In the Accounts module we store information about companies that we work with. Instead of the information of an individual, we save the contact info of a company.
This becomes really useful because we can also create connections between the Contacts and Accounts using related records (more on that later). For example, within the Contacts module (the individuals), we can associate them with an Account (a company) via the “Account Name” field.
Then, back in the Accounts module and in that specific record, we can see a list of every Contact that is associated with that Account.
This is one of the strengths of CRM, its organizational capacity to create connections between records.