Big Heads and Long Tails in Retail
October 30, 2015
The Pareto Principle states that, for many events, roughly 80% of the effects come from 20% of the causes. The principle certainly finds expression in grocery sales data and the following diagram is quite typical of what one can observe. In retail parlance, the top product classes or SKUs are called the big heads and … More Big Heads and Long Tails in Retail