Why Product Information Management?

Managing products is complex. And getting it right once often means little. In a blink, quality data turns sour. Duplicates, errors dirty pristine data. Dan Power writes in Information Management today about the value of PIM or a product information management solution. Please see here:

http://www.information-management.com/issues/20_3/why-product-information-management-10017882-1.html

7 Must Knows before Investing in Product Information Management

Implementing product information management or PIM for short, offers choices. Some are confusing. Focus on low hanging fruit is my advice. Here are 7 things to know:

  1. Find Vendor Expertise:  Vendors are good at demo gymnastics. When given a short time to demo, vendors can come up w/ stuff that looks good. Focus on references. Talk to companies that use and have been using the vendor tool to make sure. Trust but verify vendor speak and credentials.
  2. Seek and find Flexibility: Scalability extensibility are key. Map the vendor solution to existing business process and see how it shapes up. Avoid big bang deployments, Vendors’ speak “Holy Grail,” yet find a tool which can be phased, eating low hanging fruit first. Shed a brite lite on the data model. How flexible? Can hierarchies be built and edited? Can your existing data model be used?
  3. How Open is the PIM solution? : Old news. Proprietary vs. Open technology. Put straight, open is easier to adapt and integrated to apps being used now. Does PIM application use proprietary database? Is routes of PIM in catalog management vs. ecommerce? Find out.
  4. Data Sources and Where are they? : The biggest challenge to a PIM deployment are data migration and data integration. Learn all data sources. Map out flows, in and out. where are images? How is product data received and enriched to product information? Do this first or find a vendor that knows this stuff and will help map, on their dime.
  5. Detailed Statement of Work: Get details on precise PIM implementation steps and time frames. Important. Through reference details, learn what was promised by the PIM vendor and what was delivered. Beware low ball services estimates. Dirty trick is to low ball for favorable position and then to come back to well.
  6. Prove Value: Is vendor willing to contractually baseline delivery?
  7. Risk Mitigation: Is vendor willing to work on a pricing model to mitigate risk and to find ROI faster?

    Long Tail and Blue Ocean Strategies to Increase Ecommerce Profit

    Ecommerce Sites Use Blue Ocean Strategy to Increase Sales

    Increase Sales on Ecommerce Sites

    Increase Sales on Ecommerce Sites

    This free solution guide, written in clear language by PIM-data.com ecommerce experts, is a road map to higher ecommerce sales. This solution guide offers information that can help your company exponentially  increase the products offered on your ecommerce website. This will make your ecommerce store bigger and will offer a richer customer experience.

    Long Tail Ecommerce Strategy

    This long tail strategy, detailed in this guide, will help ecommerce sites win  markets that are uncontested by competitors. The ecommerce web site is made “stickier” by offering refined product searches and deeper product choices. This delights web visitors and turns more visitors into customers.

    Increase Products Offered to Enrich Ecommerce Experience

    Often, ecommerce sites struggle to increase the number of products offered to customers. More product choices enrich the customer experience and can increase sales using up sells, cross sells, substitutions and recommendation strategies. Many ecommerce sites sell fast movers, fewer sites offer a broad and deep product catalog. If your product offering is expanded your site can become the go to source for your market place.

    A Suggestion to Automate Supplier On Boarding

    On boarding Supplier information is often a manual process which is laden with administration costs. The normalizing of new product data for ecommerce sites may be time consuming. This costs sales. This guide details a technology method to get supplier catalogs, and to normalize and enrich all product data quickly.

    Streamline Supplier On-boarding & New Product Introductions

    With the best poduct management tools, ecommerce companies can flip a switch to add a new supplier. Automating and streamlining supplier on boarding can help create a blue ocean strategy to delight customers and to crush the competition. This strategy, contrary to older supplier strategies, can massively increase your supplier base, and by doing so, offer great value to your customers by enriching your product catalogs, both print and ecommerce.

    Please get your Product Information Guide here:

    http://pim-data.com/?q=pim_guide

    Or email your request to info@pim-data.com.

    About PIM-data.com
    PIM-data.com is a website focused on improving ecommerce efficiency and ecommerce company profits. Ecommerce experts post tips, tactics and strategies on this site. The site offers a Forum for visitors to post ecommerce and master data management questions. Visitor questions are answered by a stable of industry experts with expertise in data management, data quality, product classification, product attributes and more…

    Long Tail Strategy for Ecommerce

    Use a Blue Ocean Strategy to Crush your Competitors

    PIM-data.com’s free solution guide gives ecommerce companies a road map to bigger sales. This solution guide offers great information on how to dramatically increase your supplier base to offer more products to customers. This long tail strategy will help businesses own markets that are uncontested by competitors, and will make ecommerce web sites “stickier” by delighting web visitors and turning them into customers. Competitors will not stand a chance if  just one tactic detailed in this report is put into action.

    Fix and Streamline Supplier On-boarding

    On boarding Supplier information is often a manual process which is laden with administration costs and weighed down with excess time to make the product data usable. Enterprises, from medium to large, have many suppliers. Suppliers which sell products to the enterprise to be put into their products for sale or in the case of distributors and retailers, products which are sold by the companies sales team and by the companies websites.

    A Suggestion to Automate Supplier On Boarding

    With the best supplier collaboration tools enterprises can flip a switch to add a new supplier. Automating and streamlining supplier on boarding can help create a blue ocean strategy to delight customers and to crush the competition. This strategy, contrary to older supplier strategies, can massively increase your supplier base, and by doing so, offer great value to your customers through catalogs, both print and online.

    PIM-data.com’s free solution guide gives a road map to bigger sales. This solution guide offers great information on how to dramatically increase the supplier base to offer more products to customers. This long tail strategy will help companies own markets that are uncontested by competitors, and will make your web site “stickier” by delighting all web visitors and turning them into customers. Competitors do not stand a chance if just one tactic detailed in this report is put into action.

    Please get your Supplier On Boarding Guide here.

    Or email your request to info@pim-data.com.

    Product Information Publishing

    New Product Introduction time cycles are getting shorter. Innovation cycles, improvements to existing products, are speeding up too. Yet the communication process of new product data to customers and products is still done, as done years ago. Most enterprises have not increased the speed of communication of product data. Internationalization, the growing demand for products from all corners of the world, demands and forces localized communication. Yet many marketing departments at major enterprises, struggle with publishing product data in multi languages. The pain which this company is suffering, is lost sales caused by delay and excess administration costs. Read more about Dynamic print publishing here >>>

    Gartner calls MDM “Enabling Technology”

    The recent Gartner MDM Summit in Chicago framed MDM or master data management solutions as an “enabling technology to grow and transform the enterprise.”

    If your company is floating in a sea of data and you are seeking answers and strategies to control data and strategies that have worked for companies like ExxonMobil and Fingerhut, please click here to read a full report of best of breed MDM functionality:

    Best of Breed MDM Solution and Strategy Report

    Current market conditions will change. The timing is perfect, right now, to set strategies to transform your company when the time is right. Please consider your data as a resource which can be transformed into growth, with MDM tools.

    This report, which I wrote, is full of details about taxonomies, attributes, and data quality and data synchronization. I cover advanced workflow and support each topic with screen shots of a solution. Please take a look:

    http://pim-data.com/?q=pim_solution

    Regards,

    Peter Fuller

    http://www.pim-data.com

    214-432-6189
    United States of America

    New RFI Guidelines for MDM and PIM solutions

    PIM-data.com, a MDM and PIM strategy website, has just released a new MDM request for information (RFI) guide to help enterprises frame baseline vendor questions for MDM solution vendors. This guide has queries and answers to help the MDM solution seeker funnel to a shortlist quickly.

    PIM-data.com has just released a new guide which will save enterprises time and cost in framing an MDM solution plan. This new guide will help answer: “Where can I get data on master data management solutions, which can manage multi-domains like customers, suppliers, parts and more, which will fit our business, and will meet our requirements?”

    The recent Gartner summit in Chicago described the MDM solution space as fragmented. Many vendors can only do certain aspects of a full MDM enablement strategy. Some vendors model customers, some model products. Only a few can deliver an architecture an enterprise can grow with and which can model multi domains. And most vendors will tell you that there solution is “multi-domain” yet this is not the case. This Guide, in clear question and answer format, helps you diagnose the best MDM solution providers for your enterprise.

    This free guide, in a spreadsheet format, delivers over 150 detailed RFI questions which need to be explored. The guide is in RFI or RFP format; a list of categories and questions reside on the left side of the guide, and the answers are posed on the right side of the guide. Categories include:

    *** Taxonomies, Classifications, hierarchies
    *** Attribute management
    *** Data Aggregation
    *** Data Governance
    *** Data Quality Management
    *** Advanced Work Flow

    If your company is considering MDM or PIM solutions this guide can assist you. The guide is full of best practice queries and answers which may help your MDM enablement process and guide you to a vendor shortlist quickly.

    This guide will be sent to you, FREE of Costs.
    Please email to info@pim-data.com to request your copy.
    Please call 214-432-6189 for your requests if you prefer.

    About PIM-Data.com

    PIM-data.com is a MDM and PIM best practices forum and blog which covers MDM and PIM best practices and solution providers.
    PIM-data.com is located in Dallas, Texas.

    Slash Cost of Product Information Data Publishing

    Print publishing is often time consuming and limited. Catalogs can take several months to prepare for pre-press and are limited to current data at the start of this process. Many catalogs, far too many, come fresh in the box from the printer loaded with dated and inaccurate information. Dynamic print publishing, working with a product information management solution speeds this process. With a push of a button, maybe two buttons, you can print a catalog. Our clients tell us to expect these benefits with a PIM/Publishing solution:

    • Fast – automated product information updates from your Suppliers.
    • Normalization and transformation of product data is automated.
    • New products and updates are made available to your enterprise in near real-time.
    • Your Corporate design is maintained across divisions and locations.
    • Universal application, available to all administered users, for use in mult formats, (Indesign, Quark)
    • Decentralized handling, users can work locally and publish to a central repository.
    • A central database or repository is maintained with accurate product information.
    • Can be integrated with CRM to do customized campaigns.
    • 80-90 % Reduction in lay-out and pre-press time and cost.
    • Production of comprehensive and customer specific catalogs.

    This solution is not your old print publishiing software. Or a static hard to use software tool. Technology has made big gains pulled by ever increasing new product flow and product update demands. Present your partners and customers with a rich, real-time product offering, include bundles and assortments. Make your company’s products ‘Stickier” and boost your profits.

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    product information management

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