Pareto principle

Summary

The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few").

Highlights

The Pareto principle applies to raising funds: 20% of the donors contribute 80% of the total ([View Highlight] (https://read.readwise.io/read/01jbfycp6k1zhf6w83117dr25m))

The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few") ([View Highlight] (https://read.readwise.io/read/01jbfycw4jpexe3528saq18psn))

Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity. ([View Highlight] (https://read.readwise.io/read/01jbfyczryq1nm24cj95nb2gj6))

In computer science the Pareto principle can be applied to optimization efforts. ([View Highlight] (https://read.readwise.io/read/01jbfydfwzr04c0gr1vygs4hab))

For example, Microsoft noted that by fixing the top 20% of the most-reported bugs, 80% of the related errors and crashes in a given system would be eliminated. ([View Highlight] (https://read.readwise.io/read/01jbfydn3brrxt14r1vpwfzcpb))

Lowell Arthur expressed that "20% of the code has 80% of the errors. Find them, fix them!" ([View Highlight] (https://read.readwise.io/read/01jbfydqq893ffspvmzpcrk566))

It was also discovered that, in general, 80% of a piece of software can be written in 20% of the total allocated time. Conversely, the hardest 20% of the code takes 80% of the time. This factor is usually a part of COCOMO estimating for software coding. ([View Highlight] (https://read.readwise.io/read/01jbfydvfzr60n2gx1q6p646ga))