![Pareto Principle- Definition and many more? pareto-principle](https://credenceturbine.com/wp-content/uploads/2021/10/pareto-principle.jpg)
Pareto Principle- Definition and many more?
What is Pareto Principle? The Pareto principle is also referred to as the 80/20 rule. It asserts that in any given scenario, 80% of the outcomes are the result of 20% of the causes. The principal was named after Vilfredo Pareto, an Italian professional economist who observed that 20% of the population was responsible for…