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Pareto Principle: The 80/20 Rule

SUPPORT our mission to bring engaging video lessons into classrooms!👩🏽‍🎓👨🏻‍🎓:   / sprouts   The Pareto Principle, also known as the 80/20 rule, states that often 20% of the causes create around 80% of the outcomes while the remaining causes are responsible for the rest. Discovered by the Italian economist Vilfredo Pareto, the principle became a valuable rule of thumb that allows our mind to understand all sorts of complex distributions, focus on the essentials, and prioritize what to do next. FOLLOW us on instagram 📸:   / sprouts.schools   Check out Sprouts Channels in other languages: Spanish 🇪🇸:    / @sproutsespañol   German 🇩🇪:    / @sproutsdeutschland   Thai 🇹🇭:    / @sproutsthailand   Chinese 🇨🇳:    / @sproutschinese   Turkish 🇹🇷:    / @sproutstürkiye   Russian 🇷🇺:    / @sproutsrussia   Romanian 🇷🇴:    / @sproutsromania   Farsi 🇮🇷:    / @sproutsfarsi   French 🇫🇷:    / @sproutsenfrancais   Italian 🇮🇹:    / @sproutsitalia   Esperanto 🏴:    / @sproutsesperanto   Portuguese 🇵🇹:    / @sproutsportugues   Korean 🇰🇷:    / @sproutskorea   Indonesian 🇮🇩:    / @sproutsindonesia   DOWNLOAD video without ads and background music 🤫: https://sproutsschools.com/video-less... SIGN UP to our mailing list and never miss a new video from us 🔔: http://eepurl.com/dNU4BQ SOURCES and teaching resources 🎓: https://sproutsschools.com/pareto-pri... VISIT our website 🌐: http://www.sproutsschools.com CONTRIBUTE by upvoting your favorite topic or suggesting new ones 🔊: https://sprouts.featureupvote.com/ JOIN us on discord 🤖:   / discord   THANKS to our patrons This video was made with the support of our Patrons: Adam Berry, Alfred Holzheu, Anil Raut, ArkiTechy, Artur, azad bel, Badrah, Bradley Klimovitch, Cedric.Wang, Christoph Becker, cnotv, Cory McAbee, David Markham, Delandric Webb, Digital INnov8ors, Dr. Matthias Müller-Mellin, Duane Bemister, Elias Reuss, Eva Marie Koblin, F J V Souza Fh, Gerardo Enrique Nieto, Heart of Texas Play Therapy, LLC, Izzy, jakob steensig, Jeffrey Cassianna, Jim Pilgrim, Joanne Doyle, jun omar ebdane, Leonel, Liam Dalling, Linda Kinkead, Linus Linderoth, Lucia Simone Winston, M. Allen, Mambo no 9, Marcel, María, martin, Martin Streule, Martina Hrebenarova, Mathis Nu, Mezes.Macko, Michael Paradis, Natalie O’Brien, Okan Elibol, Oweeda Newton, Peihui, Povilas Ambrasas, Raymond Fujioka, SAMAR ABDULKADER DAKAK BADAWI, scripz, Sigrid, Solongo Ganbat, Stefan Gros, Suppasit Srisaeng, Taka Kondo, Takashi HIROSE, Tammy Frazier, Thomas Aschan, Yassine Hamza, Yvonne Clapham and all the others.Thank you! To join them visit www.patreon.com/sprouts COLLABORATORS Script: Ludovico Saint Amour di Chanaz and Jonas Koblin Artist: Pascal Gaggelli Voice: Matt Abbott Coloring: Nalin Editing: Peera Lertsukittipongsa Production: Selina Bador Sound Design: Miguel Ojeda SOUNDTRACKS A Toy’s Day Out - Shuan Frearson DIG DEEPER with these top videos, games and resources: Read about how the Pareto Principles relates to a Gaussian Normal Distribution https://www.sciencedirect.com/science... Explore a thesis on the problematics of the Pareto Principle https://papers.ssrn.com/sol3/papers.c... Read how the principle is used in hospitals as a Quality Improvement Tool https://www.ncbi.nlm.nih.gov/pmc/arti... SOURCES https://en.wikipedia.org/wiki/Pareto_... https://en.wikipedia.org/wiki/Pareto_... https://en.wikipedia.org/wiki/Vilfred... https://www.ncbi.nlm.nih.gov/pmc/arti... Classroom Activity Visit our website to get access to recommend activity for the classroom on this topic! CHAPTERS 00:00 The 80/20 Rule 00:25 Pareto Principle 00:57 Business Insights 01:09 Real life example 01:33 Pareto’s warning 02:07 What do you think? 02:26 Ending 02:40 Patrons credits #sproutsschools #paretoprinciple #mathematics #history #education