Main Features of Product Information Management

Product information management

The use of technology influences how people sell and purchase products and services in the market. Most retailers are taking advantage of online platforms to sell their goods and services. Product information management is one of the most recent innovations that aim to increase sales for any retailer. Product Information management, or PIM, is a computer application used to maintain and centralize and distribute information concerning a particular product on all selling channels. Leading brands use to assist in distributing, consolidating, and analyzing product information. Business owners are becoming aware of the vital features of the best system for their products. As a product manager, one cannot ignore the importance of these critical features in business development. Their role helps to achieve the goals and objectives of any business. Before purchasing the perfect software for your brand, it is essential to look for the following features to help product management.

1. Product Data Analytics

PIM provides a platform to store information about all products sold by the company in a centralized place. Good software should have an inbuilt analytical tool to help analyze and aggregate all data about a specific product. Such information includes the number of people looking for the product, the number of views, and the number of times a client adds the item into the shopping cart. A good system will display the information in a well-organized and straightforward platform. Most of these systems work in real-time hence one can see a clear view of what is happening. It will allow you as a retailer to classify the product into different groups and monitor their performance in the market. This information helps to develop sound decisions that will help grow the business and increase profit margins.

2. Bulk Editing and Advanced Filtering

Editing information about a particular product is one of the most time-consuming tasks in every business. It is essential to find a good system that allows employees to perform bulk editing within a short period. It will help save time and provide correct information to your clients. Bulk editing helps a company to remain consistent, especially if a product undergoes any changes or rebranding process. A good product information system stores all the data in one central place to allow cumulative editing capabilities. It saves you time that one would waste visiting each channel to edit the information about a particular product or service. Some systems allow staff to make edits directly from the product overview. It will enable them to select multiple products, select the attribute to change, and input the new value. The system also allows you to filter information about a particular product. Good Product information software will make it easy for you to find specific information about a specific product. The filtering tool allows you to display information about a particular product based on different attributes.

3. Product Relationships and Custom User Roles

A good application will allow you to set up connections between different products to manage products more conveniently. The relationship feature enables you to connect different products regardless of how complex the catalog might be. It is essential to learn these relationships since it can help you monitor purchasing trends of different products. A good system also allows authorized employees to access information on any product at any given time. Providing permission to every employee can be time-consuming; hence a PIM system with custom user roles makes it easy to assign different access levels to each employee. It allows you to save a significant amount of time that you can utilize in promoting the business.

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