The Power of Data in Digital Product Descriptions

Internet and web processes are playing an increasingly important role in product presentation and research, especially in sales. More than 30 percent of all orders and order procedures are already processed online – and the trend is still growing.

For manufacturers and retailers this means that in order to be successful in international e-commerce, they must be optimally positioned in the IT field: with the hardware and software that is being used, with all relevant internal business processes, and above all with the exchange of product data which they produce and sell.

Only if the retailers receive extremely well-prepared product and catalogue information, they will be able to use it in their own catalogues and sales systems, hence, ensuring sales for the manufacturers. If we look at the current process and the exchange of data between manufacturers and traders, it becomes clear that there is still a long way to go before reaching an ideal state.

On the contrary, many processes are still in their infancy, therefore, they lead to higher costs for manufacturers and retailers alike. One of the most common reasons are the different and diverse file formats and product descriptions that manufacturers work with and pass on to retailers.The lack of a uniform structure leads to high costs associated with the adjustment and transformation of files after their transfer, and above all the coordination between levels of trading. These are limitations due to high pressure on margins, shortened product life cycles, etc.

Nowadays, data plays an important role. As oil powered the industrial revolution, data is driving the digital revolution.

While we will not be able to offer coffee to the participants due to the event taking place online, however, they will receive valuable information and insights such as:

• Presentation of the optimal data management process
• How we can organize data management in the company
• What are the tools and how do we choose the right ones according to our needs
• Where to start and how to simplify everything
• How product data management is related to ETIM (European technical information model)

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