To get better customer data, build feedback loops into your products

Thanks to the increasing availability of AI, including machine learning algorithms, deliberately creating customer data feedback loops is now possible for most products and services. This means that as a firm gathers more customer data, it can feed that dataโ€ฆ
The combination of user data and AI often creates data feedback loops. This means that as a firm gathers more customer data, it can feed that data into machine learning algorithms to improve its product or service, thereby attracting more customers, generating even more customer data. Think, for example, of search engines: the more people search on Google and click on the links provided, the more data Google gathers, which allows its algorithms to provide more accurate and relevant search results, attracting even more users and searches, and so on.

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