Advancements in PIM technologies

Product Information Management tools play a vital supporting role in many business ecosystems by ensuring product data is accurate, consistent, and integrated with platforms that facilitate payment processing.

So what are the latest advancements in PIM technologies?

Product Information Management (PIM) tools are continually evolving to meet market shifts and demands. Customer expectations in relation to their online shopping experience are changing to cover Improved automation, product display capabilities, metadata and payment gateways offer more personalised and engaging interactions that ever before.

Improved automation in PIM

Automation of workflows related to product data management helps in reducing manual tasks and errors. This includes automated approvals, notifications, and updates based on specific triggers. Many PIM solutions now offer better collaboration tools that allow multiple teams (like marketing, sales, and IT) to work together on product data. Features may include real-time editing, comments, and version control.

Product display enhancements

Many PIM systems now provide improved capabilities for publishing product information across multiple channels (including web, mobile and print) ensuring consistency and accuracy of product data. Many PIM systems have upgraded their user interfaces to make it easier for users to navigate and manage product data. These recent improvements include the use of more intuitive dashboards, improved search functionality and customisable views.

PIM systems are also advancing in the way they can manage stock levels. Stock quantity control is an important part of trading in an ecommerce environment, to avoid the risk of customers attempting to purchase out-of-stock items. Effective synchronisation can minimise cart abandonment due to inventory issues.

Metadata enhancements

Improvements to how PIM systems handle product variations such as size, colour, material and other attributes are also being noted. Products that feature the selection of multiple variables can be easily managed. Other new PIM features to look for include Some PIM systems also offer advanced features like bulk variant management and automatic variant generation.

Translation enhancements

As your online presence expands, and you connect with global markets, translation features can make a big difference to your reach. The accuracy and efficiency of translation in many PIM systems continues to evolve. Translation features enable you to manage various currencies and catering to a diverse range of geographic markets.

A key feature of a PIM system is its ability to centralise the management of all your stores, regardless of the currencies and languages involved. PIM tools can be used to translate product information, either manually or semi-automatically, enabling support for multiple languages on your website.

One effective method for selective translation is to utilise a built-in translation service that focuses on specific fields, such as titles, descriptions and bullet points. The best PIM software streamlines your go-to-market efforts with minimal manual intervention, helping you manage crucial product data needs, including various metrics and support for different currencies.

Payment enhancements

Online payment processing in e-commerce involves the facilitation of a series of steps that allow businesses to securely accept and manage the payments made by their customers. While PIM systems do not always directly handle payment processing, they can play a crucial role in the broader e-commerce ecosystem by integrating with other systems that do manage payments. By consolidating pricing information in one central location, PIM systems ensure that customers are always accessing current and accurate prices during the checkout process, which is crucial for payment processing.

Both the e-commerce business and the payment processor are required to maintain records of the transaction for accounting and reporting purposes. This data can help merchants analyse sales trends, manage refunds and investigate complaints or queries.

Data handling and enrichment enhancements

Enhanced tools for data enrichment now allow traders to seamlessly incorporate rich media assets, such as images and videos, into detailed product descriptions. This capability enriches each product listing, giving potential customers more confidence in their purchases. They have the opportunity to get a more interactive view of how products look, fit or function. Improved analytics features allow businesses to track product performance metrics and understand customer behaviour related to product data, which can inform better marketing and sales strategies.

The integration of advanced data analytics within PIM systems has enabled traders to improve the systematic tracking of product performance and consumer behaviour. These insights enable businesses to derive actionable strategies aimed at optimising marketing and sales efforts based on empirical data.

PIM systems may provide insights into product performance, including sales data. By analysing this data, businesses can make informed decisions about pricing strategies and inventory management, ultimately impacting payment processes.

AI technology in PIM

AI is increasingly being integrated into PIM systems to enhance efficiency, accuracy and decision-making. There are many ways in which AI can add to PIM function and capability.

AI can automate the process of enriching product data by suggesting additional information or attributes based on existing data and trends. This helps in creating more comprehensive product descriptions. AI technologies can also assist in the management of product images.

Some enterprise businesses have many hundreds or hundreds of thousands of products available in their online stores. AI-powered image recognition tools can automatically categorise and tag product images, making it easier to manage visual content and maintain consistency across platforms.

Machine learning algorithms use by AI technologies can analyse customer behaviour and preferences to optimise product content for better engagement and improved conversion rates. AI can be used to create personalised product recommendations for customers, which improves the likelihood of a sale and creates a more engaging shopping experience.

AI can also identify and correct errors in product data, ensuring that information is accurate and up to date. This reduces manual efforts and enhances data quality.

PIM systems can also use AI for:

Predictive analytics to review, asses and report on historical data, which is then used to forecast trends and consumer demand, helping businesses to adjust their inventory and marketing strategies accordingly.
Natural Language Processing (NLP) which facilitates better search functionalities by understanding customer queries and retrieving relevant product information more effectively.
Workflow automation to automate repetitive tasks within the PIM process, allowing teams to focus on more strategic activities.

It’s clear that the use of AI in PIM streamlines processes, improves data quality and enhances customer engagement, helping businesses stay competitive in a fast-paced market.

Latest improvements in Pimcore

Pimcore is a multi-faceted PIM tool that also offers you a way to manage customer experience and digital assets. Over the last few years there have been several Pimcore updated to enhance functionality and improve user experience. Significant investment has been made into an enhanced user interface, which makes the tool easier to navigate and use. Recent iterations also offer improved functionalities for media management, including better search capabilities and metadata handling.

Data hub improvements have allowed for better integration and data orchestration across various channels, supporting more complex data models. This means that organisations with very large and complex data sets can more easily take a coordinated and cohesive approach to their asset and records management. Advanced analytics tools offer for better performance tracking and insights into customer behaviour.

Pimcore is keeping on top of evolving AI technologies enabling seamless integration with third-party systems and services. There are also new improvements for the customers, including advanced personalisation capabilities and tools that offer a better experience that is more tailored to individual preferences and tendencies. Contact us to discover what Pimcore can do for you.

Related questions

How do product markets impact PIM?

Before a new product is launched, there needs to be a decision about how the product will positioned. To determine how your product will be placed within a market, you will need to define important features and values, and how the product is similar or different from your other products, as well as other products available in the market. Position on your product requires you to think about the motivators and interests of your consumers.

Value positioning: a product is positioned at a reasonable price but still has good functionality
Quality positioning: a product is positioned at the upper end of the price scaled, with a focus on perceived superiority or luxury
Demographic positioning: a product is targeted to and positioned for a particular market segment, which could be location, age or occupation or other differentiating characteristics
Competitive positioning: a product is positioned within a competitive market and maintains viability through competitive and correct pricing

How has Pimcore incorporated PaaS?

In February 2024, Pimcore enhanced their Paas Service, a feature that enables businesses to revolutionise their activity by harnessing technologies that elevate their digital strategy. A Platform as a Service (PaaS) is a cloud computing service model that provides a platform allowing developers to build, deploy, and manage applications without the complexity of maintaining the underlying infrastructure. With PaaS, users can focus on writing code and developing applications while the service provider handles the servers, storage, networking, and any required middleware.

Pimcore PaaS is a transformative solution for businesses looking to excel in today’s competitive landscape. Known for its comprehensive set of standard features and the ability to customise, Pimcore PaaS frees up your businesses from the challenges and uncertainties of managing on premise hosting practices. This positions you to be able to not only to launch effectively but also to thrive, harnessing a platform where efficiency and innovation converge. Improve what you do and how you do it with Pimcore.