Product Data Quality
Product data quality is an essential element to business success today. Enterprise systems such as ERP, supply chain management, CRM and eCommerce all rely on accurate and consistent data to drive high levels of operational performance, sales conversion and customer service.
Yet achieving a high level of product data quality is a common and costly problem in many organizations, often hampered by one or more of the following product data quality requirements:
- Completeness: having all the needed product master data elements registered
- Conformity: adhering to standards and expected formats in multiple channels
- Uniqueness: avoiding duplicate master data records referring to the same product
- Accuracy: correctly reflecting the real world product and stock keeping unit (SKU)
- Timeliness: ensuring that data are in synchronisation across all channels
- Consistency: fulfilling all other dimensions regardless of the source and sequence of data entry
STEP: A Solid Foundation for Product Data Quality
By automating the on-boarding process, STEP ensures efficient data entry and importing of supplier data while providing conversion, transformation and mapping, staging-area status and approval workflow capabilities.
The flexible hierarchy management in STEP controls the diverse requirements for completeness of product master data. It also serves as the foundation for ensuring conformity in relation to relevant standards and right-the-first-time distribution of product master data in feasible formats related to multiple channels.
The data matching features in STEP use a combination of phonetic similarity and edit distance algorithms as part of the advanced fuzzy logic needed for high performance and confident data matching. This helps ensure uniqueness as a dimension of product data quality.
Product Data Quality Is Essential for Multichannel Commerce
Maintaining a high level of product data quality is a must in today’s multichannel commerce environment. Having timely access to accurate, detailed and consistent product information requires that businesses systematically control the flow of product information and release it into multiple channels in a synchronized fashion.
The STEP platform is an indispensable tool for maintaining accuracy, timeliness and consistency within product master data.
STEP includes clear audit trails and a complete record history that provide you with the necessary information to ensure regulatory compliance and proactive data governance. And it enables efficient data quality management related to both structured and unstructured data — such as product-related rich media — on the web and across all print media.