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Customer Insight Database
A system that collects, stores, and organizes data about customers for analysis and decision-making.
Implications
A centralized repository where customer data, including behaviors, preferences, feedback, and interactions, is stored and analyzed to generate insights that inform marketing, product development, and customer engagement strategies.
Example
Example: A retail chain uses a customer insight database to analyze purchase patterns and personalize marketing campaigns, leading to increased sales and customer retention.
Related Terms
Different from a CRM system, which primarily tracks customer interactions, a customer insight database focuses on deeper analysis to generate actionable insights.
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