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Five Examples Of How Master Data Management (MDM) Helps Integrate Social Media Data Into Your Business

Are you trying to figure out how to integrate social media data into your business?

A recent poll, taken during a webinar on The Power of Social & Mobile Data, revealed almost 50% of respondents are trying to integrate social media data into their business. Half indicated that the Marketing executive was most interested. For almost 20 percent it’s the Product Development or Merchandising executive.

Using MDM to Integrate Social Media Data into CRM

Informatica customers use social media data, from social networks such as LinkedIn, Facebook and Twitter, to do one of two things:

  • enrich an individual customer’s profile in CRM,
  • customer sentiment analysis.

Our customers told us the biggest challenge they faced before using MDM to integrate social media data was separating the social media data that’s RELEVANT to their business from what isn’t.

I thought you might appreciate these five examples of how our customers are using master data management to integrate social media data into their business.

1)      Ensuring that the Jane Doe on Facebook, Twitter and LinkedIn is the same Jane Doe in the CRM system. Thirteen percent of poll respondents are planning or already using MDM to integrate customers’ corporate profiles in CRM with their social profiles from social networks. Twenty nine percent are thinking about it, but haven’t solidified their plans. What’s interesting to me is 50% hadn’t considered using MDM for integrating social media data, but think it’s a great idea.

2)      Only including Jane Doe’s specific comments, reviews, ratings about their companies, products or services and excluding all irrelevant activity. This helps our customers focus on the information that adds value and is actionable. Some of our customers are also including Jane Doe’s activity on competitive products and services.

3)      Adding friends and family from Jane Doe’s social network into her CRM profile, providing access to the people Jane Doe influences and those who influence her. This is highly beneficial for Marketing since studies such as Friends Versus the Crowd: Tradeoffs and Dynamics show that friends’ recommendations are typically more influential than ratings from the general public.

4)      Including relevant interests or hobbies to improve customer service engagement and targeted marketing offers.

5)      Better understanding customers with real-time sentiment analysis. Sentiment analysis holds massive potential for social media marketing, revenue prediction and financial trading. Our customers want to know:

  1. Who are the individuals involved in the conversation?
  2. Are they one of our top customers?
  3. How are these individuals related?
  4. What specific product or service are they talking about?
  5. Are they having issues we should be aware of or resolve immediately?

Are you using master data management to integrate social media into your business?  Please share your thoughts and experiences.  If you want to learn more about how Informatica MDM helps  integrate social media data into your business:

 


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4 Responses to Five Examples Of How Master Data Management (MDM) Helps Integrate Social Media Data Into Your Business

  1. John Owens says:

    Hi Jakki

    Integrating Social Media Data into MDM definitely presents great opportunities for enterprises. However, with current state of play of MDM in most enterprises this also presents great risks. This is true for two major reasons.

    The first of these is that too many enterprises currently have an entity called Customer listed as a Master Data Entity (MDE). The fact is that there is no such MDE as Customer. This is merely a Role (albeit a very important Role) played by the real MDE of Party.

    Why does this matter? Because it completely stops an enterprise implementing Item 3) in your post, namely collecting the comments from a Customer’s friends and family. Where would the details of these individuals be held? In Customer? Would each friend and family member become a ‘special’ type of Customer?

    Having the MDE of Party completely eliminates this problem. Each ‘Customer’ would become a Party playing the Role of Customer. Each friend or family would become a Party with a relationship of ‘Friend’, ‘Brother’, ‘Mother’, etc. to the Party who is playing the Role of Customer.

    Without the MDE of Party this problem is tripled. People who are ‘Customers’ can also be ‘Suppliers’ and ‘Employees’. Jane Doe could appear in (at least) three different databases. This would mean replicating all of the friends and family comments, etc. against each of these – it would be a replication nightmare!

    However, the major reason why integrating Social Media into MDM is almost impossible at the moment is that few enterprises know what the Unique Identifier of their ‘Customer’ actually is!! All you have to do is look at any enterprise that has separate MDEs of Customer, Supplier and Employee. In one they will say that the UID of Customer is Customer ID, in the other Supplier ID and the third Employee ID. One entity known by three different names and with three different ‘unique’ identifiers!

    With this internal confusion, do they really think that they can go out into trawl the SM universe, identify their ‘Customers’ and then correctly link to all of their comments and all of those of here family and friends? I think not!
    In the past they used be “Lies, damn lies and statistics”. Now we have, “Lies, damn lies, statistics, Social Media MDM and, yet to come, Big Data”.

    Regards
    John

  2. Pingback: Using MDM to Better Utilize Social Media Data | Data Daily | DATAVERSITY

  3. Jakki Geiger says:

    Hi John, thanks for taking the time to respond to my blog. My blogs focus on a business audience rather than technical audience so I don’t go into technical details. When I’m speaking with my business counterparts, they aren’t always interested in hearing the technical details behind the scenes. They typically want to know what’s possible to help them acheive their goals — and how much it’s going to cost them :)

    But you bring up a good point.

    When I use the term customer, yes, you would store that in the Informatica MDM Hub as a “party.” With regard to relating those parties with other parties and identifying their roles, you would use Informatica MDM’s relationship hierarchy capabilities.

    Many companies use this capability to see the connections between members of a household (The Jones Family: John Quincy Jones, his spouse and 3 kids) or the org structure of a customer company (Parent Company: CEO, VP, Director for example) or a parent company and its subsidiaries and the contacts within those companies.

    If a company has this “party” data in its systems already, we can store and manage that data and the relationships between that data (in this case, relationships between parties) in the Informatica MDM Hub. You can see this hierarchy manager capability in action in a demo titled, Enrich Customer Data in Your CRM Application with MDM.

    Now it’s questionable whether or not a company would want to consolidate across customer, vendor and employee categories. I personally have not heard this request. What I hear from the majority of our customers is the need for one single view of customers across all business units, departments and regions. They believe having a solid customer data foundation layer is a key first step for becoming customer-centric and integrating social media data into their apps.

    Social networks such as Facebook, Twitter and LinkedIn provide yet another source of “party” relationship information that can be used to augment the “party” data in the Informatica MDM Hub. For more details, you may want to watch a demo titled, Integrate Social Media Data into Your Applications for Sentiment Analysis.

    So to sum up. You are correct. Technically speaking you would store the information in the MDM hub as a “party”. You need hierarchy management capabilities to store and manage the relationships between parties. Most companies are still in the beginning stages of MDM and are just trying to get to a single customer view. Others have mastered their relationships between parties and other domains such as product and employee. Our visionary customers invested in MDM so they could integrate social media data into their business.

  4. Dick Brummer says:

    Jakki, John
    I agree with both the bussiness and technical perspective. The important thing to remember is that an Employe and/or a Supplier can also be a CUSTOMER/PROSPECT OR LEAD and the Party model does provide an excellent approach and model to provide for these MDM requirements. We are currently applying this MDM principle for a Telco Customer in the Party /Resource /Location and Product domains using IBM MDM capabilities.

    Regards
    Dick

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