BEST PRACTICES: Social MDM: Completing the 360° View, (Financial & Retail Use Cases)
Practice Manager, Master Data Management, DataSource Consulting
Although MDM has experienced significant growth in adoption over the last ten years, many organizations still struggle with "what do I do with it, once I master all my domains?" It is incumbent upon us as professionals in this space to provide this manner of education and insight. This is a foundational reason many of our colleagues attend such conferences is to hear something new, something different, that is relevant to them. We must provide the industry with not only tried and true best practices in technologies and methodologies, but also thought leadership in how to drive the business forward. This presentation is not technology, for technology sake, but a way to add and drive success for their respective organizations.
A common goal of MDM implementations is to create an accurate, uniform 360 degree; view of the customer, which can be shared across the organization. This accurate, consistent view provides for an enhanced customer experience for multi-channel interactions, as well as cross-sell, up-sell opportunities. The next logical step for advancing the usefulness of the master data record is to include the social media touchpoints of the customer. By leveraging social media touchpoints of the customer to enrich the existing MDM customer record a direct line of marketing has just been opened to the customer, in the medium preferred by the customer. This is not without its challenges.
This presentation will present a case study that helps attendees understand the “value proposition” of social media data enrichment by discussing such topics as:
- Integrating social media data acquisition into the Master Data Strategy
- Tapping into the social media information pool
- Determining which data elements should be mastered