In their words:
"Life isn't fair. Most things in life are not distributed evenly. The majority of results come from a minority of inputs.
In 1906 Vilfred Pareto, an Italian sociologist and economist, noticed that 80% of Italy's wealth was owned by 20% of the population and the rest 80% of inhabitants shared the remaining 20% of resources. The Pareto principle (also known as the 80:20 rule) became an economical equation that reflects the uneven distribution of the global wealth. In 1937, Joseph M. Juran conceptualized the 80:20 principle and extended it to the rule of "the vital" few and the "trivial many", claiming that 80% of the effects comes from 20% of the causes. Its universal application makes it one of the most useful concepts and tools of modern-day management.
It can mean all of the following things:
20% of the input creates 80% of the outcome
20% of the workers produce 80% of the result
20% of the features cause 80% of the usage
20% of the faults cause 80% of the breakdowns"
We had a chance to take photos of this work in Vilnius '09 art exhibition. Enjoy!