In control of your product data?
For most businesses product data are an essential consideration. The complex life cycle of products directs them through many hands, each with their own function and knowledge of each individual product. This means that product data is being produced by many different people, and it is not unusual that the product data is spread internally in the company at different digital and physical locations. Many companies regularly update their product data, sometimes several times a week – either as a result of additions, or changes. This setup makes it difficult to gather product data across different areas of competencies.
A lot of companies are familiar with the issue, and suffers from the large amounts of resources that are used on a daily basis to maintain, collect and distribute product data into relevant channels. This can cause up to 30% of expired data, long time-to-market and grey hair on your co-workers responsible for collecting data for different purposes. Usually these issues are dealt with through a number of manual time demanding processes for storing and updating product data, which will result in higher expenses and waste of talented employees’ competencies. In addition to this, many companies will chose to limit the amount of product data, as a way of saving resources and expenses – a questionable strategy in a world, where consumers become more and more attentive toward product information and details.