One of the best ways to customize your data and to help filter your People and Company data is to add in custom drop-downs for your Global Statuses.
Admins can customize their agency's drop-down options under Settings.
Click on the Gear Icon
Click on Settings from the drop-down
On the left-hand side click on Customize
Scroll to the section for Person Global Statuses or Company Global Statuses. Add any new ones, delete old statuses, or rename old statuses.
Note: If you want to move people from an old global status option to a new one, make sure to rename the status rather than delete the old status and add a new one.