Have any of you used the Pareto Principle aka the 80/20 rule to declutter?

It is said that a small percentage of *anything gives you the most reward/use. That could be, and generally is referred to, 20% of your stuff gives you 80%of value, but it could be 90/10 or any other similar fraction. The fraction/ratio is not really the focus. It’s more that a small percentage gives you the largest reward. Have any of you tried decluttering using this concept? If so, how did it go?

*Insert any category here. I mean things/possessions, but it was originally used in economics for agriculture I believe.