Product Data Management (PDM) Statistics


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Product Data Management (Pdm) Statistics 2023: Facts about Product Data Management (Pdm) outlines the context of what’s happening in the tech world.

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Top Product Data Management (Pdm) Statistics 2023

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Product Data Management (Pdm) “Latest” Statistics

  • Organizations without a product data management system report spending 25% more time on unproductive data management chores since it is so crucial.[1]
  • According to FLXPoint, complex product information increases Amazon conversions by 3-10%.[1]
  • A majority of businesses—about two thirds—regularly fail design deadlines, project program budgets, and time to market objectives by more than 5%.[2]
  • The most common impact of data management challenges is ”wasted time and effort.” In fact, the survey shows that companies waste an average of 20.3% of their technical resources’ time on nonproductive data management tasks.[2]
  • One study reveals that 24% of those without PDM do not comprehend its advantages.[3]
  • According to the study’s findings, just 8% of businesses claim they don’t utilize PDM because they have no issues with data management.[3]
  • Just 8% of manufacturers without PDM say that they don’t have management issues.[3]
  • Total spending on PLM software and services was estimated in 2006 to be above $30 billion a year.[3]
  • According to the company’s 2002 financial results, Dassault Systèmes’ overall PDM revenue rose 33% in the fourth quarter to €30.9 million, up from €23.3 million during the same period a year ago.[4]
  • PDM revenue, on a stand-alone basis, increased 25% to €82.7 million, up from €65.9 million in 2001.[4]
  • Dassault Systèmes and its partner IBM had a solid year in PLM by achieving industry-leading growth of over 25% in collaborative Product Definition management (cPDm) new license sales, despite the continued global slowdown in investments throughout 2002.[4]
  • World class manufacturers are 30% more likely to manage their design data using PDM or product lifecycle management (PLM), according to a Techclarity survey.[5]
  • 57% of businesses have trouble handling releases and changes.[6]
  • More than 40% of all companies report an issue with collaboration, according to Quadra Solutions.[6]
  • Nearly 1 in 3 companies say they have worked on wrong or outdated data.[6]
  • According to IDC, 65% of global manufacturers will have achieved operational expenditure reductions of 10% by 2023, thanks to process digital twins powered by IoT and machine learning.[7]

Also Read

How Useful is Product Data Management Pdm

At its core, PDM is designed to streamline the product development process by enabling collaboration between various teams, such as engineering, design, and manufacturing. By centralizing product data in a single repository, PDM helps to ensure that everyone is working from the same set of information, reducing errors and miscommunications that can lead to costly delays. This centralized approach also makes it easier to track revisions, manage dependencies, and maintain data integrity throughout the product lifecycle.

Furthermore, PDM can improve overall productivity by automating routine tasks, such as version control and change management. By establishing standardized processes and workflows, organizations can reduce the time and effort required to make modifications to product designs, ensuring a more efficient development cycle.

Additionally, PDM enables better decision-making by providing real-time access to accurate and up-to-date product information. This allows teams to assess the impact of potential changes more effectively, identify potential issues early on, and make informed decisions based on reliable data.

PDM also plays a crucial role in ensuring regulatory compliance and safeguarding intellectual property. By maintaining a secure repository of product data, organizations can track and document all changes to their designs, ensuring that they meet industry standards and legal requirements. This also helps to protect sensitive information from unauthorized access or misuse, safeguarding the organization’s intellectual property rights.

Furthermore, PDM can enhance collaboration both internally and externally by providing a platform for sharing data with partners, suppliers, and customers. By centralizing information in a secure environment, organizations can facilitate communication and collaboration across the supply chain, leading to more effective product development and better outcomes for all stakeholders involved.

In conclusion, the usefulness of PDM cannot be overstated. By providing a centralized repository for product data, streamlining workflows, improving decision-making, ensuring compliance, and enhancing collaboration, PDM serves as a vital tool for modern businesses looking to stay competitive in today’s rapidly changing market. While there may be initial challenges in implementing and adopting PDM systems, the long-term benefits far outweigh any potential drawbacks. As organizations continue to innovate and expand, investing in robust product data management solutions will be essential for achieving success in the digital age.

Reference

  1. flxpoint – https://flxpoint.com/blog/product-data-management/
  2. tech-clarity – https://tech-clarity.com/extended-pdm/8155
  3. webinarcare – https://webinarcare.com/best-product-data-management-software/product-data-management-statistics/
  4. 3ds – https://www.3ds.com/newsroom/press-releases/dassault-systemes-fastest-growing-company-product-data-management-according-cimdata
  5. autodesk – https://www.autodesk.com/solutions/pdm-product-data-management
  6. quadrasol – https://www.quadrasol.co.uk/services/vault-pdm/
  7. sap – https://www.sap.com/insights/what-is-product-lifecycle-management.html

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