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The implementation of large IT projects, particularly in the area of product data management, is associated with both opportunities and risks for many companies. This includes a wide variety of considerations and business models as well as the creation of an IT infrastructure that takes account of the fast pace of e-commerce. Sooner or later, however, all topics in Commerce come together at one point, namely in the processing of article data and its further use. After all, article data is the basis for all business processes in a retail company.
On the one hand, there is the complexity that goes hand in hand with the initial creation of articles, the preparation and the display of product data. On the other hand, different teams need to be involved in digitization efforts. How can companies best implement digitization efforts and what constitutes successful project management? We spoke about this with marketplace and e-commerce specialist Nadine Schindler, who has successfully implemented major IT projects for GALERIA Karstadt Kaufhof and hagebau, among others. In this exciting talk, she talks about the biggest challenges and opportunities that she has mastered in the e-commerce market over the last 12 years.
With increasing pressure, triggered by growing customer expectations and market conditions, retail companies must quickly, purposefully and comprehensively look for new ways to sustainably digitalize their own processes. This means creating an efficient, scalable and robust e-commerce system landscape that significantly reduces manual effort, achieves a higher conversion rate and thus leads to more sales and a better relationship with customers. These large IT projects need to be implemented in a well thought-out manner because, as with all large projects, these projects present both challenges and opportunities.
Awareness of the importance of product data management has increased in recent years. There are several reasons for this, but above all, retail companies need to be able to sell more products faster via a wide variety of channels and are therefore dependent on very good, e-commerce-ready product data. Another point is that new technologies need to be used profitably, but these are all based on solid and, above all, very good product data management.
Companies must always ask themselves how they want to set up and align their digital business. After all, not every business model requires the same technological prerequisites. Here, too, it is fundamentally important to ask yourself what product data management looks like. Do you source products from third parties? If so, how does the product data need to be prepared and what quality requirements do the various sales channels defined in the business case have? This shows that, in addition to a clear vision, you also need a catalog of requirements that deals intensively with article data management.
Hardly any other market environment changes as quickly as that of retail companies. New players appear and others disappear again. Major topics such as marketplace and omni-channel business models place huge demands on IT and everyone who works in retail companies. So when new projects involving artificial intelligence, better personalization and other major upheavals in the retail environment are initiated, employees need to be involved and taken along on the journey.
It is therefore clear that it is not only technological change that needs to be closely monitored and understood, but also how the people who deal intensively with these technologies and work in this highly competitive market every day with a great deal of expert knowledge can be integrated. Article data is the basis for all business processes in a retail company, but it is people who keep these processes running. We would like to thank Nadine Schindler for the exciting Expert Talk and look forward to the next one!
