This article is an interview with Alton Adams, Managing Partner, for Accenture's Customer Insight practice. Alton talks about what business leaders need to know about Customer Insight.

Definition of Customer Insight: The use of data, technology, and accumulated experience to help our customers more robustly and precisely acquire and keep the customers they want to acquire and keep.

Three important concepts of Customer Insight:
Precision targeting - Identifies your most important customers
Campaign excellence - Optimizes the marketing campaign process from targeting through execution
Loyalty management - Develops specific experiences for each customer segment that are unique to customers and their specific needs

Importance of Customer Insight: To maintain competitiveness when faced with industries in consolidation and to address the needs of more informed consumers.

Value of Customer Insight: Top performing organizations have moved away from a cost management focus to increasing their wallet share. Customer Insight will separate high performing companies from the rest of the pack.

Value of data warehousing in driving customer-related applications: A strong data warehouse is a necessary and key component in Customer Insight. You need to analyze behavioral, demographic and value information about each customer.