Difference between revisions of "LongTailEconomy"
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= Long Tail = | = Long Tail = | ||
A Long Tail is a logarithmic distribution of values which is common for quite a few use cases. | A Long Tail is a logarithmic distribution of values which is common for quite a few use cases. | ||
| − | Typically a small number of cases supplies a large portion of data/values or other input | + | Typically, a small number of cases supplies a large portion of data/values or other input, while a lot of cases supply only a small portion. |
= Pareto Rule = | = Pareto Rule = | ||
| − | The Pareto (80/20) Rule exemplifies relates the Long Tail concept to economic behavior by stating that in typical business scenarios 4/5 of the value | + | The Pareto (80/20) Rule exemplifies and relates the Long Tail concept to economic behavior by stating that in typical business scenarios, 4/5 of the value is created by 1/5 of the deals. |
= Graphical presentation = | = Graphical presentation = | ||
| − | The Long Tail and Pareto Rule are graphically | + | The Long Tail and Pareto Rule are graphically presented as x/y plots and/or histograms. |
| − | The area under the curve or in the | + | The area under the curve or in the histogram columns allows for visual analysis of a situation. |
Latest revision as of 11:28, 22 October 2024
Long Tail
A Long Tail is a logarithmic distribution of values which is common for quite a few use cases. Typically, a small number of cases supplies a large portion of data/values or other input, while a lot of cases supply only a small portion.
Pareto Rule
The Pareto (80/20) Rule exemplifies and relates the Long Tail concept to economic behavior by stating that in typical business scenarios, 4/5 of the value is created by 1/5 of the deals.
Graphical presentation
The Long Tail and Pareto Rule are graphically presented as x/y plots and/or histograms. The area under the curve or in the histogram columns allows for visual analysis of a situation.