Master Data in E-commerce - one source of truth, Monogo E-commerce News, 54
Good practices in Master Data
How do the most successful e-commerce companies work with product data? Often when starting an e-commerce implementation project, we encounter problems identifying the source of product data. They are there, but scattered over many places. There are some problems associated with this.
First and foremost, in a well-planned product launch process, we should have a well-defined product onboarding location right from the start. The new product should be given basic information, such as numbers. Depending on the situation, if the work is started by R&D or if it is the product that is ready from the supplier/manufacturer, onboarding the product is an important step.
It is often the case that such a product goes into the ERP system. And this is correct from an operations point of view. However, at a later stage, the process of enriching the product card with technical information, marketing, SEO, images, videos, etc. begins. It all depends on where and how it is to be sold. Unfortunately, but ERP systems are not built to accept and manage this data. PIM systems come to the rescue.
PIM
A PIM (Product Information Management) system is a class of systems that are designed to organise product information, the processes surrounding the creation and editing of product data and its distribution across channels.
An important issue is the content architecture, which in ERP systems is usually flat, while in PIMs it is characterised by a high degree of flexibility. Phrases in the data structure, are not unusual for a PIM. And for ERP they can already be a hindrance.
When does a PIM make sense?
A common question that comes up in implementation meetings is when is a good time to implement a PIM? Or what kind of organisation should carry out such an implementation?
The typical myth is that only the largest companies should have a PIM to manage product data. Well, we are encountering a really big simplification of work and reduction of the time it takes to release a product for sale also for companies that do not have huge catalogues.
However, these are situations where the product is sold in many markets or the product information goes out to many places. With large product catalogues, or when multiple people are working on product information, we recommend PIM. Always.
What does PIM give realistically?
In telegraphic terms, the REAL value of implementing PIM encapsulates in a few points:
- a very hygienic process for handling product information.
- A structured content architecture, processes.
- Fewer people have to work on keeping product information up to date.
- Faster product to market (time to market). Much faster.
- Excellent ability to collaborate on product data (technical people, translators, graphic agencies, content enhancers and content approvers). Everyone works in one place. Information does not get lost in email threads.
6 More effective sharing of product data. To online shops, to marketplaces, to partners, to price comparison sites, etc.
Is PIM the only example of Master Data?
It is not only in the area of product data that companies have a challenge with so-called Master Data. It is also customer data, content, media (images, videos, PDF documents). Correspondingly, each use case has its own dedicated tools and standards that make working with this information easier and better.
You organise customer data in CDP (Customer Data Platform). Content in CMS, media in DAM (Digital Asset Management). Each of these platforms gives you a leap in operations. Each of these platforms is a separate implementation. But it is worth it.