Definition
Vilfredo Pareto was an influential Italian economist, sociologist, and philosopher who is famous for the Pareto principle or the 80/20 rule. This principle states that approximately 80% of effects come from 20% of causes, demonstrating an unequal relationship between inputs and outputs. Think of it as identifying the most powerful levers in any system. Itโs like finding the secret recipe ingredient ๐งโ๐ณ that makes all the difference.