Nectar Of Wisdom

Pareto Analysis is a statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It uses the Pareto Principle (also known as the 80/20 rule). The idea is that by doing 20% of the work you can generate 80% benefit out of the entire job. In any given task, job, report, project, situation etc. 5% or less is vital task and the rest 95% is not very significant. Many a times, it so happens that we are hooked to that 95% of tasks wasting our energy, time and resources. The 5% tasks which are more significant are often overlooked.

For example, in accountancy; less than 5% items in the financial statement are vital which needs your attention. If we talk about production, less than 5% machines are most critical which are critical for whole process. In case of marketing, less than 5% customers are most important who can give your maximum business. In other words, this principle is applicable in almost all type of situations.

5 tips to focus on Essentials:

1. Find out maximum 3 vital areas which are critical for achieving your goal.
2. Focused and priority efforts in essential areas will give much better results as compared to non-significant areas.
3. Develop skills and talent to manage those areas.
4. Focusing on vital areas will increase your efficiency as well as effectiveness.
5. Vital areas may change from time to time and according to the circumstances.

दोहा by अविनाश बागड़े
बुद्धि और चातुर्य को, रखिये ऐसे थाम।
साधन कम से कम लगे, अधिकाधिक परिणाम।।

For Hindi Blog:

Share on Whatsapp

    Etiam magna arcu, ullamcorper ut pulvinar et, ornare sit amet ligula. Aliquam vitae bibendum lorem. Cras id dui lectus. Pellentesque nec felis tristique urna lacinia sollicitudin ac ac ex. Maecenas mattis faucibus condimentum. Curabitur imperdiet felis at est posuere bibendum. Sed quis nulla tellus.


    63739 street lorem ipsum City, Country


    +12 (0) 345 678 9


    Nectar Of Wisdom