So, you already have a Master Data Management (MDM) or Product Information Management (PIM) system. You’re probably wondering whether you need the other as well or if you’d just be buying the same product with different branding. Today we’ll look at the differences between MDM and PIM and how they complement each other.
Master Data Management
An MDM system handles the base of all of your high-value data. A successful MDM will be able to ensure all of your employees are using the most up to date information available for any decision they have to make. It can come in the form of your web designers looking at which pages your customers spend the most time on so they can replicate that design on other pages to your sales staff finding every interaction a prospect has had with your company so they can close a new deal.
An MDM system can also help you aggregate all of your data to aid in making high level decisions about the direction your company should move in. You can pull reports on all aspects of your company to really dig into what is working and what isn’t. This can help pull key insights like shipments from one of your warehouses consistently being late or one of your suppliers slowly raising their prices on you.
Product Information Management
Essentially, PIM should be nested within your MDM system. With your PIM nested within your MDM system you can pull up any information stored in your PIM through your MDM reporting.
So, why bother with a PIM system? A PIM system will save you money, time, and give you better data to work with. By having a system dedicated to your product data, it makes this vital dataset easier to manage.
A PIM manages all data related to your products. By having all of this data readily available in a subsection of your master data, your team will easily be able to find any information they are looking for. Keeping this data set by itself will also ensure your team isn’t working with bad or dated data.
By utilizing a PIM system you will always be able to be sure your products are being accurately advertised across all of your channels. This will unify all of your advertising so you are pushing a singular image that your audience can connect with whether they’re on FaceBook, Instagram, Amazon, or any other channel your company uses.
While PIM and MDM are heavily related, they’re not the same. If you have difficulty managing your data to make data-driven decisions implementing both a PIM and MDM system will clean all of this up. They will feed off each other to ensure your brand is unified no matter where your customers see your branding.