Many of you may already be familiar with the “80/20 Rule,” formally known as the Pareto Principle. Officially, the Pareto Principle states that approximately 80 percent of the outcomes result from 20 percent of the inputs. For example, 80 percent of a company’s sales come from 20 percent of its sales force. Many have found that the application of the Pareto Principle can be used to effectively audit, assess or implement processes and procedures to profitably manage the technology-oriented enterprise.
Consider the breadth of subjects to which the 80/20 Rule might be applied in a business centered upon the development, sale, or implementation of technology: