Data Quality and Data Governance

MDM for Product Information Management solutions should have data quality functionality. Functionality that cleanses data and maintains data. Buckets of function include:

Data Profiling
Data Cleanse and Normalization
Workflow
Business Rules

Benefits of Product Information Management Solution

Some product managers, marketers, e-commerce pros, and merchandisers know MDM, many do not . I will use this post to cover high level benefits of MDM and MDM for product information management:

Improve regulatory compliance – PIM software, a solution providing workflow, streamlines compliance processes and provides a single source of of product information.

Reduce and Avoid Costs – Existing applications become stronger with help from a PIM solution. ERP, CRM, Data Warehouses, gain life from a single source of accurate customer and product information.

Productivity Gains – Data entry errors reduce. Processes gain efficiency. Key areas of operations; order entry, invoicing, customer service, ecommerce all gain from accurate, up-to-date product information.

Customers Benefit – A single, accurate view of all customer activity strengthens support efforts. Customer support calls are shorter and less frequent.

E-commerce Boost – website visitors appreciate, accurate, rich product information. Informed decisions are easier to make, sales increase.

Salesforces are Armed – solid PIM solutions, using a portal framework driven with product information, create customized presentations and proposals on demand. The sales conversation is specific and zeros in on customer needs.

Does Product Information “Don’t Buy from Us”

here is a powerful post by a leading PIM provider.

http://enterworks.wordpress.com/2011/08/10/what-is-your-product-information-telling-your-customers/

Growth Strategy for Mid Size Business

I talk w/ many smaller companies, 10mm to 50mm. Gazelles, they wish to become. Fast, hard growth across markets is desire. And how to do this.

One manufacturer plans to grow ecommerce. More direct sales vs. selling through channels. Need, in this case, is fast responsive product information feeds to web site. To compete in this market, lap top accessories, the business needs to move much faster. Promotions, new products, product specials, substitutes, up sells, cross sells, all important.

And product data is a mess at this company. Folks run around looking for images, looking for product attributes, putting together in usable format for web. A simple growth strategy may be to implement a PIM or product information management solution.

This solution will get data, cleanse and enrich and publish. Faster than it takes to read this sentence. Business rules monitor processes, alerts and notifications are sent to make sure data governance rules are met.

Automate Product Information Management Processes

How are new products introduced at your place? How about product edits. My meeting w/ Ostock was delayed, when Michael Jackson died. Product managers, marketers, and merchandisers, hair on fire, trying to update the website w/ promotions selling the one gloved guy’s stuff.

Silly, no? Execs sit on high and feel no pain. Yet under the hood, humans run fast to keep product information up to date, or at least try to. Now listen, or read for a sec, cause havoc’s reign in your organization can be calmed. Just like popping a few valiums, peace and effectiveness can win by automating getting, cleansing, classifying, enriching and publishing product information. Get a free guide here: