5 Significant PIM Product Information Management Trends to Look Out for in 2018
It requires absolutely no proof that,
the way pim
product information management provides itself to business enterprises in
quest for smarter and flexible solutions to manage business functions, data and
customers, is just second to none. However, today, the interaction has transformed
considerably.
The question which now doing the
rounds amongst the business enterprises is, whether the company PIM software
you have chosen is actually leveraging your customer experience or productivity?
Few factors which have stayed constant in the changing sands of PIM are:-
- Product life-cycle is inseparably connected with the product data.
- Significance of having a centralized product data management system is now evident for the new-age business enterprises.
- Business enterprises are aware about the fact that nobody values their product data more than their customers.
Let’s explore PIM trends a bit
further, to understand which of its aspects will be the front-runners in the
year 2018.
Explore the 5 Vital PIM
Trends to Look Out for in 2018:
It is excellent to have a pim
product information management solution in place, but business enterprises have
to now look beyond that. Your company’s massive PIM solution must have a strong
API that can drive your massive product information towards the right format for
serving web applications and the key receivers of the data, similarly. All this
will lead to a product information network, wherein your massive product data
will get shared. While the product data distribution across networks is not a new
thing, but 2018 will witness a renaissance of all sorts. Bridging PIM solutions
with the web can offer business enterprises a massive competitive edge over
their competitors through delivering them the power to drive their data
wherever required, right away. With the advancement of the Internet of Things
(IoT) and linked devices, the product data ecosystem will become much more intricate,
therefore the requirement for product content hubs is going to rise.
The customer is the hinge around which all gyrates
and they feel even more empowered now. They are carrying out a comprehensive
research to stumble on the answers to their questions, and are on the verge to fetch
all the details regarding whatever they need. Companies that have so far abstained
from implementing a PIM strategy will find themselves at the other end of this brand
new power structure. Before this happens, it is highly recommended to know what
PIM
software can do for your company. It has massive potential to write your
omni-channel success story, but can significantly trim down your sales and
customer service costs.
PIM solutions can knock
down the silos, improve efficiency and constancy, will also help in strategic
product management process. It assists the companies to scrutinize your
offering’s real-time market performance. This will help you find out where your
buyers exactly are, so that you can lift up your obtainment initiatives or
optimize buying. For making the strategic decision-making possible, it is very important
to have the best PIM
solution which can help you see your product data like never before.
Real-time analysis of the important product data can give you a business
process management edge and help your company in product data strategic
planning.
Customization
has acquired huge significance amongst the new-age business enterprises, which
is about delivering your customers everything handily, anytime anywhere. To get
to the peak of customer experience, the smartest incorporation of technology customization
is required. The “buy online, pick up in store” (BOPUS) experience that is expected
the next big thing in the digital retail, is important. As an integral
component of the omni-channel experience, BOPUS basically means that customers can
pick a product online, but adore the alternative of visiting the store to choose
according to their needs and satisfaction. For BOPUS to function in the right
manner, it is very important that PIM functions in the right manner that
includes stock. PIM product
information management solutions will ensure flexibility, constancy and accuracy,
but will also act in response to the closeness connected with the whole online
and in-store experience package.
Business enterprises have already witnessed the
extensive adoption of pim
product information management. However, today companies desire going one
step further. They need 24x7, 365 days a year, access to the cloud-based product
data. Brands require the power to handle content instantly by themselves
through vendor portal tools. They do not have to rely on slow updates through
vendors they have outsourced to. Today the new-age business enterprises require
the right technology that can offer them with excellent usability, handy access
and personal assistance by the PIM solutions providers, anywhere anytime.
Besides that, the existing omni-channel powered landscape, syndication has now
garnered massive significance, as different parts of the content are dispersed
to different retailers, channels or search engines. High-value product
information should be delivered to all sorts of data consumers in real time to provide
right, targeted and ideally reliable brand messaging.
Modern-age companies have now realized
that no one solution has the power to decide the intricate challenges they encounter.
They have taken to product information management as not merely a set of tools,
but the business philosophy relies uniformly on the culture and policies of the
companies. They have also acknowledged that customer-facing data is as vital as
the data accessed through company employees that use this information.
2018 will primarily concentrate on the pim
product information management implementation, wherein omni-channel,
consolidation and digitalization enablement for PIM will be the top priority, apart
from a steady focus on amplifying alliance and competence.
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