A major advantage of customer databases is that the customer lifetime value for each customer can be readily monitored.

Question

Quizplus · Accepted Answer

Customer databases allow businesses to track customer behavior and preferences over time, which can help determine the customer's lifetime value. This metric estimates the total amount of revenue a customer is projected to generate for the company over their entire relationship with the business. By monitoring this value, companies can make informed decisions about marketing and customer service strategies to retain high-value customers and increase overall revenue.

A Major Advantage of Customer Databases Is That the Customer