Bad Data leads to Bad Decisions

Product information management (PIM) is a crucial part of digital commerce, as it involves the collection, management, and distribution of product data to different channels and platforms. Bad data in PIM can lead to bad decisions both internally and externally, as it can affect product development, marketing, and customer experience. Here are some examples and research data to illustrate this:

1. Inefficient Product Development: Bad data in PIM can lead to inefficient product development processes, where teams waste time and resources working with inaccurate or incomplete product information. According to a study by PwC, 43% of organizations reported that data quality issues were a significant barrier to efficient product development. For example, if a product manager relies on outdated or inconsistent data to make decisions about a new product feature, it may result in unnecessary delays, revisions, or missed opportunities.
2. Poor Customer Experience: Bad data in PIM can also lead to poor customer experience, as customers may receive inaccurate or misleading product information. According to a survey by Salsify, 87% of customers say that product content is important in their purchase decision, and 50% have returned a product because it did not match the product description. For example, if a retailer publishes incorrect product dimensions or images, customers may receive a product that is not as expected, leading to frustration and negative reviews.
3. Lost Revenue: Bad data in PIM can also lead to lost…