The Pareto Principle, more commonly known as the “80/20” rule, is commonly referenced in both business and economic applications. Essentially, the Pareto Principle states that 80% of the output is achieved by 20% of the input. Dating back to the twentieth century, this rule of thumb has been used to explain the economics behind everything from wealth distribution to employee efficiency, car accidents to criminal activity.
Although the Pareto Principle’s roots are chiefly economic in nature, its many applications rely on observing human nature and the output of associated activities. So, what happens when you take humans out of the equation? When the devices around us, connected in an intricate Internet of Things, communicate, does the Pareto Principle still apply?
Let’s examine a few common applications of the…
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