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

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.

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:

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:

Learn more about Product Data Lake here.