2 Minute Read: The Case for Data Enrichment
Mark Stibbe
Last week, in our very first episode of the 2 Minute PodcastMatthew Cyr sat down to explain why it's so important for ecommerce retailers to have reliable and consistent data to translate into relevant and high converting online shopping experiences. Here's what Matthew had to say: Pressed for time? Listen to the audio version of the 2 Minute Podcast here The most common challenge we hear when speaking to retailers about what could be impacting their site experience is that their product data has gaps, inconsistencies, and it's often not aligned with the way people shop for products. Ensuring you have complete, normalized and enriched product data that's optimized specifically for ecommerce is critical to meeting the ever-growing expectations of online shoppers. The data challenge comes as a result of limited technology, not enough resources, and misaligned responsibilities across digital teams. We’ve found that most organizations have a team responsible for data acquisition -- this might be a PIM team or buyers for example. Their responsibility is to make sure that they have all of the right data across their product catalog, not necessarily having the data ready for e-commerce. For example, are all of the size metrics from 100+ suppliers in the same numeric format or have all of the variations of red been normalized to just red, or that the description 'drip dry clothing' actually means 'wrinkle free'. On the experience side -- your ecommerce product managers are worrying about technical integrations while site merchandisers are thinking about product placement, pricing, product discovery and conversion metrics. Neither of these teams were built with the resources, time or technology to manage granular product data at scale specifically for e-commerce performance. As they say, 'Your site is only as good as your data' and GroupBy's got you covered. Our product data enrichment solution is purpose-built to make sure that all of your product data is complete, normalized and reflects all the ways your shoppers think and speak about products. By matching our machine learning curation engine with smart data scientists and taxonomists, we guarantee 100% quality with speed and scale for any catalog size. Generally, we are at one-third of the cost and 10-times faster when compared to retailers' current process (which may be generating less data and lower quality). Interested in learning more about GroupBy? Contact our sales team at sales@groupbyinc.com to request a demo.