5 principles of good product information management.

Most companies have completely adjusted their data management processes by introducing new PIM systems and revitalizing their data analysis tools. All of this is done to understand changing market needs and/or customer preferences.

Here are the basic principles of a solid data management strategy that will help control costs, minimize risk and improve business performance:

• Create, maintain and deploy the best versions of data across the organization and external ecosystem.
• Create clear, holistic business views by consolidating, categorizing and synchronizing data across domains.
• Provide access to critical data in a secure and controlled manner.
• Distribute and distribute the right data in the right format to the right channel.
• Analyze patterns and trends using a data-driven approach to improve performance. 

Your data management strategy should focus on automated processes, especially updating records and cleaning up redundant data to ensure accuracy and compliance.

With frequent product data lifecycle checks, your company will always be able to get an up-to-date and consistent set of data. It is worth remembering that simply storing data is not enough to handle it properly. Giving data sets the right structure and hierarchy by consolidating them into a single source of truth plays a key role in the course of intelligent business processes.