12/08/2013
PARETO ANALYSIS (a great tool in/for HR & Leadership)
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As a thumb rule, 80% of the times we do 20% of the things or 20% of the times we produce 80% of results.
When I looked at my wardrobe I saw that indeed I wore 20% of my dresses 80% of times and in peer pressure or when I had deadlines I finished 80% of my work in 20% of the time.
Many thanks to Preimji for teaching me this great theory although I didn't like it at first. Now I realize how much time I wasted doing unnecessary things 80% of the time. For the first time I even donated some of my clothes to the destitute. It felt bad to lose them but then I prefer to be practical now. Hope this theory helps you too.
More info: http://en.wikipedia.org/wiki/Pareto_analysis
Pareto analysis is a statistical technique in decision making that is used for selection of a limited number of tasks that produce significant overall effect. It uses the Pareto principle – the idea that by doing 20% of work, 80% of the advantage of doing the entire job can be generated. Or in terms...
