Lars Klimbingat is head of the Competency Center for master data management and processes at retailsolutions. For many years, he has dealt with the challenges of complexity and large numbers of article master data records and seen the risk that these can pose to retail companies. Especially through the course of digitalisation and the related automation of merchandise management, the quality of master data is becoming more and more important. Inconsistent, wrong master data quickly leads to loss of sales, high correction effort, and ultimately negatively effects customer satisfaction.
Add-ons, which support the entry and control of master data with the help of algorithms and the use of machine learning, are now able to reduce the error rate by up to 30% and significantly reduce process costs.
It is worth reading on (the article is in german language)!