By Michelle Kimihira on Aug 09, 2013
Author: Michael Hylton, Senior Principal Product Marketing Director - CX and CRM (Commerce)
Product and customer data is changing at an unprecedented rate. And it’s not only what you collect but also what you input from third-parties, like your vendors and partners. Research shows that master data change at a rate of 2% per month and in 4 out of 5 instances the supplier data is often more accurate than the retailer’s own data.
So how do you handle multiple versions of the truth, house your product and customer data centrally, and ensure that it’s the most accurate? Poor data quality can undermine your Web site usability and drive a poor customer experience. Companies need to support every stage of the customer buying cycle to ensure that the most accurate product, location, and availability data is available.
Great commerce experiences begin with the quality of the data. Accurate customer and product data is one of your most important assets – and you need both in order to provide your customers with the most personalized buying experience. You need to consolidate multi-structured data and sources into one repository, cleanse data by standardizing, error-correcting, and de-duping, govern data by definition, regulation, auditing, and access, and share master data for better insight to increase sales and trust.
To provide the most accurate search results you also need to standardize product attributes as much of your data may come from internal sources as well as third-party partners. This is critical when it comes to providing the best Web site search results. You don’t want your customers searching for “10 horse power” and “10hp” to have to sort throw two different search results.
By following these key commerce data principles you can provide your customers exactly what they are looking for on your Web site.Click here to learn more about Oracle Commerce and here to learn more about Oracle Master Data Management.