We are in the “age of customer” and cross-channel sales is now relevant like never before. To add to that, data is exploding in volume, variety and velocity, and is readily available both in public domain and privately. Therefore, harnessing product data as an enterprise asset to engage and differentiate effectively with their customers is extremely critical. The following aspects should be keenly looked at when selecting a PIM tool in today’s world.
Data Onboarding & Distribution
PIM solutions have traditionally focused on ‘data you know’. In the current scenario, ‘data you don’t know’ gains a lot of relevance. Accordingly, it is imperative that we are able to rationalize data from multiple sources – including vendors, data pools, content aggregators as well as web.
On the other hand, publishing product data to multiple channels and not just your own e-commerce platform, is the tone of future. Retailers have to make their products available across marketplaces, various online channels and retail trading partners to keep pace with ever-growing customer choices.
Data as an Asset
Just managing data is no longer sufficient. The time demands making the data, consolidated through internal and external sources, an asset for an enterprise. It is important to leverage insights and analytics, gauge customer sentiment and obtain competitive intel from the data available to one. That helps an organization in differentiating content and making the data relevant for target customer segments.
Product Data Services
Traditional PIM solutions offer a single source of truth for product master data. In the current age, it is becoming essential for PIM solutions to be the single source for all product information, across the enterprise. The data may be stored and managed in different systems, but the answer lies in creating a consolidated data repository with scalable services layer on top. It would serve not only as the publisher of product data across all internal systems and customer touchpoints, but also as a common platform to obtain insights and be able to do analytics on all product information.