Deep Dive into Product Information Management: Key Features, Benefits, and Best Practices

 


Quadrant Knowledge Solutions defines a Product Information Management (PIM) system as a tool that helps collect, store, manage, and enhance complex product data. This solution integrates product master data, creates and maintains a centralized database system, provides a comprehensive view of data, and supports data quality and compliance through monitoring and corrective actions.

PIM solutions enable organizations to aggregate, manage, govern, enrich, and distribute product information across various channels to support multichannel marketing and sales strategies. This collaborative end-to-end solution allows relevant teams to consistently synchronize and update information across different channels, ensuring high-quality product data and content.

A modern PIM system is essential for any digital commerce strategy, helping both B2B and B2C organizations enhance their end-to-end customer journey. It allows organizations to aggregate, enrich, and distribute product data across multiple touchpoints, channels, and distribution networks.

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Key questions this study addresses include:

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

·       What market share do major vendors hold?

·       What are the key competitive dynamics in the global and regional PIM markets?

·       Who are the leading vendors globally and regionally?

·       Are there vendors specializing in specific industries?

·       How do different vendors compare regarding their cloud-based versus on-premises solutions?

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Strategic Market Direction:

Additionally, it enables organizations to create compelling product stories and experiences using customer insights. As online transactions, touchpoints, and channels continue to grow, adopting PIM systems helps organizations consistently deliver accurate product information across various or new channels.

The digital transformation has enabled businesses to access multiple touchpoints and channels to source their catalogs, but having precise product information allows them to meet their needs more efficiently. Consequently, brands and retailers are increasingly prioritizing the adoption of PIM 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.

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