Forgive  the hyperbole, but the social customer really is driving customer  service as we've come to know it to the precipice of irrelevancy.
Back in April, I wrote a post that referenced a recently released study from IBM recently titled From Social Media to Social CRM wherein they reached a harsh conclusion.
Customers,  your customers, would much rather seek information and advice from  friends, family and even strangers that look "like me" than from brands.  And by "brands", that includes customer service functions that support those brands.  Most  alarming is the disconnect between what customers actually care about  and what companies think customers care about in terms of brand  engagement.  More than half of all customers surveyed, for example, don't even consider engaging with companies on social sites.  For them, social networking is about personal connections.
Given  that scenario, I'd argue that the real value of the future customer  service function is in its ability to impact, at the enterprise level,  those issues that cause customers to engage customer service in the  first place. The contact center as data hub is an interesting concept.  And one which typically conjures up thoughts associated with CRM and how  to use that data to better engage with customers. I happen to think the  real untapped value lies in how that data is used to drive sustainable  change in the enterprise business processes that are at the root of  customer satisfaction, or dissatisfaction as it were.
There  really is a treasure trove of insight contained in the contacts that  occur daily between your customers and the contact center. Customers  talk about all sorts of things. In reality, it is a rare person that  calls customer service to tell you how much they loved the look of their  new utility bill; or how great it was that their new Professor Dumbldore bobble head doll arrived crushed in a box the size of a postage stamp.  No. Customers call the contact center, by and large, because some  process in your organization broke down; somebody messed up. 
Bill Price, the former head of customer service at Amazon, outlined his approach to this challenge in his book The Best Service is No Service.  In it, Bill argued that the first thing the contact center-as-data-hub  should focus on is eliminating what he calls "dumb contacts". Those are  the contacts that are driven by some upstream process that is broken in  the organization. Take your contact center personnel (all those black  belts) armed with statistical data and go fix those things. Billing  errors, product defects, shipping delays, stock outs, back orders, the  list goes on. Empower your customer service professionals to step  outside the contact center and drive process change, not just deliver  call reason code reports. Eliminating the demand for service driven by  these internal process flaws, as Bill successfully argues, will allow  the customer service function to then focus on high value interactions. 
The  data contained in those contacts provide a crystal clear lens in to all  that is good and not so good within your organization. It demonstrates  an undeniable truth. That truth is that every function in an  organization is responsible for the customer experience. Customer  service is not the new marketing. However, marketing, sales, finance,  HR, manufacturing, purchasing, name the department, ultimately should  have responsibility for customer service and the customer experience.  Customer touch points happen in places within your organization that are  often not immediately apparent. It takes some effort to identify these  touch points and uncover how they actually impact the customer  experience.
Who's going to do that? Acme Company VP of Customer Service, come on down. You're the next contestant on The Time Is Right.