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Pareto principle

Index Pareto principle

The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. [1]

64 relations: Agent-based social simulation, Baseball, Benford's law, Broken windows theory, COCOMO, Computer science, Contact tracing, Decentralised system, Derek J. de Solla Price, Diminishing returns, Dunedin Multidisciplinary Health and Development Study, Economist, Elephant flow, Epidemic, Frisking, Gini coefficient, Hoover index, Income distribution, Income inequality metrics, Joseph M. Juran, Joshua M. Epstein, Keystone species, Load testing, Logistics, Long tail, Management consulting, Mathematical economics, Megadiverse countries, Microsoft, MIT Press, Ninety-ninety rule, Normal distribution, Occupational safety and health, Pareto chart, Pareto distribution, Pareto efficiency, Pareto index, Pareto priority index, Parkinson's law, Power law, Principle of least effort, Profit risk, Program optimization, Rank-size distribution, Richard Koch, Robert Axtell, Six Sigma, Sturgeon's law, Sugarscape, Super-spreader, ..., The Black Swan: The Impact of the Highly Improbable, The Guardian, The New York Times, Theil index, Total quality management, University of Lausanne, Vilfredo Pareto, Vitality curve, Wealth concentration, Wildfire, Wins Above Replacement, Zipf's law, 1% rule (Internet culture), 10/90 gap. Expand index (14 more) »

Agent-based social simulation

Agent-based social simulation (or ABSS) consists of social simulations that are based on agent-based modeling, and implemented using artificial agent technologies.

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Baseball

Baseball is a bat-and-ball game played between two opposing teams who take turns batting and fielding.

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Benford's law

Benford's law, also called Newcomb-Benford's law, law of anomalous numbers, and first-digit law, is an observation about the frequency distribution of leading digits in many real-life sets of numerical data.

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Broken windows theory

The broken windows theory is a criminological theory that visible signs of crime, anti-social behavior and civil disorder create an urban environment that encourages further crime and disorder, including serious crimes.

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COCOMO

The Constructive Cost Model (COCOMO) is a procedural software cost estimation model developed by Barry W. Boehm.

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Computer science

Computer science deals with the theoretical foundations of information and computation, together with practical techniques for the implementation and application of these foundations.

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Contact tracing

In epidemiology, contact tracing is the identification and diagnosis of people who may have come into contact with an infected person.

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Decentralised system

A decentralised system in systems theory is a system in which lower level components operate on local information to accomplish global goals.

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Derek J. de Solla Price

Derek John de Solla Price (22 January 1922 – 3 September 1983) was a physicist, historian of science, and information scientist, credited as the father of scientometrics.

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Diminishing returns

In economics, diminishing returns is the decrease in the marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, while the amounts of all other factors of production stay constant.

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Dunedin Multidisciplinary Health and Development Study

The Dunedin Multidisciplinary Health and Development Study (often referred to as the Dunedin Longitudinal Study) is a long-running cohort study of 1037 people born between 1 April 1972 and 31 March 1973 in Dunedin, New Zealand.

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Economist

An economist is a practitioner in the social science discipline of economics.

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Elephant flow

In computer networking, an elephant flow is an extremely large (in total bytes) continuous flow set up by a TCP (or other protocol) flow measured over a network link.

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Epidemic

An epidemic (from Greek ἐπί epi "upon or above" and δῆμος demos "people") is the rapid spread of infectious disease to a large number of people in a given population within a short period of time, usually two weeks or less.

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Frisking

Frisking (also called a patdown or pat down) is a search of a person's outer clothing wherein a person runs his or her hands along the outer garments to detect any concealed weapons.

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Gini coefficient

In economics, the Gini coefficient (sometimes expressed as a Gini ratio or a normalized Gini index) is a measure of statistical dispersion intended to represent the income or wealth distribution of a nation's residents, and is the most commonly used measurement of inequality.

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Hoover index

The Hoover index, also known as the Robin Hood index, but better known as the Schutz index, is a measure of income metrics.

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Income distribution

In economics, income distribution is how a nation’s total GDP is distributed amongst its population.

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Income inequality metrics

Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.

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Joseph M. Juran

Joseph Moses Juran (December 24, 1904 – February 28, 2008) was a Romanian-born American engineer and management consultant.

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Joshua M. Epstein

Joshua M. Epstein is Professor of Epidemiology at the New York University College of Global Public Health.

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Keystone species

A keystone species is a species that has a disproportionately large effect on its environment relative to its abundance.

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Load testing

Load testing is the process of putting demand on a system and measuring its response.

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Logistics

Logistics is generally the detailed organization and implementation of a complex operation.

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Long tail

In statistics and business, a long tail of some distributions of numbers is the portion of the distribution having a large number of occurrences far from the "head" or central part of the distribution.

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Management consulting

Management consulting is the practice of helping organizations to improve their performance, operating primarily through the analysis of existing organizational problems and the development of plans for improvement.

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Mathematical economics

Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.

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Megadiverse countries

The term megadiverse country refers to any one of a group of nations that harbour the majority of Earth's species and high numbers of endemic species.

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Microsoft

Microsoft Corporation (abbreviated as MS) is an American multinational technology company with headquarters in Redmond, Washington.

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MIT Press

The MIT Press is a university press affiliated with the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts (United States).

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Ninety-ninety rule

In computer programming and software engineering, the ninety-ninety rule is a humorous aphorism that states: This adds up to 180%, in a wry allusion to the notoriety of software development projects significantly over-running their schedules (see software development effort estimation).

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Normal distribution

In probability theory, the normal (or Gaussian or Gauss or Laplace–Gauss) distribution is a very common continuous probability distribution.

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Occupational safety and health

Occupational safety and health (OSH), also commonly referred to as occupational health and safety (OHS), occupational health, or workplace health and safety (WHS), is a multidisciplinary field concerned with the safety, health, and welfare of people at work.

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Pareto chart

A Pareto chart, named after Vilfredo Pareto, is a type of chart that contains both bars and a line graph, where individual values are represented in descending order by bars, and the cumulative total is represented by the line.

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Pareto distribution

No description.

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Pareto efficiency

Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

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Pareto index

In economics the Pareto index, named after the Italian economist and sociologist Vilfredo Pareto, is a measure of the breadth of income or wealth distribution.

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Pareto priority index

The Pareto priority index (PPI), so named because of its connection with the Pareto principle, which is in turn named after the economist Vilfredo Pareto, can be used to prioritize several (quality improvement) projects.

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Parkinson's law

Parkinson's law is the adage that "work expands so as to fill the time available for its completion".

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Power law

In statistics, a power law is a functional relationship between two quantities, where a relative change in one quantity results in a proportional relative change in the other quantity, independent of the initial size of those quantities: one quantity varies as a power of another.

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Principle of least effort

The principle of least effort is a broad theory that covers diverse fields from evolutionary biology to webpage design.

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Profit risk

Profit risk is a risk management tool that focuses on understanding concentrations within the income statement and assessing the risk associated with those concentrations from a net income perspective.

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Program optimization

In computer science, program optimization or software optimization is the process of modifying a software system to make some aspect of it work more efficiently or use fewer resources.

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Rank-size distribution

Rank-size distribution is the distribution of size by rank, in decreasing order of size.

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Richard Koch

Richard John Koch (born 28 July 1950 in London) is a British author, speaker, investor, former management consultant, and entrepreneur.

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Robert Axtell

Robert Axtell is a Professor at George Mason University, Krasnow Institute for Advanced Study, where he is Departmental Chair of the Department of Computational Social Science.

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Six Sigma

Six Sigma (6σ) is a set of techniques and tools for process improvement.

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Sturgeon's law

Sturgeon's revelation (as originally expounded by Theodore Sturgeon), commonly referred to as Sturgeon's law, is an adage commonly cited as "ninety percent of everything is crap".

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Sugarscape

Sugarscape is a model for artificially intelligent agent-based social simulation following some or all rules presented by Joshua M. Epstein & Robert Axtell in their book Growing Artificial Societies.

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Super-spreader

A super-spreader is a host—an organism infected with a disease—that infects, disproportionally, more secondary contacts than other hosts who are, also, infected with the same disease.

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The Black Swan: The Impact of the Highly Improbable

The Black Swan: The Impact of the Highly Improbable is a book by the essayist, scholar, philosopher, and statistician Nassim Nicholas Taleb, released April 17, 2007 by Random House.

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The Guardian

The Guardian is a British daily newspaper.

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The New York Times

The New York Times (sometimes abbreviated as The NYT or The Times) is an American newspaper based in New York City with worldwide influence and readership.

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Theil index

The Theil index is a statistic primarily used to measure economic inequality and other economic phenomena, though it has also been used to measure racial segregation.

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Total quality management

Total quality management (TQM) consists of organization-wide efforts to install and make a permanent climate in which an organization continuously improves its ability to deliver high-quality products and services to customers.

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University of Lausanne

The University of Lausanne (UNIL, French: Université de Lausanne) in Lausanne, Switzerland was founded in 1537 as a school of theology, before being made a university in 1890.

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Vilfredo Pareto

Vilfredo Federico Damaso Pareto (born Wilfried Fritz Pareto, 15 July 1848 – 19 August 1923) was an Italian engineer, sociologist, economist, political scientist, and philosopher, now also known for the 80/20 rule, named after him as the Pareto principle.

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Vitality curve

A vitality curve is a performance management practice that calls for individuals to be ranked or rated against their coworkers.

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Wealth concentration

Wealth concentration is a process by which created wealth, under some conditions, can become concentrated by individuals or entities.

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Wildfire

A wildfire or wildland fire is a fire in an area of combustible vegetation that occurs in the countryside or rural area.

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Wins Above Replacement

Wins Above Replacement or Wins Above Replacement Player, commonly abbreviated to WAR or WARP, is a non-standardized sabermetric baseball statistic developed to sum up "a player's total contributions to his team".

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Zipf's law

Zipf's law is an empirical law formulated using mathematical statistics that refers to the fact that many types of data studied in the physical and social sciences can be approximated with a Zipfian distribution, one of a family of related discrete power law probability distributions.

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1% rule (Internet culture)

In Internet culture, the 1% rule is a rule of thumb pertaining to participation in an internet community, stating that only 1% of the users of a website actively create new content, while the other 99% of the participants only lurk.

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10/90 gap

The 10/90 gap is the term adopted by the Global Forum for Health Research to highlight the finding by the Commission on Health Research for Development in 1990, that less than 10% of worldwide resources devoted to health research were put towards health in Developing Countries, where over 90% of all preventable deaths worldwide occurred.

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References

[1] https://en.wikipedia.org/wiki/Pareto_principle

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