Are too many choices making eCommerce difficult for consumers? Recently I listened to a TED Talk by Dr. Sheena Iyengar, Professor at Columbia University and author of “The Art of Choosing.” eCommerce managers who often pride themselves in how much content they provide their customers should take her observations into consideration.
Managing the catalog for an eCommerce site is hard enough, but when you have a database―which receives data from multiple sources—it is easy to have duplicates without even knowing it. This makes things hard to find and is very confusing for customers. The best way to solve this issue is to move to a Master Data Management philosophy. By standardizing the item names and consolidating the item descriptions, you create a catalog that is more understandable and easier to search. Here are some of the benefits of creating a database using Master Data Management.
Increases reporting accuracy
Improves data usability
Simplifies design by standardizing data validation
Provides trustworthy data
Eliminates data inconsistency and improves accuracy and consistency
Improves data sharing
Enables consistent interactions between systems
Increases the quality and reliability of data
Provides clean data for the system
Establishes an authoritative source of information
The benefits of Master Data Management focus on either improved data quality or improvements in data governance. The major outcome of implementing a Master Data Management system is providing a unified view of all catalog items and streamlining the provision of high quality, consistent, and synchronized data. These good data management practices lead to operational efficiency improvements as well as enhanced search engine performance, reliable reporting, and an overall reduced item count.
The primary benefit of a Master Data Management system is establishing good data management practices, which improve operational efficiency. It is definitely something to think about if you are managing a large database that receives data from multiple sources.
I read a blog post in LinkedIn recently comparing data quality to personal hygiene. The article stated that “If we are ill, then being clean and hygienic will not on its own make us better. We need medicine to do that. But being hygienic to start with may have prevented us from getting ill in the first place. And being hygienic will speed up the recovery process by preventing re-infection. Being hygienic keeps us fit and in tip-top condition.”
I want to take this analogy a step further. The company I work for, Partnet, is an expert in electronic marketplaces. In this environment, data quality is essential. Like personal hygiene, data quality represents your value and integrity as well as your health. It gives your customers a first impression. They make immediate judgments as to whether they want to do business with you based on the way your application and your data looks to them. How many people would go to a job interview with crumpled, stained clothing and disheveled hair. What kind of first impression would that give? Would you expect to get the job? Having poor data quality can give the same bad first impression.
With an eCommerce site, the customer has to have confidence in your ability to keep their financial information safe. Why should a customer trust a marketplace that does not offer accurate product descriptions, properly spelled words and good product images? If you can’t make sure your item descriptions are spelled correctly, why would they think you could keep their credit card information safe.
It is a poor reflection on both the individual vendor and the marketplace. It may cost money to get the haircut before the interview and to have […]