Confusion Alert: Master Data vs. Product Information
Although the terms master data and product information are often used synonymously, there are some important differences. While master data represents basic, more technical information about an item, product information refers to additional information relevant for customer communication and the sales process.
Product information includes, for example:
- Images and Videos
- Detailed Product Descriptions
- Reviews and Ratings
- Usage Instructions
- Certifications
Foundations of Master Data
Master data encompasses fundamental information that a company stores and maintains about the items it offers. They are crucial for processes in sales, purchasing, inventory management, and production planning. The main goal of master data is to ensure clear identification and classification of products as well as optimization of business processes.
Typical data for an item include:
- Item Number
- Item Description
- Product Category
- Purchase and Sales Prices
- Manufacturer Information
- Stock Quantity
- Dimensions and Weight
Inventory management is extremely important for a good overview and closely linked to the maintenance of master data.
Functions in E-Commerce
While master data is primarily used internally to support processes and structures, product information serves to support customers in their purchasing decisions and present the product attractively. It is important that regardless of the industry, you continuously maintain and update your master data to ensure proper control of business processes and a consistent database. In product information management, master data plays a crucial role and fulfills various important functions. Uniform capturing and storage of relevant item attributes ensure a consistent database for different departments. This enables quick and accurate identification and updating of item information.
An outstanding customer experience is crucial for success in e-commerce!
In this context, master data plays a significant role. They form a solid foundation for continuously optimizing the offered products and thus contribute to efficient and improved customer service.
To ensure a positive customer experience, the following aspects of master data are particularly important:
- Providing accurate and meaningful item descriptions that support purchasing decisions
- Ensuring correct and complete representation of relevant item information on the website
- Utilizing item attributes to improve search results and navigation on online platforms
- Monitoring return rates and customer complaints to identify improvement potentials and increase customer satisfaction
Establishment of Organizational Processes
To ensure effective maintenance of master data, clear organizational processes are essential. This includes initially assigning responsibilities and accountabilities to each employee working with master data. It is important that each employee is assigned clear roles and areas of responsibility. Furthermore, standardized procedures for capturing, modifying, reviewing, and approving master data should be established. Uniform approaches allow you to leverage optimization potentials and minimize error sources. Another important step is conducting regular training for all involved employees. This ensures they have the necessary expertise and are always up to date. In addition to training, effective communication and documentation are crucial. It is important to strengthen collaboration and information sharing within the team. Additionally, processes, guidelines, and best practices should be documented in writing to ensure transparency and facilitate efficient knowledge transfer.
The networking and integration of master data are essential aspects of master data management. It allows you to manage and utilize your master data across various systems and platforms such as integration with ERP systems, PIM systems, e-commerce platforms, and other business systems. Master data also plays an important role in interaction with other business processes. For example, they can contribute to optimizing processes such as order processing, inventory management, sales, marketing, and customer service. Through effective integration and utilization of your master data, you can optimize these processes and improve the efficiency and performance of your company. A reliable database allows for tailored marketing campaigns and sales strategies for specific target groups. This includes creating meaningful product-related promotional materials, planning and implementing sales promotions and special offers, as well as optimizing assortment presentation on online platforms to increase visibility and purchase probability. Furthermore, automated generation of item numbers and barcodes enables improved management of supply chains and inventory management. The influence of master data on the customer experience
Order is Half the Shop
Efficient maintenance and management of master data are essential prerequisites for the success of your company in e-commerce. By providing high-quality and up-to-date item information, you can improve the customer experience, optimize your business processes, and strengthen your competitive position.
If you have further questions about Smartstore and your online shop or would like to schedule an appointment for a live demo, we are at your disposal. You can reach us via the contact form, by email at info@smartstore.com, or by phone from Monday to Friday between 10 a.m. and 4 p.m. at +4923153350.
Contact:
Email: info@smartstore.com
Phone: +4923153350
SmartStore AG
Kaiserstraße
63-65
44135 Dortmund