In one of 2016’s biggest tech deals, Microsoft announced that it would pay just over $26 billion to acquire LinkedIn, the market leader in professional social networking.
Microsoft has stated that it plans to integrate LinkedIn’s connection and profile data across the majority of their products, providing users with new research and networking opportunities from within applications like Outlook, Skype and more. Microsoft has also said that it plans to use LinkedIn’s database to improve their Dynamics CRM platform by incorporating LinkedIn’s social data and Sales Navigator software to power better lead generation and deeper customer insights.
Perhaps the most important aspect of the acquisition, however, is simply that Microsoft gains access to a wealth of profile data from LinkedIn’s more than 430 million accounts. These profiles contain valuable user generated first-party data or information collected directly by LinkedIn from customers and subscribers. First-party data attributes may include names, ages, geographical locations and interests, along with on-site interactions such as how frequently users view certain pages or how they interact with their network of connections.
Microsoft’s purchase of LinkedIn is another indicator of the increasing importance of consumer data in the world of digital business. We look forward to seeing how this historic merger might benefit both companies. Meanwhile, Gigya’s 700+ customers are still collecting and managing consumer data to drive new business value, even if they can’t afford to enter into multi-billion dollar acquisitions.
Gigya’s Customer Identity Management platform enables enterprise customers to collect and unify all kinds of user data while maintaining compliance with regional data protection laws and the privacy policies of more than 25 social networks and other identity providers. Our platform enables our customers to:
- Drive more registrations and improve customer experiences across all of their web properties and apps
- Leverage first-party consumer data to generate valuable insights into their own customers’ preferences and behaviors while driving business value through pre-built integrations with more than 50 leading technology partners
For more information on how Gigya’s Platform can help you connect with your customers, collect and manage a huge variety of consent-based profile data, then use that data to drive new revenue, check out our platform overview page.
By Jim Werner