Word: pareto
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Many will never quite understand the definition of quality control--which is why it's fortunate that management trailblazer Joseph Juran devoted his life to the concept. His theories, notably the Pareto Principle, or 80-20 rule, were widely adopted by companies around the world that aimed to be more efficient. The rule, which asserts that 80% of effects arise from 20% of causes, is now applied to countless concepts, ranging from purchasing (20% of customers buy 80% of products) to management strategy (80% of production snafus stem from 20% of workers). Juran...
...latest data on Internet participation reveals that only a very small percentage of Internet activity is related to users creating and publishing content. The 80/20 rule, also known as the Pareto Principle, states that 80% of all consequences stem from 20% of the causes. If true, the rule would then suggest that 80% of this new form of content is created by 20% of the users. The rule, subject of countless business books, has no application when it comes to consumer-generated content. Far less than 1% of visits to most sites that thrive on user-created materials are attributable...
...post, which cannot be printed here verbatim because of obscenity, reads something to the effect that “it’s Pareto suboptimal to have girls wanting to be with guys, guys wanting to be with girls, and everybody just sitting by themselves...
...long tail has its intellectual roots in economic ideas that date back a century. In 1906, Italian philosopher Vilfredo Pareto noted that 80% of the property in Italy is owned by 20% of the population, a formula that, much later, became known as the 80/20 rule. It has forever influenced brand management, customer service and even personnel development. Focus your attention and resources on that top 20%, which is where the best returns on investment can be found...
Wolcowitz said he hoped the consequences of preregistration would be a pareto improvement. If nothing else he said, “I can’t guarantee that every student will be better off, but we can make many students better off.” But as we’ve outlined above, there are many other reforms that are far more effective in actually improving life at Harvard. Preregistration stands to do the opposite...