 Business Insights
01:09 Real life example
01:33 Pareto’s warning
02:07 What do you think?
02:26 Ending
02:40 Patrons credits

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