The Long Tail
In most businesses, we focus on the statistically relevent majority. But there is much money to be made, and customers to satisfy, in the statistical edges... the long tail. Chris Anderson writes,
"One of the signs of a great idea is that people feel like they've known it forever. That, at least, is what I tell myself when people suggest that the concept of The Long Tail predates my article of the same name last year. This first came up in the crafting of the Wikipedia entry on The Long Tail following my original article, and it again rose in my conversations with Tom Standage of The Economist last week. I'll take a moment here to explain the derivation and perhaps we can clear up this issue once and for all."
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