The Perils of Analysts Demanding Perfection and Precision

March 13, 2012

I refer to myself as a “ready-fire-aim” kind of guy. Although this is an exaggeration, it makes the point that I stop analyzing when the information is good enough to gain insights or make decisions.

I am an advocate of the Pareto principle that is also known as the 80–20 rule – the law of the vital few versus the trivial many. It states that for many events, roughly 80% of the effects come from 20% of the causes.