1) What is Pareto's Law? Sum it up in a paragraph.
Pareto's law is known as the 80-20 rule. This was started for example 80% effects comes from the 20% of cause. Business-management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who observed in 1906 that 80% of the land in Italy was owned by 20% of the population; Pareto developed the principle by observing that 20% of the pea pods in his garden contained 80% of the peas.
2) What other industries or examples can you apply the 80/20 rule to?
The 80-20 rule can be used in many industries, for example it is used in business
- 80% of a company's profits come from 20% of its customers
- 80% of a company's complaints come from 20% of its customers
- 80% of a company's profits come from 20% of the time its staff spend
- 80% of a company's sales come from 20% of its products
- 80% of a company's sales are made by 20% of its sales staff
3) List three arguments in FAVOUR of Pareto's Law applying to the internet:
- twitter owns vines
- Google owns blogger
- Google owns youtube
4) List three arguments AGAINST Pareto's Law applying to the internet:
- twitter don't own the tweets
- blogger doesn't own the blogs
- tumbler don't own the blog posts
Finally, answer the following question:
5) Even if Pareto's Law applies to internet ownership, does it still apply to the content we read online?
Tuesday, 17 December 2013
Tuesday, 10 December 2013
Article
http://www.telegraph.co.uk/sport/olympics/diving/10487809/Tom-Daley-reveals-he-is-in-a-relationship-with-a-man-in-frank-YouTube-video-from-Olympic-diver.html
For this task I have chosen the Tom Daley article. The reason for this is he is a role mode or society, he's in the public eye. That is why I think I was attracted to this article as he talks about his sexuality. This is a extremely hard thing to do and is an inspiration to young people that look up to him and see his a role model. Within Thai article tom talks about how he's bisexual, meaning that he find both men and women attractive. Tom said this by making a video, within this video he state how he is now in a relationship with a man.
For this task I have chosen the Tom Daley article. The reason for this is he is a role mode or society, he's in the public eye. That is why I think I was attracted to this article as he talks about his sexuality. This is a extremely hard thing to do and is an inspiration to young people that look up to him and see his a role model. Within Thai article tom talks about how he's bisexual, meaning that he find both men and women attractive. Tom said this by making a video, within this video he state how he is now in a relationship with a man.
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