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Decision Model: 80/20 Rule
Principle: "Work smarter". There’s a lot of data and factors out there relating to your problem, and a lot of analyses you could do. Ignore most of them. Focus on the most important ones — the key drivers.
Situation: 80 per cent of sales will come from 20 per cent of your sales force; 20 per cent of a job will take up 80 per cent of the time; 20 per cent of the population controls 80 per cent of the wealth.
Note: It doesn’t always work (sometimes the bread falls butter-side up). Not to forget, numbers "80" and "20" just represent "big" and "small" analogy!
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By HarshitPrinciple: "Work smarter". There’s a lot of data and factors out there relating to your problem, and a lot of analyses you could do. Ignore most of them. Focus on the most important ones — the key drivers.
Situation: 80 per cent of sales will come from 20 per cent of your sales force; 20 per cent of a job will take up 80 per cent of the time; 20 per cent of the population controls 80 per cent of the wealth.
Note: It doesn’t always work (sometimes the bread falls butter-side up). Not to forget, numbers "80" and "20" just represent "big" and "small" analogy!