What is the role op feedback in a business organization?

What is the role op feedback in a business organization?
In a business organisation, there can be different types of feedback, each with its unique and important significance e.g.

1. Sales and Customer related Feedback: Improved product/service, better understaing of consumer needs, redevelopment of pricing strategy, reaching to clients in an efficient way.

2. Distribution related Feedback: Reduction in distribution cost, reaching the target market fast and overall improvement in efficiency.

3. Production related Feedback: reduces cost, improves efficiency and enhances individual as well as collective productivity.

The above given are only few types of feedback. In an organisation there can be several other types of feedback but in today's enhanced competition and consumer awareness, the above three are considered the most important feedback.