Solving Data Silo Headaches with MDM and PIM

by Francine Harris | April 30, 2018 | Blog

Whether you’re a company of 500 or 5000, we’ll wager that you’ve experienced the challenges of work related silos and their inevitable issues on the company’s people and processes.  Leaders are focused on their specific agendas, various groups form in isolation and little information is shared.  There’s little incentive to collaborate or team for any large corporate initiative, resulting in poor performance and missed opportunities.

And while the people and processes suffer, so too, does a company’s data.  Let’s use retailers and suppliers as an example.  Consider the amount of product content that exists and you’ll see that one group owns branding, mobile or desktop, and perhaps another will own product specs or nutritional info.  So, if these mini silos aren’t talking, the data (product information) will not be optimized nor fully accurate.

Then consider a typical buyer’s journey – the customer gets a bird’s eye view of the data inconsistencies whether it’s in store, in print, on the website or the mobile app.  Bottom line?  Poor customer experience, inefficient processes and incomplete customer insight.  The solution of course is a complete and centralized database (master data management {MDM}) to manage all your product information for all channels to keep it up to date and accurate.

A successful Multi-domain MDM will empower an organization to use a single application to define, manage, govern and synchronize any domain of master data in their business processes. Ideally, the solution will include out-of-the-box features that enable best practices for data consolidation, data quality, data enrichment, data governance and data synchronization.

MDM solution is not one that is just designed for the present, it is one that is purposefully designed to adapt to the changing needs of the future. In a rapidly evolving technological age, adopting this strategy just makes sense to achieve long-term success – and the long-term dismantling of data silos. Whether you build, buy or use SaaS in the cloud, you must automate product information management with MDM/PIM. Innovit makes it easy to incorporate the new technology that can take your company to the next level.

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