Providing 10 Business Benefits for Your PIM Clients

As a vendor of Product Information Management (PIM) solutions, a system integrator in the PIM and Master Data Mangement (MDM) market or a professional in other roles in these disciplines, you can provide a range of benefits to your clients by becoming a Product Data Lake ambassador.

Please find below the 10 business benefits your clients as an upstream provider of product information (manufacturer, brand owner or distributor) or a downstream receiver of product information (wholesaler, dealer or retailer) can achieve:

10 Business Benefits

By being a Product Data Lake ambassador you will support your clients in connecting with their trading partners no matter what data standard and exchange method their crowd of trading partners prefer.

Learn more about the why, what and how of becoming a Product Data Ambassador here.

Linked Product Data Quality

A lot of product data is already out there waiting to be found, categorized, matched and linked.

cropped-twoline-blue1.pngDoing this is at the core of the  Product Data Lake syndication solution for product information sharing in business ecosystems. What we aim to do is linking product information stored using different taxonomies at trading partners, preferable by referencing international and industry standards as eCl@ss, ETIM, UNSPSC, Harmonized System, GPC and more.

Our approach is not to reinvent the wheel, but to collaborate with partners in the industry. This include:

  • Experts within a type of product as building materials and sub-sectors in this industry, machinery, chemicals, automotive, furniture and home-ware, electronics, work clothes, fashion, books and other printed materials, food and beverage, pharmaceuticals and medical devices. You may be a specialist in certain standards for product data. As an ambassador you will link the taxonomy in use at two trading partners or within a larger business ecosystem.
  • Product data cleansing specialists who have proven track records in optimizing product master data and product information. As an ambassador you will prepare the product data portfolio at a trading partner and extend the service to other trading partners or within a larger business ecosystem.
  • System integrators who can integrate product data syndication flows into Product Information Management (PIM) and other solutions at trading partners and consult on the surrounding data quality and data governance issues. As an ambassador, you will enable the digital flow of product information between two trading partners or within a larger business ecosystem.
  • Tool vendors who can offer in-house Product Information Management (PIM) / Master Data Management (MDM) solutions or similar solutions in the ERP and Supply Chain Management (SCM) sphere. As an ambassador you will able to provide, supplement or replace customer data portals at manufacturers and supplier data portals at merchants and thus offer truly automated and interactive product data syndication functionality.
  • Technology providers with data governance solutions, data quality management solutions and Artificial Intelligence (AI) / machine learning capacities for classifying and linking product information to support the activities made by ambassadors and subscribers.
  • Reservoirs, as Product Data Lake is a unique opportunity for service providers with product data portfolios (data pools and data portals) for utilizing modern data management technology and offer a comprehensive way of collecting and distributing product data within the business processes used by subscribers.

Want to be part of this? Get in contact here:

 

Become a Product Data Lake Ambassador

Product Data Lake is the new solution to sharing product information between trading partners (Product Data Syndication). While we see many viable in-house solutions to Product Information Management (PIM), there is a need for a solution to exchange product information through the supply chain from manufacturers over distributors to merchants.

Completeness of product information is a huge issue for self-service sales approaches as seen in ecommerce. 81 % of e-shoppers will leave a webshop with lacking product information. The root cause of missing product information is often an ineffective cross company data supply chain, where exchange of product data is based on sending spreadsheets back and forth via email.

cropped-badgesmall.pngHowever, due to the volume of product data, the velocity required to get data through and the variety of product data needed today, this solution is in no way adequate. Having a not working environment for cross company product data exchange is hindering true digital transformation at many organizations within trade.

As a Product Information Management professional, service provider or as a vendor company in this space, you can help your clients in being successful with product information completeness by becoming a Product Data Lake ambassador.

The first forward looking professionals, service providers and vendors in the Product Information Management realm have already joined. We would love to see you as our next ambassador.

Product Data Syndication Freedom

When working with product data syndication in supply chains the big pain is that data standards in use and the preferred exchange methods differ between supply chain participants.

As a manufacturer you will have hundreds of re-sellers who probably have data standards different from you and most likely wants to exchange data in a different way than you do.

As a merchant you will have hundreds of suppliers who probably have data standards different from you and most likely wants to exchange data in a different way than you do.

The aim of our Product Data Lake service is to take that pain away from both the manufacturer side and the merchant side. We offer product data syndication freedom by letting manufacturers push product information using their data standards and their preferred exchange method and letting merchants pull product information using their data standards and their preferred exchange method.

Product Data Syndication

As a Product Data Lake ambassador you can help your clients being successful with the product data syndication part of Product Information Management (PIM).

Product Data Lake is also an unique opportunity for service providers with product data portfolios for utilizing modern data management technology and offer a comprehensive way of collecting and distributing product data within the business processes used by subscribers.

Learn more here.

 

How MDM, PIM and DAM Stick Together

When working with product data I usually put the data into this five level model:

Five levels

The model is explained in the post Five Product Data Levels.

A post by Simon Walker of Gartner, the analyst firm, outlines the possible system landscape encompassing Product Information Management (PIM), Master Data Management (MDM) and Digital Asset Management (DAM). The post is called Creating the 360-Degree view of Product.

MCM-v1.0-284x300

Simon defines these three kind of platforms for managing a 360 degree product data view:

  • MDM of product master data solutions help manage structured product data for enterprise operational and analytical use cases
  • PIM solutions help extend structured product data through the addition of rich product content for sales and marketing use cases
  • DAM solutions help users create and manage digital multimedia files for enterprise, sales and marketing use cases

These two models fit quite well together:

MDM PIM DAM.png

And oh, when it comes to creating a business ecosystem digital platform for exchanging product data with trading partners, the best model looks like this:

MDM PIM DAM PDL

Learn more about Product Data Lake here.