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Product data classification is the base to structured and uniquely specified product information. Enhance your sales and procurement processes by always having the right products on hand, say goodbye to endless searching, and returned shipments caused by wrong orders.
Product Data Classification
Product data classification is the base to structured and uniquely specified product information. Enhance your sales and procurement processes by always having the right products on hand, say goodbye to endless searching, and returned shipments caused by wrong orders.
What is product data classification? And who uses it?
The precise classification of product data ensures that products are labeled with a unique identifier (ID). As a result, product data will be sorted into a uniform group structure. For example, to compare them with other products. Furthermore, with the help of product data classification, a product can be clearly described by characteristics to enable quick searches via product properties. Last but not least, product data classification also improves findability in online stores or e-Commerce platforms because a classified product is automatically enriched with synonyms. For example, a classified “pipe wrench” is also found when the terms “plumber’s wrench” or “grab wrench” are searched for.
This classified product information is usually exchanged between manufacturers, suppliers, distributors, and procurement departments.
In industrial companies, the classification of product data is often initiated by the sales, marketing, or product management departments.
Especially enterprise companies have been driving change and putting pressure on small and medium-sized manufacturers to handle business processes digitally. Concluding, that it is not enough to only label articles using barcodes: Customers expect data to be uniquely specified and classified. If the company does not have the ability to deliver the product information in a uniform and standardized format, it risks losing sales opportunities or even clients who source their products from companies who offer electronic catalogs.
What is product data classification? And who uses it?
The precise classification of product data ensures that products are labeled with a unique identifier (ID). As a result, product data will be sorted into a uniform group structure. For example, to compare them with other products. Furthermore, with the help of product data classification, a product can be clearly described by characteristics to enable quick searches via product properties. Last but not least, product data classification also improves findability in online stores or e-Commerce platforms because a classified product is automatically enriched with synonyms. For example, a classified “pipe wrench” is also found when the terms “plumber’s wrench” or “grab wrench” are searched for.
This classified product information is usually exchanged between manufacturers, suppliers, distributors, and procurement departments.
In industrial companies, the classification of product data is often initiated by the sales, marketing, or product management departments.
Especially enterprise companies have been driving change and putting pressure on small and medium-sized manufacturers to handle business processes digitally. Concluding, that it is not enough to only label articles using barcodes: Customers expect data to be uniquely specified and classified. If the company does not have the ability to deliver the product information in a uniform and standardized format, it risks losing sales opportunities or even clients who source their products from companies who offer electronic catalogs.
Product data classification processes & standards: Introducing ECLASS, ETIM & UNSPSC
To classify your product catalogs, it helps to have them in BMEcat format. However, you can also classify product catalogs of various formats, if they contain the product information required for the classification. There are different classification systems you can classify your product data to.
The most common classification standards include:
ECLASS –> International Standard for Master Data and semantics (goods & services)
ETIM –> European Technical Information Model
UNSPSC –> United Nations Standard Products and Services Code
These associations stand for a standardized product communication for buyers, sellers and anyone dealing with product information. The ultimate goal is to speak the same language and give you the ability to reduce cost, time and energy spent with data handling. Using these data standards can result in better product rankings ensuring more sales, revenue and security in planning.
- Save time: You can manage procurement and supplier management more effectively and strengthen operational processes within your organization.
- Reduce cost: You streamline purchasing, merchandise management and sales by bundling volumes and streamlining portfolios.
- Gain flexibility: Continuous processes, automated interfaces and standardized product information increase performance, ROI, and time-to-market.
- Open new potentials: You tap into significant sales potential through electronic catalogs and the operation of virtual marketplaces in which your products can be found immediately.
Once your product catalog is classified your products will have a unique ID for your buyers to find immediately. All it needs, is to search for the ID and the product can be added to your cart. Product classification also means that synoyms are added to your products and will be found more easily.
This way product data turns into actual product information. You improve the strategic base for decision-making because your data is harmonized, prepared in a meaningful way and shared with your customers and partners.
Find out which classification standard is the right fit for your company.