| Term |
Definition |
| Customer |
A person who buys or uses goods or services, with whom a company should develop a relationship. |
| Customer-centric |
Placing the customer at the centre of an organisation’s business planning and execution. |
| Customer-driven |
Allowing and encouraging customers drive the direction of a business. |
| Customer lifetime value (CLV) |
The profitability of a customer over their entire relationship with the business. |
| Customer relationship management (CRM) |
A strategy for managing a company’s relationships with clients and potential clients. It often makes use of technology to automate the sales, marketing, customer service and technical processes of an organisation. |
| Data |
Statistics and facts collected for analysis. |
| Data mining |
The process of analysing data to discover unknown patterns or connections. |
| Key performance indicator (KPI) |
A metric that shows whether an objective is being achieved. |
| Metric |
A defined unit of measurement. |
| Model |
A strategic visual representation of a process that a company adheres to. |
| Prospect |
A potential customer. |
| Stakeholder |
A person or organisation with an interest in how a resource is managed. |
