Thanks to the smartphone and digital interactions, shopping today is often completely different than the systems we deployed in the past. Retail Systems Research recently concluded a three-part series on an overarching cross-channel architecture based on a presentation at the RIS News Cross-Channel Executive Summit entitled “Becoming Omni-Channel Ready for 2017″.
The leg bone is connected to the knee bone;
The knee bone is connected to the thigh bone;
The thigh bone is connected to the hip bone;
Now shake dem skeleton bones!
The individual components read like a government procurement contract with all those three-letter acronyms (TLA).
- CRM - customer relationship management is responsible for a 360-degree view of the consumer (also referred to as Master Data Management (MDM))
- PIM - product information management covers not only the physical information about the product, the various merchandising hierarchies but also the communal content found in reviews and ratings
- DAM - digital asset management deals the classification, control, storage and distribution of content to all matter of channels and devices, often simultaneously
- OMS - order management system responsible for ensuring inventory supports demand; no sense promoting something you can't deliver
- POS - point of sale captures the transaction and includes both in-store and ecommerce platforms, at least for this discussion
Some key points:
- This isn't something you can buy today from any one vendor.
- This won't happen overnight; it is a 3-5 year plan.
- Marketing is now a line, operational function with P&L responsibility.
- It will take a market-leading vision to get there.
- Insight-driven changes in marketing plans is the only way to justify this.