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Posts Tagged ‘chris_anderson’

The Internet Marketing Long Tail Bashes the “80:20” Pareto Principle

Wired editor-in-chief Chris Anderson (also the editor of “The Long Tail: Why The Future of Business Is Selling Less of More”) was in Singapore last week for the Media Leaders Series and his Long Tail theory has put paid to Vilfredo Pareto’s 80:20 rule.

An except from the Long Tail reveals how pervasive the Long Tail is, and how it put the 80:20 rule on its head.

Meeting Ecast CEO Robbie Vann-Adib, Anderson is asked what percent of the top selling 10,000 digital music tracks are sold or rented at least once a month.

According to Pareto’s original principle, 20% of Italy’s population controls 80% of it’s wealth.

In today’s context, 80% of car accidents might be caused by 20% of car drivers. 80% of a computer’s resources might be used by 20% of the applications, 80% if your online income might come from 20% of your efforts.

So the Pareto principle should relate to (more…)