A company collects customer feedback from various platforms and analyzes the data to improve its products. What is the company practicing when it uses this data to make improvements and potentially increase sales?
Data monetization
Data analysis for compliance
Data storage enhancement
Data visualization for marketing
The company is engaging in data monetization, which involves utilizing collected data to generate value for the business, such as enhancing products and increasing revenue through better customer satisfaction. Other options may seem relevant but do not capture the essence of monetizing data effectively.
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