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Ventana Research Unveils Market Research into Next-Generation Product Information Management

New benchmark research to examine how to maximize potential of products for customers and suppliers

Bend, OR / Apr 13, 2016 3:00:00 AM / by Ventana Research

Ventana Research today launched its latest market research study, The Next Generation of Product Information Management (PIM). This benchmark research is designed to examine organizations’ existing and planned approaches to PIM in order to identify best practices and steps for driving improvement, focusing on lessons learned in the last two years and particularly plans for today and the near future.

PIM is a technology and business process that enables organizations to automatically produce a complete, reliable view of all products including definition and any type of attribute, without forcing every department and business unit to use the same application or format.

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The research will assess challenges associated with PIM deployment, including how trends such as online channel development, global supply chains, B2B and supplier integration, electronic commerce and customer experience, operational process integration and XML standards are impacting PIM implementations.

This benchmark research by Ventana Research will quantify awareness and rates of adoption of this new generation of product information management software. It research will explore organizations’ experiences and issues they have faced in efforts to align business and IT resources and spending with organizational information management objectives. Those efforts often require the integration of supplier and customer information, increased use of online channels and synchronization of updates to product information across global markets.

Growing online competition puts pressure on organizations to synchronize updates to product information across multiple channels and make it available directly to ensure that all sources of the information agree. PIM today also relies on new cloud-based interchanges as well as industry standards such as GDSN and GS1 and data transformation services to replace systems and routines based on older, more proprietary standards and manual code. Some organizations are implementing MDM to improve management of cross-functional data requirements. These PIM options make it possible for organizations to more flexibly make changes as needed throughout the information supply chain.

“Forward-looking organizations are deploying PIM processes and technologies to establish product information that is complete, relevant, dynamic and constantly available,” said Mark Smith, CEO and chief research officer. “These enable a unified approach to product information across marketing, sales, electronic commerce, manufacturing, the supply chain and B2B to ensure the business processes are streamlined, a benefit not available from traditional IT-centric MDM approaches. Organizations that do not take a business centric-approach to PIM will be at a competitive disadvantage as they will face increased time, resource and cost demands to operate their efforts. This new research will explore how organizations are dealing with these challenges and what PIM options they are choosing.”

This benchmark research by Ventana Research will provide a detailed picture of the current state and future direction of the use of product information management in organizations. It will also examine the opportunities to use PIM and supporting technologies, among them content management, digital asset and integration technologies, as well as the process of operating PIM software in cloud-based environments and the information interactions through collaborative and mobile technologies. It will also examine differences in responses by industry, by company, and revenue size.

Those interested in learning more about or participating in this benchmark research can do so at http://www.ventanaresearch.com/pim/. Ventana Research provides qualified research participants with an incentive and complimentary report of the research findings as well as access to a free educational webcast on best practices from the benchmark research.

About Ventana Research

Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.

Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook and LinkedIn. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.

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