Creating a competitive advantage is hard work. It sometimes feels like all the innovations have already hit the market and the margin between you and the competition is growing narrower. The modern marketplace requires vast amounts of information to be collected and analyzed beyond what engineers and marketers can eyeball. And from that, the advantage we seek is a single key insight culled from a big haystack of data.
Acronyms are prevalent in the technology sector, and they can cause some confusion. This is one reason Product Data Management (PDM) and Product Lifecycle Management (PLM) are used interchangeably. While they are both systems for storing information, the differentiator is what type of information. Let’s break down what each solution provides and how they compare to each other.