Product Information Management

What is product information management?

Product information management (PIM), also known as product content management, is the process of collecting, managing, enriching, and distributing product information across multiple sales and marketing channels. It is often done with a specialized PIM system that can collect product data from various sources to create a single source of truth for all product-related information and facilitate data enrichment and syndication.h

Although product information is sometimes referred to as product data, product information management is not the same as product data management, as the latter focuses on technical data related to product development rather than marketing.

What challenges does PIM help to solve?

The goal of PIM is to address the challenges and problems that arise from the complexity and scale of managing product information in modern business environments, such as:

  • Difficulty in managing large volumes of product information by hand.
  • Fragmented and inconsistent product data stored in multiple systems and databases.
  • Difficulty in maintaining data accuracy, completeness, and consistency.
  • Time-consuming manual data entry work that is prone to human errors.
  • Inability to update and synchronize product information across different channels.
  • Lack of centralized control and ownership over product data.
  • Inefficient collaboration and communication among teams responsible for product information management.
  • Challenges in mapping and transforming product data to meet the requirements of different sales and marketing channels.
  • Limited ability to provide comprehensive and up-to-date product information to customers in a timely manner.
  • Poor customer experience and lost sales due to inaccurate or incomplete product information.

Is PIM the same as MDM?

When it comes to data management, Master Data Management (MDM) has always thought by many companies as a similar concept to Product Information Management. However, they have distinct differences that set them apart.

MDM encompasses the management of all types of master data, which are critical data entities that are shared across different systems and departments, including product information, customer data, supplier data, and more, within an organization. PIM, on the other hand, focuses exclusively on product information. As such, a PIM system will contain specialized features not found in an MDM system, like product enrichment and product syndication.

However, both PIM and MDM can be combined to create a more comprehensive and integrated data management strategy. By integrating PIM into an MDM framework, companies can leverage the benefits of centralized master data management while specifically addressing the unique challenges and requirements of managing product information, allowing for a holistic and synchronized approach to data management.

Learn more about Product Information Management

  1. What is PIM: A Definitive Guide
  2. PIM vs MDM: A Comprehensive Comparison