All Posts

4 Benefits of Implementing PIM Software

Product data management (PDM) is a crucial investment that top performers in the market have made to make their product information more findable, usable, and valuable.

PDM is the process of sourcing and organizing data about your products. This includes accurate and complete descriptions, technical specifications, images, related content, and more.

There are a lot of moving parts to consider when it comes to PDM—millions of SKUs from hundreds of suppliers in different formats, product images, related products’ information, manufacturers’ information, and more. A software to enable better PDM, also referred to as a product information management (PIM) system, can include information such as:

  • Product descriptions
  • Technical specifications
  • Parts information
  • Related products
  • Related digital assets

In short, PIM software can enhance your PDM strategy by managing the product information needed to market and sell products through distribution channels like your online product catalog.

Continue reading to learn the top four benefits your organization can reap by selecting and implementing a PIM system into your business.

To learn everything you need to know about product data management, click here.

1. Data Completeness & Control

One of the main advantages of a PIM system is the ability to retrieve any data related to a product at any time with ease.

Having control over product data allows team members to streamline the processes involved in getting products from suppliers and to customers.

PIM software also allows you to have better control over large data sets and other elements, such as:

  • Category specific attributes
  • Attribute management taxonomy
  • Ecommerce navigation taxonomy
  • Incoming and outgoing data to/from external sources
  • Item entity data models

Most companies have product management, marketing, and ecommerce teams who will create and use the data, engineers who supply data, and suppliers whose data input needs to be coordinated. So, it is important to identify the key players who will participate in ongoing governance by asking:

  • Who owns each of these data sets?
  • Who will attend training?
  • Who will be part of the governance processes after the PIM system goes live?

Each team needs to have a voice, and their requirements need to be understood.

See the benefits of data control in action.

2. Improved Collaboration

Adopting a PIM system into your organization can benefit the entire team dynamic. Each department will have easy access to all information related to the product—this allows for improved collaboration.

From the product data managers, to product engineers, to sales personnel and customer service teams, the full organization will benefit directly from accessing the same product data within a PIM system.

The features of PIM software, such as fast data sharing, data modification control, and revision-tracking, allow teams to be more collaborative. Although multiple people will be working through one platform, PIM systems can be set up to prevent data sets from overwriting without the correct governance, so there is no risk of violation to the style guide rules.

Using PIM software, there is a single access point where the latest versions of the data can be found so all product participants can access them.

See how one team’s collaboration has improved since implementing a PIM system.

3. Reduced Risk of Error

The more accurate, complete, and timely information you have, the more likely you are to make better business decisions, stay competitive, and manage risk.

Since all product information will be stored in a central system, the chance of errors—like data loss and sharing inaccurate information—is drastically reduced.

A central system where several users can check each product data sets usually results in fewer errors. This will enhance processes and result in better key performance indicators, like time to market for new products, better product data audit results, and improved overall data fill.

4. Increased Efficiency

A PIM system gives teams more time to spend on value-based projects rather than wasting time searching for and managing data themselves.

In a competitive market where customers expect fast, personalized buying opportunities, your organization can’t risk losing sales or damaging customer relationships due to poorly managed product information.

Better yet, organized product data in an effective PIM system enables automated, low-touch conversion points for your customers. For example, an accurate online product catalog fueled by a PIM system enables customers to find the information they need quickly and easily, then happily convert to a sale—meaning more time for your team to spend on high-value tasks, like nurturing the customer relationship for repeat sales.

Although the benefits are clear, moving to a PIM system like Informatica, Agility Multichannel, Salsify, or Enterworks is a big step. It should be considered carefully, as a great deal of preparation is required to make that move successful.

Get Started: Optimize Your Product Data

Ultimately, PDM is the beginning of a process that helps you control all projects, collaborate more with your team, reduce development errors and costs, and use resources like PIM systems effectively and efficiently.

Earley Information Science can help you compile, arrange, and effortlessly access all product information in one centralized location—creating a seamless system for your entire ecommerce team. Contact us to begin optimizing your product data.

Seth Earley
Seth Earley
Seth Earley is the Founder & CEO of Earley Information Science and the author of the award winning book The AI-Powered Enterprise: Harness the Power of Ontologies to Make Your Business Smarter, Faster, and More Profitable. An expert with 20+ years experience in Knowledge Strategy, Data and Information Architecture, Search-based Applications and Information Findability solutions. He has worked with a diverse roster of Fortune 1000 companies helping them to achieve higher levels of operating performance.

Recent Posts

The Future of Bots and Digital Transformation – Is ChatGPT a Game Changer?

Digital assistants are taking a larger role in digital transformations. They can improve customer service, providing more convenient and efficient ways for customers to interact with the organization. They can also free up human customer service agents by providing quick and accurate responses to customer inquiries and automating routine tasks, which reduces call center volume. They are available 24/7 and can personalize recommendations and content by taking into consideration role, preferences, interests and behaviors. All of these contribute to improved productivity and efficiency. Right now, bots are only valuable in very narrow use cases and are unable to handle complex tasks. However, the field is rapidly changing and advances in algorithms are having a very significant impact.

[February 15] Demystifying Knowledge Graphs – Applications in Discovery, Compliance and Governance

A knowledge graph is a type of data representation that utilizes a network of interconnected nodes to represent real-world entities and the relationships between them. This makes it an ideal tool for data discovery, compliance, and governance tasks, as it allows users to easily navigate and understand complex data sets. In this webinar, we will demystify knowledge graphs and explore their various applications in data discovery, compliance, and governance. We will begin by discussing the basics of knowledge graphs and how they differ from other data representation methods. Next, we will delve into specific use cases for knowledge graphs in data discovery, such as for exploring and understanding large and complex datasets or for identifying hidden patterns and relationships in data. We will also discuss how knowledge graphs can be used in compliance and governance tasks, such as for tracking changes to data over time or for auditing data to ensure compliance with regulations. Throughout the webinar, we will provide practical examples and case studies to illustrate the benefits of using knowledge graphs in these contexts. Finally, we will cover best practices for implementing and maintaining a knowledge graph, including tips for choosing the right technology and data sources, and strategies for ensuring the accuracy and reliability of the data within the graph. Overall, this webinar will provide an executive level overview of knowledge graphs and their applications in data discovery, compliance, and governance, and will equip attendees with the tools and knowledge they need to successfully implement and utilize knowledge graphs in their own organizations. *Thanks to ChatGPT for help writing this abstract.

Innovation with Utility in Mind - What’s Ahead for 2023

It has been a year of advances in AI with new tools that create art, write essays, and have conversations that are often (but not always) startlingly eloquent.  It is that space of "not always" that keeps these tools from working out of the box to solve actual business problems without human intervention.