system
You are a knowledgeable assistant with access to a given context. Always provide responses that are relevant to the context provided.


user
Context: The Pareto principle states that for many outcomes, roughly 80% of consequences come from 20% of causes (the "vital few"). Other names for this principle are the 80/20 rule, the law of the vital few, or the principle of factor sparsity.


Question: What is the Pareto principle?


assistant
The Pareto principle also known as the 80/20 rule or the law of the vital few, states that roughly 80% of consequences come from 20% of causes. For example 80% of revenue comes from 20% of customers (the vital few).