PIM vs. MDM: A Detailed Comparison that Leaves You with No Confusion

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PIM vs. MDM A Detailed Comparison that Leaves
You with No Confusion
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2

Capabilities of Product Information Management
(PIM)

• Manage product data in a centralized repository
  in an effective way
• Integrate third-party tools, software and
  database seamlessly
• Integrate existing enterprise systems
• Manage product information in a logical and
  structured way
• Eliminate data duplication
• A single view of consolidated and aggregated view
  of product data
• Manage and share the available quantity of
  products
• Update the product quantity on the go
• Different teams can access the updated product
  information
• Allows for data cleaning, data cleaning, and data
  merging

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Benefits of Product Information Management (PIM)

• Improved product time-to-market
• Centralized product management and catalog
  generation
• Enhanced business efficiency and productivity
• Boost collaboration and eliminate redundant work
• Superior product data management
• Improved brand consistency
• Enriched customer experience
• Improved data quality
• Increased sales conversions
• Reduced returns
• Cost Saving

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4

Features to Be Expected from a Product
Information Management (PIM) Solution
Data Modeling Bulk Editing
Data Management Catalog Management
Data Integration and Delivery Product Content Localization
Data Quality/Semantics Data Distribution Syndication
Workflow Management Digital Asset Management
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Capabilities of Master Data Management (MDM)

• Cleansing and correction of erroneous data
• Easy to integrate with third-party tools or
  software and existing enterprise systems
• Extends current data governance tools and
  programs
• Deduplication and data matching
• Business hierarchy and taxonomy management
• Allows to build interfaces for task delegation
  and approval workflows
• Data quality reporting and monitoring
• Enables privacy regulatory compliance and data
  obfuscation
• Provides well-organized data structure for
  network and relationship analysis

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Benefits of Master Data Management (MDM)

• Reduced data inconsistencies
• Helps to meet compliance regulations
• Access to accurate, clean, and meaningful data
  for analysis
• Decreased complexity for business expansion and
  globalization
• Supports data consistency across multiple
  platforms and software
• Allows to make edits to data in a particular area
  and ensures the edits are reflected in all the
  appropriate areas
• Override values from source systems

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Features to Be Expected from an MDM Solution
Hierarchy Management Data Localization
Workflow Management Master Data Linking and Matching
Audit Trail Data Enrichment
Data Quality/Semantics Data Governance
Rich Content integration Data Security
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8

Features to Be Expected from an MDM Solution
Hierarchy Management Data Localization
Workflow Management Master Data Linking and Matching
Audit Trail Data Enrichment
Data Quality/Semantics Data Governance
Rich Content integration Data Security
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What is Master Data Management (MDM), but not PIM?
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Role of Master Data Management

• It consists of stakeholder, business clients,
  partners, applications, and technologies
• It centralizes, syncs, and cleans up the master
  record to execute workflows, operations, and
  processes
• MDM offers master data governance that is defined
  by the enterprise Data Governance Council
• It allows establishing a plan for data access
  rights, implementation policies, definitions,
  procedures, and controls
• While comparing with PIM, MDM is a quite bigger
  scale solution that helps companies to serve
  bigger purposes and contributes to the overall
  business growth. Master Data Management focuses
  on
• Enhance agility
• Accelerate decision making
• Improve business intelligence
• Boost the outcome of processes
• Provide smarter data governance
• Improve operational efficiencies

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11

PIM vs. MDM How PIM Strategy is Different from
MDM Strategy
How to Define PIM Strategy How to Define MDM Strategy
PIM requires to manage product data in an excellent way that helps organizations to improve customer experience and accelerate product time-to-market that eventually ends up with increased ROI. If you want to have an MDM then the first thing you need to do is have a vision of MDM. That means get clarity on what you want to achieve through the MDM solution.
PIM is mainly designed to help your sales, marketing, and eCommerce teams. Apart from them, it helps your other stakeholders associated with the product information such as RD department, suppliers, customer care, and procurements. MDM is designed mainly for decision-makers, stakeholders, and C-suite executives.
PIM allows you to collect, consolidate, and enrich the product data. Once you define the vision, share it across the board, and define how to utilize MDM capabilities for your organization.
PIM allows for easy integration with your homegrown or legacy enterprise systems using APIs. Connect your vision for MDM with your business objective to attain desired business growth.
PIM addresses the omnichannel needs of the enterprises by delivering a delightful customer experience across the multiple output channels. Manage n number of attributes related to products, suppliers, customers, employees, locations, services, and more.
It automates various manual efforts to drive efficiency to your operations. It enables you with a collaboration based approach where you can create and maintain high-quality data, avoid legacy practices, and break up the information in silos.
  Analyze and define your operational and analytical MDM needs.
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