By Akeneo Certified, Solution Consultant Joseph Purayidathil
Introduction to Time to Market Insights
Akeneo is a powerful platform that serves as a centralized hub for businesses to manage and enrich their product data. It helps businesses overcome the challenges of organizing and distributing product information across multiple channels, such as websites, mobile apps, and catalogs. With Akeneo’s Product Information Management (PIM) platform, businesses can easily maintain, store, and organize their product data, making the management process more efficient.
In the April 2023 Release of Akeneo 7.0, new features were introduced, including the Time to Market Insights. This feature allows businesses to gain valuable insights into their product data enrichment process, helping them bring products to market faster. With the release of Serenity, businesses can now compare their Akeneo PIM’s productivity to industry peers using industry benchmarks. This additional information provides even more value to the insights gained from Time to Market Analysis.
Akeneo’s Time to Market Analysis has been a powerful feature in Serenity EE since its release. It is designed to optimize the product data enrichment process within the Akeneo PIM platform. By providing valuable insights and metrics, this feature increases visibility into the go-to-market process, allowing businesses to identify areas for improvement and streamline their workflows. With the Time to Market Analysis, businesses can make data-driven decisions to enhance their time-to-market performance and bring products to market more efficiently.
The main benefits of using the Time to Market Analysis Tool are twofold: selling faster and working smarter. By analyzing the metrics provided, businesses can identify ways to improve their workflows and reduce the time it takes to bring products to market. This can have a significant impact on overall sales and revenue generation.
This new feature offers a comprehensive experience through various features. The insights block above the graph gives a digest of the time-to-enrich performance, providing a quick overview of the metrics. The dashboard provides a visual representation of the data, allowing businesses to grasp the time-to-market performance at a glance.
To Access Time to Market Insights
Begin at the Activity Tab and select Time to Market Insights
The control panel is a key component of the Time to Market Analysis Tool. It allows businesses to define the specific metric and associated filters they want to analyze. The metrics available for analysis include time-to-enrich, which measures the time spent from product creation to reaching 100% completeness, and the number of enriched products within a defined time frame.
The analysis can be further refined using dimensions such as families and categories. By grouping the data according to families (based on required attributes for completeness) and categories (based on product organization and classification), businesses can gain deeper insights into specific areas of their product catalog.
The tool also allows businesses to analyze their time-to-market performance across channels and locales. They can choose to analyze data for all channels or locales, focus on at least one channel or locale, or select a specific channel or locale for more focused insights.
The Time to Market Analysis Tool also offers the ability to define a time frame for analysis, allowing businesses to focus on specific periods and track performance over time.
Exporting data is made easy with the tool. Based on the defined filters, businesses can export the data for all displayed metrics. The exported data is provided in an XLSX file, which can be accessed for further analysis and reporting.
The visualization capabilities of the Time to Market Analysis Tool are showcased through the dashboard and table. The dashboard provides a visual representation of the selected data, summarizing the metrics defined in the control panel. The table allows businesses to select specific families and categories for more detailed analysis.
Additionally, the Time to Market Analysis Tool offers an industry benchmark feature, allowing businesses to compare their time-to-enrich performance with their industry peers. This feature provides valuable insights based on anonymous data gathered from various companies in specific industries.
Ways to Leverage Time to Market Insights
Identify bottlenecks: Analyze the metrics and filters to pinpoint areas where the product data enrichment process is taking longer than expected. This can help identify bottlenecks and areas for improvement.
Optimize workflows: Use the insights gained from Time to Market Insights to optimize workflows and streamline the product data enrichment process. This could involve reorganizing teams, redefining completeness criteria, or implementing automation tools.
Prioritize resources: By understanding where users spend the most time in Akeneo PIM, customers can allocate resources more effectively. They can focus on areas that require more attention and dedicate resources to speed up the enrichment process.
Track improvements: Continuously monitor the time-to-market performance and track improvements over time. Set targets and goals based on the insights gained and measure progress against those targets.
In conclusion, Akeneo’s Time to Market Analysis Tool empowers businesses to optimize their product data enrichment process, reduce time-to-market, and ultimately drive faster sales. By leveraging the tool’s capabilities, businesses can identify areas for improvement, streamline workflows, and make data-driven decisions to bring products to market more efficiently.