MDM: Big Data-Slayer
There's quite a bit of talk about Big Data these days across the Web … it's the meme that just won't quit. The reasons why are pretty obvious. Besides a catchy name, Big Data is a real issue faced by virtually every firm in business today.
But what's frequently lost in the shuffle is the fact that Big Data is the problem, not the solution. Big Data is what marketers are facing—mountains of unstructured data accumulating on servers and in stacks, across various SaaS tools, in spreadsheets and everywhere else you look in the firm and on the cloud. In fact, the actual definition of Big Data is simply a data set that has grown so large it becomes awkward or impossible to work with, or make sense out of, using standard database management tools and techniques.
The solution to the Big Data problem is to implement a system that collects and sifts through those mountains of unstructured data from different buckets across the organization, combines them together into one coherent framework, and shares this business intelligence with different business units, all of which have varying delivery needs, mandates, technologies and KPIs. Needless to say, it's not an easy task.
The usual refrain most firms chirp about when it comes to tackling Big Data is a bold plan to hire a team of data scientists—essentially a bunch of database administrators or statisticians who have the technical skills to sift through the Xs and 0s and make sense out of them.
This approach is wrong, however, as it misses the forest for the trees. Sure, having the right technology team is essential to long-term success in the data game. But truth be told, if you're going to go to battle against the Big Data hydra, you need a much more formidable weapon in your arsenal. Your organization needs a Master Data Management (MDM) strategy in order to succeed.
Who’s Your Data? is a blog that aims to disseminate thought-provoking tips and techniques involving the use of data and database marketing to direct marketing professionals. Why should you care? Because implementing data best practices has been shown to lift response rates, improve analytics and enhance overall customer experience. Reader participation is encouraged!
Rio Longacre is a Sales & Marketing Professional with more than 10 years of experience in the direct marketing trenches. He has worked closely with businesses across many different vertical markets, helping them effectively leverage the use of data, personalization technologies and tracking platforms. Longacre is currently employed as a Managing Consultant, Marketing, Sales & Service Consulting at Capgemini Consulting, a premier management consulting firm. He is based in the company's New York City office, which is located in Midtown Manhattan. He has also previously worked as an online media buyer and digital marketing strategist.
Email Longacre below, or you can follow him on Twitter at @RioLongacre. Any opinions expressed are his own.