Blog
December 19, 2022
How can companies invest in a sustainable product experience, and what constitutes successful data handling along the digital value chain? The aim of the Product Data Pilot event in Munich, organized by our implementation partner hmmh, was to identify clear areas for action and orientation along the product data value chain.
Well-designed product data management
Sustainable product data management is characterized by the fact that all stages through which product data must pass are taken into account. The end-to-end process of the product data value chain begins with the onboarding of product data and ends with the successful sale of the desired items. It is now clear that the new retail reality must respond even more deeply to customer needs and that a modern IT infrastructure that can meet all requirements in both online and offline retail can only be mastered with the help of various specialized software providers.
For many companies, it is therefore clear that the focus must be placed on brands and product groups that ensure profitability and market relevance. First, however, companies must find a way to automatically import and process large amounts of product data from different sources into the target systems as cost- and resource-efficiently as possible. This is where the right product data model (PDM), which defines how product data must be structured, plays a central role. It also checks product data for completeness, availability, consistency, and granularity. Only those who have a well-designed PDM can take the appropriate data enrichment steps. This includes, among other things, automated text generation. Only those who can offer appealing product descriptions will succeed in the highly competitive e-commerce market. This is another reason why the better the product data, the better the product texts and, consequently, the higher the sales.
The processed product data is usually stored in a central location, namely the Product Information Management System (PIM). The PIM is extremely important for managing product data and the associated assets. In addition, a PIM enables the targeted display of offers on a wide variety of channels. This distribution phase is the successful conclusion of the product data value chain. The focus here is on transferring product data to marketplaces, retailers, or your own online shops. It is these various well-thought-out core processes that make up the sustainable and, above all, value-adding product data value chain.
Investing sustainably in the product experience
Anyone who wants to significantly improve their product data quality and thus their product data management must take a close look at the completeness, availability, consistency, and granularity of product data within their company. After all, only those who can advertise products correctly and make them available at the right time will succeed in the fast-paced world of online retail. But the right product data quality is also essential for multichannel providers: many people still shop in brick-and-mortar stores and are therefore receptive to really good, individual, and tailor-made print solutions.
The Product Data Pilots Roadshow by hmmh clearly demonstrated that a modern e-commerce IT infrastructure must be well thought out and can only be achieved with various targeted and highly specialized software solutions. The Product Data Value Chain Roadshow is the place to be for any company that wants to invest sustainably and thoughtfully in its own product experience. This is because well-thought-out product data management involves a wide variety of stages and must be accompanied and conceived with a great deal of expertise. You are welcome to make a note of the next event in Cologne.