Product Data Lake is the new solution to sharing product information between trading partners. While we see many viable in-house solutions to Product Information Management (PIM), there is a need for a solution to exchange product information within cross company supply chains between manufacturers, distributors and retailers.
Completeness of product information is a huge issue for self-service sales approaches as seen in ecommerce. 81 % of e-shoppers will leave a webshop with lacking product information. The root cause of missing product information is often an ineffective cross company data supply chain, where exchange of product data is based on sending spreadsheets back and forth via email or based on biased solutions as PIM Supplier Portals.
However, due to the volume of product data, the velocity required to get data through and the variety of product data needed today, these solutions are in no way adequate or will work for everyone. Having a not working environment for cross company product data exchange is hindering true digital transformation at many organizations within trade.
As a Product Information Management professional or as a vendor company in this space, you can help manufacturers, distributors and retailers in being successful with product information completeness by becoming a Product Data Lake ambassador.
The Product Data Lake encompasses some of the most pressing issues in world-wide sharing of product data:
- You can use the same standard or not as examined in the post Approaches to Sharing Product Information in Business Ecosystems
- You may cover all cultures as told in the post Multi-Lingual Capabilities in Product Information Management
- You will involve and serve all nodes in a supply chain as shown in the post What a PIM-2-PIM Solution Looks Like
The first forward looking professionals and vendors in the Product Information Management realm have already joined. I would love to see you as well as our next ambassador.
Interested? Get in contact: