The Pareto principle is an observation that about 80% of outcomes are due to 20% of actors, whether people, processes, events, or other causes. And it’s likely that 80% of the benefit from a piece of software comes from 20% of its capabilities. Why care about advanced Microsoft Word formatting choices when all most people need is the remarkable ability of an electronic typewriter that can erase mistakes without the application of correction fluid to a page?

Oversimplified to a degree, yes, but the basic idea is correct. Software becomes overbuilt and over-featured over time for business reasons. The history of the industry is wrapped up with the need for ongoing revenue. Users indefinitely could continue with the license they purchased. Vendors then sold upgrades with new features and eventually stopping support for the earlier versions. Then the industry turned to cloud-hosted systems and an older model of software rental from mainframe days. Want to use the application next year? You paid the annual fee. But to avoid resentment and try to push competition away, the vendors kept adding features.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erik Sherman

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.