Stibo Systems has been providing product information management (PIM) software for decades. Its work has helped many organizations worldwide take control of their product information by developing a master definition that can be published across many channels from Web to digital to print. We recognized its work with customers Delta Faucet and Masco Corp. in our 2015 Ventana Research Leadership Award in Information Management. In 2014 Stibo Systems customer Brady Corp. won a similar award for Information Optimization. I have made it clear that in our view, when it comes to use all kinds of product content and data in business processes, product information management trumps master data management. Delivering value to business with PIM is much different than managing data infrastructure with MDM. There has been much angst in varying industry analyst views on this market segment. We analyze and rate vendors more rigorously than analyst firms that look at them only through an IT lens. Our methodology and framework put business first and IT second, and that shapes how we score vendors in PIM, MDM and other aspects of the software industry.
Topics: Master Data Management, Sales Performance, Supply Chain Performance, MDM, Mobile Technology, PIM, Stibo Systems, Customer Performance, Operational Performance, Business Performance, Cloud Computing, Financial Performance, Information Management, Business Performance Management (BPM), Financial Performance Management (FPM), Information Optimization, Product Information Management
This has been a dramatic year for Informatica, a major provider of data integration software. In August it was acquired and taken private by Permira funds and Canada Pension Plan Investment Board for about US$5.3 billion. This change was accompanied by shifts in its management. CEO Sohaib Abbasi became chairman and now has left, and many executives were replaced while Anil Chakravathy became CEO from being the Chief Product Officer. The new owners appear to have shifted the company’s strategic priorities to emphasize profitability with reduced headcount and return on the purchase investment. Despite these changes, during the past six months Informatica has made key product announcements that will impact its future and the future of data management.
Topics: Big Data, Data Quality, Master Data Management, MDM, Operational Performance Management (OPM), Cloud Computing, Data Integration, Data Management, Data Preparation, Governance, Risk & Compliance (GRC), Informatica, Information Management, Business Performance Management (BPM), Information Optimization, Risk & Compliance (GRC)
The importance of product information management (PIM) has become clear in recent years and especially as it relates to master data management. As I recently wrote handling this business process effectively and using capable software should be priorities for any organization in marketing and selling its products and services but also interconnecting the distributed supply chain. Our research on product information management can help organizations save time and resources in efforts to ensure that product information is an asset to facilitate efficiency in many business processes. Through years of benchmarking, we have developed a blueprint for managing and improving product information. Using this approach enables companies to more effectively align and link their activities and processes. Of course achieving effectiveness also requires using applications that create consistent, reliable product information. We regularly update our Value Index for PIM to enable companies to evaluate vendors and their applications’ suitability for use in all business processes requiring product information.
Topics: Big Data, Master Data Management, Sales Performance, Supply Chain Performance, Enterworks, Marketing, Operational Performance Management (OPM), Stibo Systems, Webon, Business Performance, CIO, Financial Performance, IBM, Informatica, Information Management, Oracle, Information Optimization, Product Information Management, Riversand
Ventana Research defines product information management (PIM) as the practice of using information, applications and other technology to effectively support product-related processes across the customer, commerce and supply chain. As organizations increase the number and diversity of products and services they offer to customers and partners, they increasingly need to address limitations in the ways they manage and distribute product information, including related attributes and content that describes the products. At the same time, competitive pressures require them to be able to incorporate large amounts of new content – video and images, for example – quickly while ensuring that the information presented to customers is accurate, operational processes run uninterrupted and timely data is available for business analysis. In an environment in which consumers, suppliers and partners use multiple channels to get to product information – including websites, kiosks, smartphones and tablets – it is essential that the organization always be able to present complete and up-to-date product information to inspire interest and facilitate purchases.
Topics: Big Data, Master Data Management, Supply Chain Performance, Governance, Marketing, Operational Performance Management (OPM), CIO, Information Management, Business Performance Management (BPM), Financial Performance Management (FPM), Information Optimization, Product Information Management, Sales Performance Management (SPM)
Organizations today create and collect data at ever faster rates, and this introduces challenges in ensuring that data is not just managed but used in a consistent manner for a range of operational and analytic tasks. This is made more difficult by new data sources whose definitions vary from standard and widely used formats. Making all information available and consistent is essential to support business processes and decision-making. A key technology tool for this effort is master data management (MDM). Every business area needs MDM, whether it deals with customers, products, employees, finance or others individually or collectively in what is called multidomain MDM. It is an essential tool for data governance across an organization, which has become a focal point for improvement as many organizations spend significant time in data-related tasks. Our benchmark research on information optimization shows that preparing data for analysis (47%) and reviewing data for quality and consistency issues (45%) are the two information tasks that consume the most time. Properly used MDM enables data stewards and other IT professionals to improve the consistency and quality of departmental and enterprise data.
Topics: Data Quality, Master Data Management, Sales Performance, Social Media, Supply Chain Performance, Golden Records., MDM, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Customer & Contact Center, Data Management, Financial Performance, Information Applications, Information Management, Workforce Performance