Pareto Principle 80-20 Rule

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The Pareto Principle, also known as the 80-20 Rule, states that roughly 80% of effects come from 20% of causes. In business and economics, this principle suggests that a significant portion of results or outcomes are driven by a minority of factors or inputs. Understanding the Pareto Principle helps prioritize efforts, focus resources on high-impact areas, and improve efficiency and effectiveness in decision-making and resource allocation.