Tuesday, April 6, 2021

Pareto principle and other ludicrous interview questions, which are asked

Today, G. Ripley had a video call with a Prod. Support Manager at BO Company. BO Company is an insurance technology company, that works in 'Insurtech.' Insurtech is the combination of two words, insurance and technology. A true definition of Insurtech is the use of technology innovations designed to extrude savings and efficiency; from the current insurance industry. BO Company is one firm, in which BO does not mean body odor. Furthermore, the Prod. Support Manager started to ask random questions like 'what is the pareto principle?' The pareto principle does not have to do with software support, or application support. After the Prod. support manager asked me some technical questions, she asked me about the Pareto principle. The Pareto principle is a principle specifying that 80% of consequences come from 20%, of the causes. This principle asserts an unequal relationship, between inputs and outputs. The Pareto principle was created by acclaimed economist Vilfredo Pareto. Next, let's discuss Vilfredo Pareto and his achievements in Engineering; Economics; and sociology. Pareto lived in the 19th century, and he was a prominent economist until his death in 1923. Vilfredo earned/received a Phd in Engineering, from Polytechnic University of Turin. He is known for pioneering the Pareto Principle, which is known as the 80/20 rule. In Pareto's first work, Cours d'économie politique, Vilfredo showed that approximately 80% of the land in Italy was owned by 20% of the population. Pareto's observation was regarding population and wealth primarily. Another way of looking at Pareto principle is in sales revenue, and business management. There is a familiar adage that "80% of sales come from 20% of clients." In the US, 20% of the population's top earners paid roughly 80–90% of Federal income taxes in 2000 and 2006. This situation or scenario happened again, in 2018. Former Microsoft CEO Steve Ballmer noted that by fixing the top 20% of the most-reported bugs, 80% of the related errors in a given system would be eliminated. That last statement shows how the 80/20 rule works, in quality assurance and software testing. In closing, the Pareto principle is not a principle used in software development or application support or coding per se. When an interviewer asks you, what is the pareto principle? The best way to answer it is 'I don't know, but I will search that one in google or other tech. journals.' Unfortunately, this answer is the one G. Ripley had to use today. Hopefully, a 2nd video call interview will happen. At the end of the day/week/month; Patience is the last virtue that G. Ripley has to possess. Arrivederci!!

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