10 December 2014

No one knows what customers expects in the future…

When you make a platform choice in the world of acronyms like PIM or MDM, I believe that you should seek to minimize your exposure to risk, and maximize the gains (create better product stories and customer experiences) for your organization. We all know that implementing large and comprehensive multi-domain platforms are always tightly linked with corresponding large risks. You can never 100% control the risks involved with implementing new platforms, but by choosing an agile, purpose-built, best-of-breed platform, you will probably minimize your exposure to the unknown risks when moving forward. You will have your agile solution faster in place, and will be much quicker in re-evaluating it and adjusting it to new market demands or to new requirements within your organization.

The only time a large multi-domain platform looks superb is on the whiteboard in the planning phase or the pre-planning phase, because you will be drawn in by the seemingly simple and false notion of having everything in one solution that handles every aspect of our business. The illusion of not needing other solutions since there is always a module and no requirements for integrations may seem comfortable. But moving into a real implementation with real requirements, and entering the real world of unknown risks that the best analytics did not know two months ago, will probably give you an extreme headache. Trying to adjust, or being agile with a large multi-domain platform will always be harder, because changing a tightly interdependent system influences all aspects of the platform and will require significantly more work than a purpose-built independent system.

“Everything is fine today, that’s our illusion”
                                                            - Voltaire

“To improve is to change; to be perfect is to change often”
                                                                      - Winston Churchill

To minimize your exposure to risks and maximize your organization’s gains, be on a flexible purpose-built platform.

-- Jimmy Ekbäck, CTO --

03 December 2014

Summary of: Polishing Up Your Products — Why PIM Really Matters

Polishing Up Your Products — Why PIM Really Matters
Telling A Consistent And Engaging Product Story Is Imperative
by Peter Sheldon
with Zia Daniell Wigder, Michele Goetz, and Rebecca Katz
summery written by Henrik Béen, CPO inRiver AB

In his latest report Forrester analyst Peter Sheldon gives his view on “why PIM really matters” and the positive effects it has on Retailer’s sales. Recent Forrester research shows that 71% of all US online shoppers actively research product information online to help them make better purchase considerations. This of course puts pressure on the retailers to provide customers with rich, relevant, and consistent product information in all channels where they what to be present. Forrester concludes:

“For decades, product data has been the lifeblood of many large enterprises. Now, in the age of the customer, eBusiness leaders and marketers are critically reliant not only on their product data, but on curated product content to provide differentiated digital experiences. Key to this objective is telling engaging stories about the products being sold; however, many online retailers, brands and industrial manufacturers lack effective tools to streamline the product content creation process needed to efficiently create high quality, consistent product content. This report explores the role that product information management (PIM) systems have to play in telling compelling and contextual product stories, the primary drivers behind the investment in these systems and the steps necessary to steer clear of the hurdles that all too often derail these programs.”

Peter Sheldon means that PIM (Product Information Management) should be seen as the “gestation engine” where products are fully enriched and where they mature to be marketed and sold. With no proper PIM strategy and without governance and control, it is very likely that you end up having a “product horror story”. In his report he highlights some key benefits from deploying a PIM system in the organization. According to Peter, with a PIM system and process in place these companies can:

·         Easily locate product information
·         Trust the information and content they do find
·         Ensure consistency across channels
·         Scale their product assortment
·         Support their product assortment
·         Support increasingly demanding channel distribution partners
·         Meet product launch deadlines

Get the full report here:

Also, you can watch a recorded webinar on the subject given by Peter Sheldon: http://inriver.com/product/resources/inriver-webinar-feat.-forrester-behind-every-product-theres-a-story-to-be-told/