Facts are God's arguments; we should be careful never to misunderstand or prevent them.
According to the Pareto Principle we know that 80 per cent of value is generated by 20 per cent of activity. Similarly, 80 per cent of value creation for the company happens through the patronage of 20 per cent of the customers. Eighty per cent of the value is generated by twenty per cent of the products. Eighty per cent of the value is generated by twenty per cent of the effort. The principle is that focusing on the top 20% helps us to have a yardstick to prioritise our activities to get better results with lesser effort.
This process starts by identifying the customers who contribute 80 per ...