What is a PIM and why do you need it
Product Information Management (PIM) is a set of processes and tools that aggregate product master data into a single repository and allow this data to be transformed, personalized and syndicated to target recipients as useful ‘product information’ for e-commerce. The goal is to create an accurate view of product data that can be highly tailored to the needs of each distribution channel and target market. An effective PIM solution will provide consumers of product information with a consistent user experience, whether online, in print catalogs, or on store shelves.
PIM collects and unifies product data from multiple sources & formats, then combines them into a single trusted source of master data. These tools empower the data steward to manage product categorization (taxonomies), product attribution, data validation, and the formatting of catalogs that are highly personalized for consumers, or highly localized for distribution to a particular target market. PIM then automates these product data management activities to help accelerate e-commerce activities.
Product information delivers the highest value when personalized to the consumer’s need, and when localized for the target market consuming this information. Manufacturers, distributors and retailers that fail to provide product data that’s highly tailored to their customers will risk losing customers and revenue. PIM solutions help to solve the following problems:
- Personalization of product data for induvial target recipients and target markets
- Mange the variability of product data needs for different channels, target markets and trading partners
- Inaccurate, incomplete, inconsistent and outdated product data
- Manual and error-prone data maintenance processes
- Inaccurate and unreliable business analytics and reports