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Multi-tenancy is a software architecture where a single instance of a software application serves multiple customers, also known as tenants. In this architecture, the software is designed to segregate the data and configuration of each tenant while sharing the same resources and infrastructure.

Multi-tenancy is commonly used in Software-as-a-Service (SaaS) applications, where the provider hosts the software and serves multiple customers over the internet. This architecture allows for cost-effective and efficient use of resources, as well as easier maintenance and upgrades.

There are three main types of multi-tenancy:

1. Shared Database: In this type, all tenants share the same database, but their data is separated by schema or table partitioning. This approach is simple and cost-effective, but can lead to performance issues as the database grows.

2. Separate Database: In this type, each tenant has its own database, which provides better performance and scalability. However, it requires more resources and maintenance.

3. Hybrid: This type combines elements of both shared and separate databases, allowing for flexibility and customization.

Multi-tenancy requires careful consideration during product development, as it impacts the architecture, security, and scalability of the software. Product managers must ensure that the software is designed to meet the specific needs of each tenant, while also providing a seamless and consistent user experience.

Key considerations for multi-tenancy include:

1. Data isolation and security: Ensuring that each tenant's data is protected and isolated from other tenants.

2. Customization: Providing flexibility for tenants to customize their experience while maintaining consistency across the platform.

3. Performance: Ensuring that the software can handle the load of multiple tenants and scale as needed.

4. Maintenance and upgrades: Ensuring that updates and maintenance do not disrupt the service for any tenant.

Multi-tenancy can be a powerful tool for delivering cost-effective and scalable software solutions. However, it requires careful planning and execution to ensure the best possible experience for all tenants.