2. Enhanced 360º View of the Customer

Extend existing customer views by incorporating additional internal and external information sources. Gain a full understanding of customers—what makes them tick, why they buy, how they prefer to shop, why they switch, what they’ll buy next, and what factors lead them to recommend a company to others.

I would like to add: Here companies use big data analytics to understand and better engage with customers. Examples would include telecom companies that use the data from phone records as well as social media behavior to create better pictures of customers. Some have started to predict churn and loyalty behaviors simply by classifying customers based on their call and social media patterns.

It's amazing customers don't freak out that companies use data crunching to figure out more about them.