The Pareto Principle, also known as the 80/20 rule, states that for many events, roughly 80% of the effects come from 20% of the causes. It’s a simple but powerful concept that can be applied to a wide range of scenarios — from organizing business operations to evaluating return on investment in marketing campaigns and more. Put simply, the Pareto Principle suggests that the majority of results are driven by a few key factors — those which form the “vital few” instead of the “trivial many”. As such, it provides a useful way of determining how to prioritize resources and focus efforts in order to achieve maximum output with minimum effort.