Information provided by customers about their experiences with a product, service, or brand, including opinions, suggestions, complaints, and praise. This feedback helps businesses understand customer satisfaction levels and identify areas for improvement.
The systematic collection of customer feedback emerged in the mid-20th century with the development of market research methodologies. The term 'feedback' itself comes from electronics and cybernetics (1920s-1940s), referring to the return of information about a process. In business contexts, it evolved from simple complaint handling to sophisticated customer experience management systems.
Only about 4% of dissatisfied customers actually complain directly to companies, meaning that for every complaint received, there are likely 24 other unhappy customers who remain silent - making proactive feedback collection crucial. The rise of online review platforms has democratized customer feedback, with studies showing that a one-star increase in Yelp ratings can lead to a 5-9% increase in revenue for restaurants.
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