Maximize Your Ecommerce Success with the 80/20 Rule: Strategies for Optimization and Efficiency
The 80/20 rule, also known as the Pareto Principle, is a concept in economics stating that 80% of the effects come from 20% of the causes. This means that roughly 80% of the outcomes in a particular system or process can be attributed to 20% of the inputs or factors. The principle is named after Italian economist Vilfredo Pareto, who first described the phenomenon in the late 19th century. The 80/20 rule can be applied to various areas, including business, finance, and management, to help identify the most important factors contributing to a particular result.
