Businesses generate a significant quantity of data on a day to day basis. If this information is not managed properly then it is most likely to be lost. Because of this, the organization might face many challenges; lost revenue, competitive advantages and missed business opportunity are few to name. The problem also arises when the data generated is not entered in an organized manner. The data, when stored, if not done properly, then it would not be easily accessible and reusable which is a big challenge.
As the technology advances and federal regulations get stricter all around the world, businesses find it very difficult to cope up with the increasing competition, expenses and also complying with the regulations in the normal course of businesses. Though the regulations are meant to streamline businesses, the processes involved in completing them are meticulous and time-consuming. One such process many businesses invest on is web research.
The electronic media has gained popularity significantly in the last decade. From being merely a communication media, the internet has rapidly evolved to become the most promising marketplace. The increasing popularity of e-commerce firms confirms this development. Firms and fresh startups need E-commerce to take their sales to the maximum, at a global level. A successful online e-commerce store requires an efficient Product Information Management system for adding, modifying and maintaining products on a regular basis.