Mastering Product Data: A Guide to Effective Product Information Management

 


Quadrant Knowledge Solution defines Product Information Management (PIM) as a tool facilitating the collection, storage, management, and enrichment of intricate product data. This solution integrates product master data, establishes and oversees a centralized database system, provides a comprehensive data view, and ensures data quality and compliance through monitoring and corrective actions. PIM solutions empower organizations to aggregate, manage, enrich, and disseminate product information across diverse channels, supporting multichannel marketing and sales strategies. The collaborative nature of these solutions enables teams to consistently synchronize and update information across channels to uphold product, data, and content quality.

The increasing adoption of Product Information Management (PIM) solutions has led to a transformation in their role. Initially focused on addressing the manual challenges of gathering, organizing, and enhancing product data, PIM products now tackle a range of business hurdles. These include managing extensive and intricate product catalogs, ensuring data quality to enhance customer experiences across various channels, and navigating global commerce complexities like language, currency, and distribution channels.

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Key questions this study will answer:

·       What is the current state of competition in the Product Information Management (PIM) market?

·       What is the market share held by major vendors in this market?

·       What are key competitive dynamics of in the global and regional markets for Product Information Management (PIM)?

·       Who are the leading vendors in the global and regional markets?

·       Are there vendors specializing in specific industries?

·       How do different vendors compare in terms of their offerings of cloud-based versus on-premises solutions?

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Vendors covered in this study:

Akeneo, Bluestone, Censhare, Contentserv, IBM, InRiver, Informatica, Pimberly, Pimcore, Precisely Enterworks, Salsify, Saleslayer, Stibo System, Syndigo, Truecommerce, Viamedici, and Vinculum.

In the era of digital transformation, businesses have access to numerous touchpoints and channels for their product catalogs. However, the availability of precise product information is crucial for meeting their needs promptly. Consequently, brands and retailers are increasingly turning to PIM products.

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