Definition :
The pareto Principle, named after economist vilfredo pareto, specifies that 80 % of consequences come from 20 % of the causes, or an unequal relationship between inputs and outputs. This principle is a general reminder that the connection between inputs and outputs isn’t balanced. The pareto Principle is additionally called the Pareto Rule or the 80/20 Rule.
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Further Reading:
Lean Agile Software Development by Alan Salloway, Guy Beaver and James R. Trott.