Why You Need a PIM to Make and Keep Your Data Clean
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The document highlights the importance of Product Information Management (PIM) systems in maintaining clean and accurate product data, noting that only 3% of companies' data meets basic quality standards. It outlines steps for implementation, including data cleaning, structuring the PIM according to needs, and encouraging user adoption, while emphasizing the need for a combined PIM and Digital Asset Management (DAM) solution. Clean data is shown to drive sales and increase market share through better product presentation and customer engagement.
Why You Need a PIM to Make and Keep Your Data Clean
- 1. WHY YOU NEED A PIM TO MAKE AND KEEP YOUR DATA CLEAN PRODUCT INFORMATION MANAGEMENT BY CATSY
- 2. BASIC QUALITY STANDARDS • “ONLY 3% OF COMPANIES’ DATA MEETS BASIC QUALITY STANDARDS.” -THE HARVARD BUSINESS REVIEW • WHAT ARE BASIC QUALITY STANDARDS? • QUALITY DATA IN COMBINATION CREATE AN INFORMATIONAL PICTURE THAT IS: • EASY TO UNDERSTAND • ACCURATE • COMPLETE • SIMPLY: DATA MUST BE FREE OF ERROR ©2019 CATSY. All rights reserved. 2
- 3. CAUSES OF LOW QUALITY DATA • STORING KEY DATA IN MULTIPLE FILES • SIMPLY STORING FILES ON A CENTRAL SERVER WON’T FIX THIS KEY PROBLEM • USING A CENTRAL MASTER FILE • USERS ARE UNLIKELY TO MAKE SURE TO REPLACE OUT-OF-DATE DATA WHEN THE FILE IS UPDATED • OLD DATA NOT BEING DELETED • ESPECIALLY WITH DIGITAL ASSETS, USERS LIKE WHAT THEY ARE USED TO USING • DIFFERENT REQUIRED VERSIONS OF DATA • DATA MUST VARY ACCORDING TO SPECIFICATIONS ACROSS CHANNELS ©2019 CATSY. All rights reserved. 3
- 4. HOW A PIM MAKES AND KEEPS YOUR DATA CLEAN • A PIM FUNCTIONS AS A DATABASE FOR THE STORAGE OF ALL PRODUCT DATA • PRODUCT INFORMATION MANAGEMENT (PIM) SYSTEM • TRADITIONALLY ONLY SOLVE HALF THE PROBLEM • DIGITAL ASSET MANAGEMENT (DAM) SYSTEM • A CENTRAL REPOSITORY FOR IMAGES, VIDEOS, AND CAD DRAWINGS • TO KEEP YOUR DATA CLEAN, IMPLEMENTATION OF A PIM + DAM SOLUTION IS YOUR BEST BET ©2019 CATSY. All rights reserved. 4
- 5. STEP 1: CLEAN YOUR DATA • WORK CLOSELY WITH YOUR VENDOR TO DRIVE A QUALITY IMPLEMENTATION • THIS WILL SET THE FOUNDATION FOR SUCCESS • POOR IMPLEMENTATION IS LIKELY TO LEAD TO POOR FUNCTIONING • GATHER DATA AND ASSETS AND SEND THEM TO YOUR VENDOR FOR REVIEW • LEVERAGE THE IMPLEMENTATION TEAM’S EXPERIENCE • OBTAIN ADVICE ABOUT BEST PRACTICES ONCE YOUR PIM IS ROLLED OUT ©2019 CATSY. All rights reserved. 5
- 6. STEP 2: STRUCTURE YOUR PIM TO FIT YOUR NEEDS • KEY COMPONENTS FOR CONFIGURATION • PRODUCT ATTRIBUTES • ORGANIZE THE DATA POINTS THAT CREATE VARIATION IN YOUR PRODUCTS • ATTRIBUTE SETS • GROUP SIMILAR ATTRIBUTES TOGETHER AND SAVE TIME ROLLING OUT NEW PRODUCTS • TAXONOMY/CATEGORIZATION • CREATE A STRONG TAXONOMY SPECIFICALLY DESIGNED TO SERVE YOUR PRODUCTS • USER ROLES • ENSURE PRODUCT AND ATTRIBUTE OWNERS CONTROL INPUTTING, MODIFYING, AND DELETING DATA ©2019 CATSY. All rights reserved. 6
- 7. STEP 3: ADOPTION BY YOUR TEAM • PIM CREATES A SINGLE SOURCE OF TRUTH FOR YOUR PRODUCT CONTENT • CONVINCE YOUR TEAMS THIS CHANGE IS FOR THE BETTER • HOWEVER: USERS ARE VERY OFTEN ADVERSE TO CHANGE • MITIGATE RESISTANCE • DEMONSTRATE THE EASE OF USING PIM • TRADITIONAL PIMS WERE OVERLY COMPLICATED • PIM + DAM MUST BE SIMPLER TO USE THAN EXCEL SPREADSHEETS ©2019 CATSY. All rights reserved. 7
- 8. NOTIFICATIONS AND WORKFLOW • A FLEXIBLE AND ROBUST PIM ALLOWS YOU TO CREATE DIFFERENT WORKFLOWS • NEW PRODUCT INTRODUCTION • TIES YOUR TEAM TOGETHER ENSURING REQUIRED ATTRIBUTES ARE CREATED RIGHT THE FIRST TIME • CONTENT UPDATE WORKFLOW • TRACKS ALL CHANGES MADE BY USERS AND REQUIRES MANAGERIAL APPROVAL • WORKFLOW FOR PRODUCT SYNDICATION • USERS ARE NOTIFIED IN A SET SEQUENCE TO COMPLETE TASKS TO ENSURE EFFICIENCY ©2019 CATSY. All rights reserved. 8
- 9. CLEAN DATA DRIVES SALES AND INCREASES MARKET SHARE • ACCURATE, UP-TO-DATE DATA PRODUCES COMPELLING PRODUCT PAGES RESULTING IN: • MORE PAGE VIEWS • LOWER SHOPPING CART ABANDONMENT RATES • HIGHER CONVERSION RATES • MORE GOOD REVIEWS • FEWER NEGATIVE REVIEWS • HIGHER LIKELIHOOD OF WORD-OF-MOUTH SALES • ALL OF THESE ARE SALES DRIVERS AND MARKET SHARE EXPANDERS ©2019 CATSY. All rights reserved. 9
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