The number of companies paying attention to data management is exploding. They know data management is a key to success and a quick way to lead your industry into the 21st century. According to Statista, in 2018 half of business owners stated they intend to use data integration. Product Information Management (PIM) is what all your other data integrations will be connected to. So, here are the 5 reasons you should pay attention to PIM:
- Better Coordination of all Digital Assets:
In order to deliver a consistent brand message, you need to be sure all of your digital assets are properly displayed across all of your products. When a product doesn’t have the appropriate digital assets displayed it leads to customer confusion, lost potential revenue, and returns. Implementing a PIM system with and integrated Digital Asset Management (DAM) will ensure your digital assets are displayed properly across all of your advertising channels.
- Easier Master Data Management (MDM):
Having a PIM system with an MDM system provides an easier integration and a fail-safe for bad data. A PIM system will make implementing MDM easier and quicker. Through your PIM, you will already have most of the information you need to create a robust MDM system in the right format.
A PIM also creates a fail-safe to your MDM system. If something goes wrong or some bad data gets inputted into your MDM, you can always fall back on your PIM to figure out what information is correct and where it should go.
- Use PIM To Improve Employee Efficiency:
Implementing a PIM will enhance the efficiency of both you and your workforce. By eliminating a lot of the mindless data entry tasks associated with releasing a new product, you will leave your staff with more time to focus on the tasks that actually affect your bottom line.
- PIM Can Improve Conversions:
By tracking consumer behavior associated with different content you can pull valuable information from your PIM to increase your conversions. With a system that has an intuitive interface, you will be able to effectively look through large sets of data. With this data you can pull meaningful insights on what is truly creating sales and what is turning away potential customers.
- Use PIM To Ensure Compliance:
PIM makes it easy to ensure you are remaining compliant with all industry and government regulations while reducing liabilities. You can incorporate everything you need to include in all advertising channels to avoid liabilities and maintain compliance right within your PIM. This will ensure that anyone in your organization has immediate access to everything they need to know prior to releasing content about your products.