- The Pareto Principle – The 80/20 Rule to You and Me
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Wednesday, 4th November 2009
The Pareto principle (also known as the 80/20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes.
Tags: 80 20, Asides, Business, factor sparsity, Italy, law of the vital few, law relationship, Pareto principle, Power law, principle, principle of factor sparsity, rule, vital few, Welfare economics
- Occam's Razor
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Tuesday, 21st November 2006
Occam’s Razor (also spelled Ockham’s razor) is a principle attributed to the 14th-century English logician and Franciscan friar William of Ockham. Occam’s razor states that the explanation of any phenomenon should make as few assumptions as possible. The principle is often expressed in Latin as the lex parsimoniae (law of succinctness).
Tags: Applications, assumotion, Code, Design, few assumptions, Frameworks, law of succinctness, lex parsimoniae, logician, methodology, occam, ockham, okham, phenomenon, principle, razor, simple, simplest, solution, William of Ockham