How the Covid-19 Outbreak Can Change Data Management

From sitting at home these are my thoughts about how data management can be changed due to the current outbreak of the Covid-19 (Corona) virus and the longer-term behaviour impact after the pandemic hopefully will be over.

Ecommerce Will Grow Faster

Both households and organizations are buying more online and this trend is increasing due to the urge of keeping a distance between humans. The data management discipline that underpins well executed ecommerce is Product Information Management (PIM). We will see more organizations implementing PIM solutions and we must see more effective and less time-consuming ways of implementing PIM solutions.

Data Governance Should Mature Faster

The data governance discipline has until now been quite immature and data governance activities have been characterized by an endless row of offline meetings. As data governance is an imperative in PIM and any other data management quest, we must shape data governance frameworks that are more ready to use, and we must have online learning resources available for both professionals and participating knowledge workers with various roles.

Data Sharing Could Develop Faster

People, organizations and countries initially act in a selfish manner during a crisis, but we must realize that collaboration including data sharing is the only way forward. Hopefully we will see more widespread data sharing enterprise wide as this will ease remote working. Also, we could see increasing interenterprise (business ecosystem wide) data sharing which in particular will ease PIM implementations through automated Product Data Syndication (PDS).

Covid Data Management

Product Data Lake is going to the next level

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The path ahead

Until now my venture called Product Data Lake has been a rather technical quest. As with most start-ups the first years have been around building the actual software (in our case facilitated by Larion Computing in Vietnam), adjusting the market fit and run numerous trials with interested parties.

Now it is time to go to market for real. I am happy that another Henrik has joined as CEO and will emphasize on leading the marketing, sales and financial activities.

While I will be concentrating on the product strategy and product management activities it is time to recap the business outcomes we want our subscribers and partners to achieve. Let me express those towards three kinds of business partners:

Manufacturers and brand owners:

On the upstream side of Product Data Lake our goal is to let you as a manufacturer and/or brand owner:

  • Sell more: Your re-sellers will have the most complete, accurate and timely product information in front of their customers.
  • Reduce costs: Push your product information in one uniform way and let your re-sellers pull it in their many ways.

Our concept, using emerging technologies within Product Data Lake, will free you from applying many different solutions to providing product information to your re-sellers. You will avoid errors. You will be able to automate the processes and you will be easy to do business with in the eyes of your trading partners.

The people who will use your products want to get complete product information when making the buying decision wherever they are in the supply chain.

You can follow the news stream for this on our LinkedIn showcase page called Product Data Push.

Merchants (dealers and retailers):

On the downstream side of Product Data Lake our goal is to let you as a merchant (dealer or retailer) gain substantial business outcome.

  • You will sell more by having the most complete, accurate and timely product information in front of your online customers when they make self-service buying decisions.
  • You will reduce costs as you can pull product information in one uniform way and let your suppliers push it in their many ways. Hereby you can automate the processes, avoid errors and reduce product returns.

Our solution, using emerging technologies within Product Data Lake, will make you be easy to do business with in the eyes of your suppliers and make your product information transform into a powerful weapon in the quest for winning more online market share.

The people who may buy your product range deserves to know all about it and wants to get that information when making the buying decision. Remember: 81 % of visitors will leave a web-shop with incomplete product information.

You can follow the news stream for this on our LinkedIn showcase page called Product Data Pull.

Technology and service partners:

Ambassadors at Product Data Lake can sign up subscribers, assisting these subscribers in uploading their relevant product information portfolio to Product Data Lake and assisting these subscribers in linking their product information with the product information at their trading partners. As an ambassador, you will:

  • Have the opportunity to work with a big data solution within Product Information Management.
  • Have the opportunity to make data mapping and/or data integration services and cross-sell of other services for subscribers in a whole supply ecosystem.
  • Get 25 % kickback on new subscriptions in a potentially exponentially growing subscriber base in supply ecosystems

As Reservoir you can bring new life into product data portals and pools. Product Data Lake is a unique opportunity for service providers with product data portfolios for utilizing modern data management technology and offer a comprehensive way of linking, collecting and distributing product data within the business processes used by subscribers. Signing up as reservoir is free.

The linking theme also related to applying artificial intelligence / machine learning to mapping between the different product information taxonomies in use at trading partners, where we collaborate with business partners who provide such capabilities.

You can follow the news stream for this on our LinkedIn showcase page called Product Data Link.

Good to have Agility Multichannel on the Disruptive MDM / PIM List

The latest entry on The Disruptive List of Master Data Management Solutions is Agility Multichannel, who provides a well proven Product Information Management (PIM) solution for marketers to acquire, enrich and deliver accurate and timely product content through every touchpoint, channel and region along with the analytical support required to maximize effectiveness in the market.

Recently Agility Multichannel was acquired by Magnitude Software and is thus a part of a broader software offering alongside with the Magnitude MDM solution which was previously known as Kalido.

Agility is close to me as Agility was one of the first forward looking MDM and PIM market players to join as ambassador at Product Data Lake.

You can learn more about the Agility Multichannel solution here.

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Where to Buy a Magic Wand?

Sometimes you may get the impression that sales, including online sales, is driven by extremely smart sales and marketing people targeting simple-minded customers.

Let us look at an example with selling a product online. Below are two approaches:

Magic wand

Bigger picture is available here.

My take is that the data rich approach is much more effective than the alternative (but sadly often used one). Some proof is delivered in the post Ecommerce Su…ffers without Data Quality.

In many industries, the merchant who will cash in on the sale will be the one having the best and most stringent data, because this serves the overwhelming majority of buying power, who do not want to be told what to buy, but what they are buying.

So, pretending to be an extremely smart data management expert, I will argue that you can monetize on product data by having the most complete, timely, consistent, conform and accurate product information in front of your customers. This approach is further explained in the piece about Product Data Lake.

Spreadsheets, Business Process Re-engineering and Robots

Product information is the data a potential buyer of a product needs to make a purchasing decision. Today purchasing is more and more made by self-services as in e-commerce. The product information is usually obtained through a supply chain between trading partners stretching from the manufacturer to the end merchant.

The most common way of exchanging product information between trading partners is using spreadsheets. Spreadsheets are marvellous, because you can do almost anything you want with them. However, spreadsheets are also horrendous, because you can do almost anything you want with them. Therefore, trading partners are often stuck with manual, cumbersome and error prone processes on both the providing and receiving end.

At Product Data Lake we have developed a new mechanism that enables a whole new process for exchanging product information between trading partners. We have kept the flexibility of spreadsheets when it comes to choosing the data standards on the providing and receiving end but at the same time introduced automation and correctness when it comes to transferring, translating and transforming the data.

When telling about our service I am often asked if we have a nice feature for on-boarding spreadsheets. We don’t. Because the process is designed to omit the spreadsheets and transfer directly from the providers in-house product information data store(s) to the receiving in-house product information data store.

RobotThis reminds me of when we talk about using robots to substitute human labor. Then we often think about a machine that looks like a human. But effective industrial robots do not look like humans. They a designed to do a specific process much more effective than a human and will therefore not look like a human. The same is true in digitalization. When we redesign business processes to be much more effective they should not include spreadsheets.

5 Product Data Levels to Consider

When talking about Product Master Data Management (Product MDM) Product Information Management (PIM) I like to divide the different kinds of product data into the schema below:

Five levels

Level 1, Basic Data

At the first level, we find the basic product data that typically is the minimum required for creating a product in any system of record.

Here we find the primary product identification number or code that is the internal key to all other product data structures and transactions related to the product within an organization.

Then there usually is a short product description. This description helps internal employees identifying a product and distinguishing that product from other products. Most often the product is named in the official language of the company.

If an upstream trading partner produces the product, we may find the identification of that supplier here too. If the product is part of internal production, we may have a material type telling about if it is a raw material, semi-finished product, finished good or packing material.

Level 2, Trading Data

The second level has product data related to trading the product. We may have a unique Global Trade Item Number (GTIN) that may be in the form of an International – former European – Article Number (EAN) or a Universal Product Code (UPC). Here we have commodity codes and a lot of other product data that supports buying, receiving, selling and delivering the product.

Level 3, Recognition Data

On the third level, we find the two basic pieces of product information that came to existence when we started producing product catalogues and had the first ecommerce solutions online.

The extended product description is needed because the usual short product description used internally have no meaning to an outsider as told in the post Customer Friendly Product Master Data. Some good best practices for governing the extended product description is to have a common structure of how the description is written, not to use abbreviations and to have a strict vocabulary as reported in the post Toilet Seats and Data Quality.

We often see that the extended product descriptions need to be present in the range of languages covering the locations where business is done either if the business is international or done in a country with multiple countries. The trend of increased user customization (or should I say customisation) drives this point further.

Having a product image is pivotal if you want to sell something without showing the real product face-to-face with the customer or other end user. A missing product image is a sign of a broken business process for collecting product data as pondered in the post Image Coming Soon.

Level 4, Self-service Data

At the fourth level, we have three main sorts of product information: Product attributes, basic product relations and standard digital assets. These data supports when customers makes buying decisions within eCommerce and other self-service scenarios.

Product attributes are also sometimes called product properties or product features. These are up to thousands of different data elements that describes a product. Some are very common for most products like height, length, weight and colour. Some are very specific to the product category. This challenge is the reason of being for dedicated Product Information Management (PIM) solutions as told in the post MDM Tools Revealed.

Basic product relations are the links between a product and other products like a product that have several different accessories that goes with the product or a product being a successor of another now decommissioned product. Product relations is described further in the post Related Products: The Often Overlooked Facet of PIM.

Standard digital assets are documents like installation guides, line drawings and data sheets as examined in the post Digital Assets and Product MDM.

Level 5, Competitive Data

As the fifth level we find elements like on the fourth level, but usually these are elements that you won’t necessarily apply to all products but only to your top products where you want to stand out from the crowd and distance yourself from your competitors. If you are a reseller, you typically make these data yourself, where level 4 hard facts are delivered from the manufacturer, as examined in the post Using Internal and External Product Information to Win.

Special content are descriptions of and stories about the product above the hard features. Here you tell about why the product is better than other products and in which circumstances the product can to be used. A common aim with these descriptions is also Search Engine Optimization.

X-sell (cross-sell) and up-sell product relations applies to your particular mix of products and may be made subjective as for example to look at up-sell from a profit margin point of view. X-sell and up-sell relations may be defined from upstream by you or your upstream trading partners but also dripping down on the roof from the behaviour of your downstream trading partners / customers as manifested in the classic webshop message: “Those who bought product A also bought / looked at product B”.

Advanced digital assets are broader and more lively material than the hard fact line drawings and other documents. Increasingly newer digital media types as video are used for this purpose.

Product Classification, Product Pricing and Product Lifecycle Status

All of the above-mentioned levels of product information is supported by product classification. Usually we see product classification handled as a reference data type across Product Information Management (PIM), ERP and Product Lifecycle Management (PLM) where applicable.

Product pricing is usually also a subject mainly belonging to the ERP side of things.

Product Lifecycle Status again goes across Product Information Management (PIM), ERP and not at least Product Lifecycle Management (PLM) where applicable.

Master Data Management (MDM) is the discipline that connects the dots between these topics.

Take the processes to next level:

You can take your Product Information Management (PIM) and Product Master Data Management (Product MDM) to a higher level by following the processes as described in the post Using Pull or Push to Get to the Next Level in Product Information Management.

Merchants vs Manufacturers in the Information Age

Merchants sells the goods produced by manufacturers. In that game merchants and manufacturers are basically allies. Then of course the merchant’s profit may depend on the margin he can get between the manufacturers price to him and the merchant’s price to his customer. In that game, merchants and manufacturers are kind of enemies.

When it comes to providing product information to the end customers, merchants and manufacturers are allies too. The more complete product information placed in front of the end customer, the better. This is increasingly important today with more and more goods sold in self-service scenarios as in ecommerce.

standoffBut again, there seems to be an enemy angle here too. Who should have the burden of lifting product information as the manufacturers have it to the way it is presented at the point-of-sales provided by the merchant? Often this seems to be stalled in a standoff as described in the post Passive vs Active Product Information Exchange.

At Product Data Lake we offer merchants and manufacturers an honorable way out of this standoff:

Will You Successfully Defend Your Business against Invading Spreadsheets?

When we at Product Data Lake are exhibiting on trade shows (yes, we sadly are that old school, sometimes), we have a computer game called PDL Invaders. The game is built over the legendary computer game called Space Invaders. In our version, you use the PDL spaceship to shoot down invading spreadsheets and emails.

TFM16The purpose of the game is to emphasize one of the main reasons of being for Product Data Lake. We want to replace the use of spreadsheets for exchanging product information in cross company supply chains with our automated cloud service.

Spreadsheets is the most common tool to directly exchange product information between trading partners today. The typical scenario is that a receiver of product information, being a downstream distributor, retailer or large end user, will have a spreadsheet for each product group that is emailed to be filled by each supplier each time a new range of products is to be on-boarded (and potentially each time you need a new piece of information). As a provider of product information, being a manufacturer or upstream distributor, you will receive a different spreadsheet to be filled from each trading partner each time you are to deliver a new range of products (and potentially each time they need a new piece of information).

Customer data portals is a concept a provider of product information may have, plan to have or dream about. The idea is that each downstream trading partner can go to your customer data portal, structured in your way and format, when they need product information from you. Your trading partner will then only have to deal with your customer data portal – and the crowd of other customer data portals in their supplier range. Add to that, that spreadsheets is the “natural” tool to download data from such a portal.

Supplier data portals is a concept a receiver of product information may have, plan to have or dream about. The idea is that each upstream trading partner can go to your supplier data portal, structured in your way and format, when they have to deliver product information to you. Your trading partner will then only have to deal with your supplier data portal – and the heaps of other supplier data portals in their business-to-business customer range. Add to that, that spreadsheets is the “natural” tool to upload data to such a portal.

Product Data Lake is the sound alternative to the above options. Hailstorms of spreadsheets does not work.

Follow us on LinkedIn and get up to date information about when the PDL Invaders game will be close to you. Our company page is here.