Want to create an interactive transcript for this episode?
Podcast: Safety on Tap
Episode: Ep098: The Pareto Principle, witH Andrew Barrett
Description: The Pareto Principle has been observed in a range of economic areas, like global individual wealth distribution I mentioned earlier, but soverign wealth, quality defects (few defect types cause majority of quality costs/rework time), innovations (where only a few members of staff will provide the majority of innovation ideas), decision making (where only a small proportion of time in a meeting results in the majority of decisions), and complaints (where only a few aspects of your services will result in the majority of your complaints). Where this gets interesting, is that it enables us to understand how to move awa...