The Law of the Vital Few

The Law of the Vital Few, also known as Pareto's Principle, states that a small portion of causes or inputs typically accounts for a large share of results or effects. For example, roughly 80% of a company's sales often come from just 20% of its customers. This principle helps prioritize efforts by focusing on the most impactful factors, rather than spreading resources evenly. It's a valuable tool in management, quality control, and problem-solving, emphasizing that identifying and addressing the critical few can lead to significant improvements and efficiencies.