As an analyst explaining technology to a non-technical client, how would you describe "Tokenization"?

Tokenization, in the simplest terms, is a method of converting sensitive data into non-sensitive data. In the world of technology, it is often used to protect sensitive information like credit card numbers, bank account numbers, etc.

Here's a step-by-step explanation:

1. Let's say you're shopping online and you're about to enter your credit card information. That's sensitive data that needs to be protected.

2. When you hit 'submit', the retailer's system will use a process called tokenization to replace your credit card number with a randomly generated string of characters, known as a 'token'. This token is unique and can't be reversed back into the original credit card number.

3. The token is then used in place of your credit card number in the retailer's systems. So, if a hacker were to break into the retailer's system, they would only see the token, not your actual credit card number.

4. The original credit card number is stored safely in a secure data vault, which is heavily protected and separate from other systems.

5. When the retailer needs to charge your credit card, they use the token to request the charge from the bank. The bank matches the token to the original credit card number and processes the transaction.

So, in essence, tokenization is a way of protecting sensitive data by replacing it with a unique set of characters. It's a bit like a secret code, where only the people who need to know the code (in this case, the bank) can understand what it means.