What is the Pareto principle?
The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity.
The Pareto principle also known as the 80/20 rule or the law of the vital few, states that roughly 80% of consequences come from 20% of causes. For example 80% of revenue comes from 20% of customers (the vital few).
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
### Instruction: What is the Pareto principle?
### Input: The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity.
### Response: The Pareto principle also known as the 80/20 rule or the law of the vital few, states that roughly 80% of consequences come from 20% of causes. For example 80% of revenue comes from 20% of customers (the vital few).