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Why You Need a PIM to Make and Keep Your Data Clean

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The Harvard Business Review reports less than 3% of company data meets their loosest definition of basic quality standards. Learn how a product information management (PIM) solution that incorporates digital asset management (DAM), like Catsy's, will not only clean up your data, but keep it that way, so you can build market share and increase revenue today.

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Why You Need a PIM to Make and Keep Your Data Clean

  1. 1. WHY YOU NEED A PIM TO MAKE AND KEEP YOUR DATA CLEAN PRODUCT INFORMATION MANAGEMENT BY CATSY
  2. 2. BASIC QUALITY STANDARDS • “ONLY 3% OF COMPANIES’ DATA MEETS BASIC QUALITY STANDARDS.” -THE HARVARD BUSINESS REVIEW • WHAT ARE BASIC QUALITY STANDARDS? • QUALITY DATA IN COMBINATION CREATE AN INFORMATIONAL PICTURE THAT IS: • EASY TO UNDERSTAND • ACCURATE • COMPLETE • SIMPLY: DATA MUST BE FREE OF ERROR ©2019 CATSY. All rights reserved. 2
  3. 3. CAUSES OF LOW QUALITY DATA • STORING KEY DATA IN MULTIPLE FILES • SIMPLY STORING FILES ON A CENTRAL SERVER WON’T FIX THIS KEY PROBLEM • USING A CENTRAL MASTER FILE • USERS ARE UNLIKELY TO MAKE SURE TO REPLACE OUT-OF-DATE DATA WHEN THE FILE IS UPDATED • OLD DATA NOT BEING DELETED • ESPECIALLY WITH DIGITAL ASSETS, USERS LIKE WHAT THEY ARE USED TO USING • DIFFERENT REQUIRED VERSIONS OF DATA • DATA MUST VARY ACCORDING TO SPECIFICATIONS ACROSS CHANNELS ©2019 CATSY. All rights reserved. 3
  4. 4. HOW A PIM MAKES AND KEEPS YOUR DATA CLEAN • A PIM FUNCTIONS AS A DATABASE FOR THE STORAGE OF ALL PRODUCT DATA • PRODUCT INFORMATION MANAGEMENT (PIM) SYSTEM • TRADITIONALLY ONLY SOLVE HALF THE PROBLEM • DIGITAL ASSET MANAGEMENT (DAM) SYSTEM • A CENTRAL REPOSITORY FOR IMAGES, VIDEOS, AND CAD DRAWINGS • TO KEEP YOUR DATA CLEAN, IMPLEMENTATION OF A PIM + DAM SOLUTION IS YOUR BEST BET ©2019 CATSY. All rights reserved. 4
  5. 5. STEP 1: CLEAN YOUR DATA • WORK CLOSELY WITH YOUR VENDOR TO DRIVE A QUALITY IMPLEMENTATION • THIS WILL SET THE FOUNDATION FOR SUCCESS • POOR IMPLEMENTATION IS LIKELY TO LEAD TO POOR FUNCTIONING • GATHER DATA AND ASSETS AND SEND THEM TO YOUR VENDOR FOR REVIEW • LEVERAGE THE IMPLEMENTATION TEAM’S EXPERIENCE • OBTAIN ADVICE ABOUT BEST PRACTICES ONCE YOUR PIM IS ROLLED OUT ©2019 CATSY. All rights reserved. 5
  6. 6. STEP 2: STRUCTURE YOUR PIM TO FIT YOUR NEEDS • KEY COMPONENTS FOR CONFIGURATION • PRODUCT ATTRIBUTES • ORGANIZE THE DATA POINTS THAT CREATE VARIATION IN YOUR PRODUCTS • ATTRIBUTE SETS • GROUP SIMILAR ATTRIBUTES TOGETHER AND SAVE TIME ROLLING OUT NEW PRODUCTS • TAXONOMY/CATEGORIZATION • CREATE A STRONG TAXONOMY SPECIFICALLY DESIGNED TO SERVE YOUR PRODUCTS • USER ROLES • ENSURE PRODUCT AND ATTRIBUTE OWNERS CONTROL INPUTTING, MODIFYING, AND DELETING DATA ©2019 CATSY. All rights reserved. 6
  7. 7. STEP 3: ADOPTION BY YOUR TEAM • PIM CREATES A SINGLE SOURCE OF TRUTH FOR YOUR PRODUCT CONTENT • CONVINCE YOUR TEAMS THIS CHANGE IS FOR THE BETTER • HOWEVER: USERS ARE VERY OFTEN ADVERSE TO CHANGE • MITIGATE RESISTANCE • DEMONSTRATE THE EASE OF USING PIM • TRADITIONAL PIMS WERE OVERLY COMPLICATED • PIM + DAM MUST BE SIMPLER TO USE THAN EXCEL SPREADSHEETS ©2019 CATSY. All rights reserved. 7
  8. 8. NOTIFICATIONS AND WORKFLOW • A FLEXIBLE AND ROBUST PIM ALLOWS YOU TO CREATE DIFFERENT WORKFLOWS • NEW PRODUCT INTRODUCTION • TIES YOUR TEAM TOGETHER ENSURING REQUIRED ATTRIBUTES ARE CREATED RIGHT THE FIRST TIME • CONTENT UPDATE WORKFLOW • TRACKS ALL CHANGES MADE BY USERS AND REQUIRES MANAGERIAL APPROVAL • WORKFLOW FOR PRODUCT SYNDICATION • USERS ARE NOTIFIED IN A SET SEQUENCE TO COMPLETE TASKS TO ENSURE EFFICIENCY ©2019 CATSY. All rights reserved. 8
  9. 9. CLEAN DATA DRIVES SALES AND INCREASES MARKET SHARE • ACCURATE, UP-TO-DATE DATA PRODUCES COMPELLING PRODUCT PAGES RESULTING IN: • MORE PAGE VIEWS • LOWER SHOPPING CART ABANDONMENT RATES • HIGHER CONVERSION RATES • MORE GOOD REVIEWS • FEWER NEGATIVE REVIEWS • HIGHER LIKELIHOOD OF WORD-OF-MOUTH SALES • ALL OF THESE ARE SALES DRIVERS AND MARKET SHARE EXPANDERS ©2019 CATSY. All rights reserved. 9
  10. 10. CLICK TO SEE WHAT CATSY CAN DO FOR YOU TODAY THANK YOU

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