PRODUCT INFORMATION MANAGEMENT MEANS MANAGING THE INFORMATION REQUIRED RO MARKET AND SELL PRODUCTS
Product Information Management (PIM) is a set of processes and tools
that centralize and manage an e-commerce business’ product information to ensure a single, accurate view of product data. PIM offers a centralized platform to, cost-effectively; manage data on an ecommerce business’ products and services.
PIM facilitates the maintenance of consistent and quality product data
and information. The biggest difference between PIM and thematicallysimilar Catalog Management software is that PIM is more allencompassing and goes beyond just data enrichment.
PIM collects data from multiple data sources and formats and combines
them into a single source of master data, has the ability to identify and fix problematic data, and pushes data out to all desired distribution channels. PIM can also integrate with software like catalog management, business process management, and data quality.
Product information management (PIM) means managing the information
required to market and sell products through distribution channels. A central set of product data can be used to feed information to media such as web sites, print catalogs, ERP systems, and electronic data feeds to trading partners.
Product information management generally needs to support multiple
geographic locations, multi-lingual data, and maintenance and modification of product information within a centralized catalog. Information kept by a business can be scattered throughout departments and held by employees or systems, instead of being available centrally; data may be saved in various formats, or only be available in hard copy form.
Information may be needed for detailed product descriptions with prices,
or calculating freight costs. PIM represents a solution for centralized, mediaindependent data maintenance, as well as efficient data collection, management, refinement and output.
To ensure that monetizing instruments are used correctly, it is
important to being able to raise the most amount of capital.
This way the investments of private companies will grow which will
cause some of the securities to be removed from the market.
Once the debt is successfully changed to hard cash for individuals or
companies, monetizing happens.
It is important to keep in mind that money is not the only thing that can
be monetized.
To qualify for inclusion in the PIM category, a product must: Collect and unify product information from various, separate files into
one source Identify and fix problematic or inconsistent data Automate data and e-commerce business processes Have a working search bar or filtering function Have an effective search engine Create and manage categories to organize products Push products/information out to retail, social media, marketing, or
sales channels
PIM systems consolidate all product information onto a single
platform. In terms of company IT infrastructure, this means having a PIM platform running over alongside a database with an application server, and/or XML-based exchange of product information.
This forms a foundation upon which to build sales and procurement
business processes.
With PIM solutions, access[1] and user authorizations for all database
information, ordering processes linked with inventory management systems and the mechanisms for modular expansions are managed via a web-based administration interface.