In the complex modern business environment, it can be challenging to know what to prioritize.
Where should you focus your limited time and resources?
The Pareto principle can be extremely helpful for identifying the important areas that require the most attention!
The Pareto principle states that about 80% of effects or outcomes derive from 20% of causes or inputs. This so-called 80-20 rule can help identify and prioritize what is important to focus on to improve efficiency and get results.
Take this course to see why the Pareto principle is useful in business and learn how to analyze data with a Pareto chart in order to aid decision making and problem solving in marketing, sales strategies, and more!