How can companies invest in a sustainable product experience and what constitutes successful data handling along the digital value chain? The goal of the Product Data Pilot Event in Munich, organized by our implementation partner hmmh, was to identify clear fields of action and orientation along the product data value chain.
Sustainable product data management is characterized by the fact that every stage through which product data must pass is taken into account. Thus, 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 clear today that the new retail reality must respond even more deeply to the needs of the clientele and that a modern IT infrastructure that can meet all requirements in both online and offline retail can only be mastered with various specialized software providers.
For many companies, it is therefore clear that the focus must be on brands and product groups that ensure profitability and market relevance. First, however, companies must find the most automated way possible to correctly read and prepare a large amount of product data from different sources in the target systems in the most cost- and resource-efficient way. The correct product data model (PDM), which defines how product data must be structured, plays a central role here. It also checks product data for completeness, availability, consistency and granularity. Only those who have a well thought-out PDM can take the appropriate data enrichment steps. This includes, among other things, automated text generation. Because only those who can offer product offerings with appealing descriptions will win in the highly competitive e-commerce market. Therefore, the better the product data, the better the product texts and thus the higher the sales.
The prepared product data is usually stored in a central location, namely the Product Information Management System (PIM). The PIM is of great importance for the management of product data and the associated assets. In addition, a PIM enables the targeted playout of offers on a wide variety of channels. The successful conclusion of the product data value chain is precisely this distribution phase. Here, the focus is on the distribution of product data to marketplaces, retailers or the company's own online stores. It is precisely these various well thought-out core processes that make up the sustainable and, above all, value-adding Product Data Value Chain.
If you want to significantly improve the quality of your product data and thus product data management, you have to take a close look at the completeness, availability, consistency and granularity of the product data in your company. Because only those who can make products available at the right time, correctly advertised, will win in the fast-moving online trade. But the appropriate product data quality is also essential for multichannel providers: Many people still shop at Commerce and are therefore receptive to really good, individual and customized print solutions.
The Product Data Pilots Roadshow by hmmh was able to clearly show that a modern e-commerce IT infrastructure can be thought through and only made possible 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 make a sustainable and well thought-out investment in its own product experience. Because a well thought-out product data management includes the most diverse stations and must be accompanied and thought through with a lot of expertise. You are welcome to make a note of the next event in Cologne.
