Master Data Management And The World Of Social Media

  • Added:
    Oct 27, 2013
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    1189
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Controlling IT Costs; Enterprise Architecture (EA) strategy, a shared lexicon, and enforced change
Controlling IT Costs; Enterprise Architecture (EA) strategy, a shared lexicon, and enforced change
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Customers are the heart and soul of any business. But, when it comes to customer MDM, most businesses are unable to efficiently organize the core customer information which includes plenty of research-friendly data, such as their names, preferences, contact information and ideal demographic locations. This master data is indispensable to the organization, as it offers an opportunity to maintain an accurate 360 degree approach for all their customers. However, the world of data management solutions is ever-evolving, and of late, a brand new holistic approach has come into play. The introduction of various implementation themes such as BPM and MDM integration, Cloud MDM, Big Data Impacts and Multi-domain MDM, have changed the way that we perceive the process of MDM.

Businesses can add an edge to their database by implementing social MDM, which is now taking the world by storm. It helps companies look beyond the traditional process of simply managing customer information and allows them to make precise predictions, which ultimately enhances their overall profit margins. Social media acts a democratic platform where everyone has an opportunity to express their opinions in the form of feedback and reviews. Since a lot of people go online every day to check and review the profiles of various organizations, and also to see what others have to say about them, it opens various avenues for R&D and experimentation. Businesses today simply cannot overlook the impact of social media. Hence, there is a strong connection between MDM and the customer data present on social media. In such an atmosphere, it is essential to have powerful master data quality improvement software on board, to ease the cleaning and maintenance process that follows the accumulation of data.

The process of implementing Social MDM comes with its own set of challenges. These include issues such as identifying real customers from fake ones, smoothly aligning customer data with the internal MDM profile, converting real-time data from social sites into quality information, and so on. In order to best serve customers and listen to them, it is essential to identify who are your real customers on social media platforms. Although this sounds simple, it’s an essential step and has many challenges associated with it. Factors such as maintaining the privacy of customers, discarding misleading profiles, recognizing different avatars used by people on various social networks, calculating the activity status of users, etc. poses many challenges. And without adequate help from the right master data management vendors, the workload will keep accumulating.

A fully-functional social MDM system will give businesses the opportunity to rectify and streamline their customer database, at any given time. Social MDM can help connect online customer records with their real world activities. It provides a simplified look into actual customer details, such as their queries, likes, dislikes, problems and other preferences. It is essential to find the right way to link customer social profiles with the master data management system. An easier way of achieving this is by introducing an extension to the main customer database in the MDM system. Here, one can store the important information including the access tokens and customer identities. Making such customizations can allow businesses to devise the correct strategies and make the decisions that actually matter. They can modify their services to offer highly personalized, well-timed products and services.

 

Author's Profile

Jesica Banks is a valued author and editor at a recognized data management solutions company. Her articles have been appreciated by the best in the business.


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