Mens Et Opera - Reloaded

This is a second round of a series of posts regarding the difference between PIM and MDM. In the first installment , I briefly highlighted the “functional” differences by emphasizing the consolidation of data (e.g. create the golden record, identity resolution, data quality, etc.) across the enterprise to feed transactional systems with “good” data as the primary target of MDM initiatives while PIM fills the need to author product-related commercial data to feed customer touch-points  such as catalogs, web shops, and so forth. Granted, very high level strokes but I reckon a good beginning for a marketing-free conversation about PIM and MDM. In fact, I want to start this second round with a note of appreciation. I really like Michele Goetz’s MDM and PIM insights over her blog at Forrester (great name, no relation and much better looking!) Now, the same Michele Goetz recently posted a brief piece to introduce the new Forrester report about PIM . Michele aptly points out th...

I recently came across an interesting executive summary of a report conducted by Capgemini involving 62 global leading online retail and consumer products (CP) companies in the grocery category (it’s a bit dated but I think still pertinent). The aim of the research was to “evaluate how visible and consumer driven the product data is in retailers’ and CP companies’ digital channels.” The research finds that in many cases the “digital product information provided to shoppers is inaccurate, incomplete or missing entirely” which doesn’t perfectly square with the need for rich consumer-oriented product data, driven by the explosion of digital channels. According to the report, the key step to provide better information and enhance the dialogue with shoppers is to “improve the visibility of product data in digital channels.” This resonates with me greatly. However, the question is “how?” That is: How to make product content relevant and consistent* across all channels?   The fol...

According to the authors, convergence is the key to reaching customers in the new world of digital communication. If you are like me interested in how digital innovation is transforming businesses at their core, this book is for you.    Convergence is all about breaking down silos to build a more cohesive organisation to respond to the exigencies of the new and empowered customer. The authors make a strong argument against the traditional way of structuring marketing, technology, and creativity.  They no longer must be separate worlds, speaking different languages, using different kinds of talent. For businesses to succeed today, this has to change. Their argument revolves around five fundamental principles: 1.   Customer centricity. Instead of paying lip service to it, the authors actually point out that customer-centricity inevitably lead to disruption. Most organizations are beholden to some age-old organizational chart and not structured around th...

OK there is a big difference between MDM and PIM. Apparently not everyone agrees.  Regardless, things can become even more confusing when analysts, vendors, consultants, and academics all give you their perspective on what MDM and/or PIM really is. I know it’s hard to sort through it. But let’s try to keep it very simple. Note 1 : my apology to the experts to leave out important aspects Note 2 : I took inspiration for the example below by reading "Master Data Management", written by the well-respected David Loshin. Now, take the following transaction from a generic order fulfillment system: I am sure you have identified the three master data domains in this transaction: Customer: Michele M. Arpaia Product: Seat 15B (what about Flight 238?) Location: Sydney, SYD, Melbourne, MEL Can you see the beauty of MDM? Ideally, every transaction (occurring everywhere in your organization) relies on accurate, consistent, fresh, and complete master d...

Jorij Abraham is the founder of the E-commerce Foundation, a non-profit organization dedicated to helping organizations and industries improve their e-commerce activities. He advises companies on e-commerce strategy, Omnichannel development and product information management. He also works as Director Research & Advise for Ecommerce Europe. He's written a fine book about PIM but don't expect a technical book at all! This is what marketing teams, merchandisers, product category teams, digital strategist, should be reading. Like him or not, when he talks you’d better listen! Michele: Let's start with a view on the PIM market. Where are we globally? Jorij: We are just starting. Most retailers still do not realize how important product information is to sell digital. In some countries the expectation is that in 2020 30 - 50% of all consumer goods are bought online. PIM no longer is an option. It is essential to be successful in 2020. M.: What was the main...

This is a guest post by Chris Jobse of Eperium Business Solution ( http://www.eperium.com/ ). He is a senior PIM architect advising customers to organize their data in the most efficient way to serve their eCommerce goals . The management of correct and detailed product information is becoming increasingly important for many companies. The volume of information is growing, the number of products increasing, the products are sold in more countries and laws and legislation impose demands on the product information. Implementing a PIM (Product Information Management) system is more frequently becoming a strategic choice. Why one PIM system is more expensive than the other is a question that is frequently raised. Understandably, after all suppliers state that they manage product information and this is certainly so in all cases. There are big differences among the various PIM systems. The differences are mainly in the underlying technology, the functionality set and la...

I recently had a chance to briefly speak with Adam Jacobs, MD and founder of The Iconic .  He’s a young and bullish entrepreneur who is doing a great job at cracking the serfdom of Australian shoppers created by the likes of David Jones and Myer. I asked him how he manages his “free three-hour same day delivery” service for those products that are on demand, i.e. not physically stored in the warehouse but still available on the website. I admit the question was thought-provoking because it brings up one of the challenges retailers face when they have a drop shipping program in place. But what's drop-shipping anyway? Imagine the possibilities for retailers to display a product on their digital channels without having it in their inventory. Exciting? Welcome to drop shipping! What has it got to do with The Long Tail? For those who have missed out the debate on ‘the long tail’, this is my capsule summary: retailers can grow sales in two ways, a) selling fewer popul...

How to help senior management understand the Web and adapt the business, culture, teams and workflows accordingly? No fluff, no theory — just techniques and strategies that worked in practice, and showed results.  This is the brilliance of Boag’s book. I normally find myself skimming business and marketing books, gleaning what I need. But I couldn't just glance at this one. Paul’s book  comes at a great time for me. I am staggered by the number of times I come across extremely obvious cases where a better digital adaptation would bring about superior customer satisfaction and brand loyalty. You see companies still battle with Omni-channel, in-store wi-fi, personalized product information, poor mobile presence, etc. One can think of these issues as just technical inefficiencies that will soon or later be overcome. Here is where Paul hits hard. He argues, that the Digital is fundamentally a cultural change. The hierarchical structure of (large) organisations doesn't si...

The newsletter I publish every month is actually a 4-page flyer with unique content to subscribers. I would like to invite you to subscribe. Or at least try it for few months and see whether it aligns with the world you are in now. Coming soon for all subscribers: White Paper -   Speaking to the C-suite about PIM What’s at the top of the C-level agenda and how PIM added value aligns to strategic vision. The form is on your right. Thank you. Michele

Hunter Valley, Australia Back from a fantastic 3-day event about online retail here in Australia. I wish I had the time to write an account of what I've learned, people I've met, and more importantly the great wine I tasted :-) One keynote session that I attended to was presented by a PIM vendor. I found it fine and informative. I also very much welcomed the effort of not mentioning the capabilities of their product and all the fluffy spin that you generally hear from vendors. Chapeau! However, in a split second she deftly found the opportunity to recommend retailers to forget the long tail and focus on the ‘head’. It is this focus on the head, the argument goes, that gives you a solid foundation to sell more. I have two problems with this argument but first of all, I'd encourage you to read what I wrote about the long tail here and here . In addition to that, I also have some reservations about the long tail strategy but they are of a completely different nature...