This week I had the pleasure of attending the 2009 IM conference in Toronto presented by Adastra. The day was filled with information sessions, buffet style dining, and networking sessions. Attendees ranged from executives to IT managers to IT practitioners including some of the main players in the financial, insurance, telecom, retail, healthcare, pharmaceuticals and government. Topics revolved around BI trends, DW, BAM, MDM, PIM and others.

However, with all acronyms flying around, a common message is delivered - technology is evolving fast and more and more data management is becoming the core differentiator between the good and the best. Today, data is being pushed to the front lines of the business (tellers, CSRs, call centre, etc.) but even as we speak, companies are driving initiatives to get information in the hands of the customer with the goals of helping the end user make better decisions. Those companies that not only provide data beyond the front lines of business but also provide up-to-date information are those that will continue to maintain a competitive advantage and market share.  Ultimately the majority of users using company data should be users that are not employed by the company. A great example of this today is Walmart - with more people accessing and using Walmart data and technologies who are non-employees then employees. From suppliers to consumers, in some form or another, are using Walmart data to make better decisions. 

When it comes to product information, PIM technology is doing exactly that. It provides for a system to easily communicate product information most efficiently and effectively to those who need it most – the customer.  Companies are keeping with this trend using PIM to produce print catalogues and flyers more frequently (with minimal cost), updating webshops instantly, communicating customer-specific e-catalogues, and taking advantage of new sales channels.  Furthermore, there is also a movement in ‘Supplier Adoption’ services that eliminates the task of acquiring data from suppliers with a main purpose – to improve data quality and maintain up-to-date information.  One of my favourite quotes below best describes this current information trend;

 
"We deal in MRO, but our customers primarily expect detailed product descriptions and technical details", explains Bruce Loken, Product Data Management Director at Fastenal. "As a result, we are increasingly developing into an information broker. This means that we deal in product information", says Mr. Loken.

Consider including tools such as PIM in your top 3 to-do list.

Visit www.adastracorp.com for information on other business information technologies.
Visit www.heiler.com for informaiton on PIM and product communication.