Pareto’s Guide to Buying Technology
The Pareto principle, also known as the 80/20 Rule, once spawned from the world of economics has now permeated into many aspects of the business world all following this simple rule: 80% of the results come from 20% of the efforts.
IT departments are still struggling with tighter budgets and have to spend each dollar more wisely. Often times what takes precedence are the things that are seen the most like old hardware and phone systems.
Tackling undefined processes and revisiting established ways to find greater efficiencies may consume 20% of an IT department’s resources while netting 80% ROI to the organization.
Granted changing processes people are used to takes some time to get everyone on board. Management can declare a new process, but the folks who are affected on a day-to-day basis have to buy into the benefits of making the change. They not only need support but also the right tools to embrace the changes. This is where technology can make a real impact. With the right technology in hand, an IT professional can make that 80% difference. And in most cases it will be while using 20% of any application.
IT folks will try to find the best solution they possibly can. They shoot for a 100% match between a new technology and their existing process. In reality, however, they will use 20% of that solution 80% of the time. So they need to be sure that 20% percent is the best possible fit.
Evaluating technology from this perspective may help you reduce the time it takes you to find a good fit by 80%. And it may also help you to find a solution that’s 20% less than you were expecting to pay and delivers 80% of what you want and a 100% of what you need.
The move towards SaaS falls right in line with this principle as well. By moving more IT services into the cloud, IT professionals can achieve same results as before with 20% of the infrastructure. This can free up 80% of their time allowing them to be more strategic and business-oriented in running their IT departments making an even greater impact on the business’s bottom line.
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