Do you want to decrease costs through improved master data accuracy and streamline your master data management? Our Master Data Management software solution uses technology (not expensive consultants) to provide a standardized taxonomy, with all cleansing and sustainment being done as a subscription service. 

With Prometheus MDaaS, we’re able to collect, optimize, and organize data across the organization within one standardized system, significantly improving maintenance and reliability. Relying on a team of consultants to update an organization's master data every few years is not only costly to the company but also time-consuming as well. Instead of having multiple services and an army of consultants to manage your data and data analysis, we bring it all under one roof, drastically cutting down on costs, time, and resources needed to maintain Master Data sustainment projects. 

Key Features of Prometheus Group MDaaS Software

Field Data Collection

Utilize the power of a cloud-based system through your mobile device. Perform field walkdowns to capture and collect asset information with the MDaaS Capture application. 

  • Gather missing asset information from the field to build out your records and create a complete digital record of each of your assets.
  • Quickly and easily gather asset data from even the most worn-out, dirty, or rusty nameplates, tags, and labels.
  • Harness the power of machine learning, image recognition, and optical character recognition to identify equipment, material class, and required ISO 14224 characteristics. 
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Master Data Standardization

MDaaS Enrich is an AI machine learning-based solution designed to improve your master data. The MDaaS Enrich process is internally managed by Prometheus Group to provide you with complete records, without requiring any work on your end. 

  • MDaaS Enrich leverages machine-learning algorithms to make your asset master data consistent, up-to-date, and accurate across your organization.
  • MDaaS Enrich can create complete records by taking minimal information about materials and equipment, then cross reference it with a database to add additional information, such as manufacturing name, part number, URL, structured short and long descriptions, characteristics, values, and UNSPSC or ISO 14224 codes.
  • MDaaS Enrich identifies duplicate records and obsolete inventory within your system of record, consolidates data, and eliminates duplicate information.
  • Once your data is cleansed and enriched, MDaaS Enrich sorts your data into consistent, organized classes according to industry-specific taxonomies.   
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Governance Workflows

MDaaS Sustain provides a system that allows you to check, update, load, and audit all of your master data. MDaaS Sustain helps govern your master data to prevent duplicates and maintain your master data quality standards. 

  • Search, view, and request changes to your master data.  
  • View live reports on the quality and the status of your master data.  
  • Search all your assets and materials based on class, sub-class, attribute, synonym, and value.  
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Data Migration

If you are changing ERP systems, merging ERP systems, transferring transactional data, or want to revamp your master data, MDaaS Migrate can help.  

  • Receive access to automatic naming convention of files, files tracking and versioning, access to all file versions, and changes to files tracked from one version to another.  
  • Users can map, transform, or freeze business rules. Validate and sign off directly in Workbench.
  • Integrate files with any ETL (Extract, Transform, and Load) tool on the market.
  • Role-based control for master data governance, with access and visibility for records.  
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Master Data Management Software Benefits

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Improve monitoring of stocked spare parts 

Reduce production outages caused by a lack of critical spare parts and additional downtime due to stockout reduction. 

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Save time and money on cleansing projects

Standardize and cleanse master data without a series of costly consultants or an expensive and lengthy cleansing project.

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Lower costs on carrying excessive inventory

Reduce inventory carrying cost by eliminating the number of free text entries entered using a standardized taxonomy, cutting down on the number of materials ordered under multiple product names. 

Integrated Platform

Eliminate data or communication silos through an integrated master data software solution 

Integrate your master data database seamlessly with work maintenance systems, making data easily accessible and organized through intuitive approval workflows with set business rules.  

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Purchase materials at better rates 

Leverage corporate-negotiated rates for ordered materials that use the same naming conventions in your taxonomy as the manufacturer's database.

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Reduce errors when recording or transferring data 

Eliminate the need to manage or maintain any part of the data management process, reducing potential errors. All data is integrated with your ERP, CMMS, IIoT, or EAM. 

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Full team of data scientists at Prometheus Group 

Reduce the burden on your internal resources, as our internal team of functional consultants and data scientists takes on the bulk of the cleansing and enrichment effort. 

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Leverage camera on mobile device to capture data 

Workers can take pictures of equipment, capture data and serial numbers (UDCPI) from images, and complete independent walkdowns on-site. 

Items in a Master Data Management Standardized Taxonomy

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Long and short descriptions

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Translation of naming conventions

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Classes and characteristics

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Noun/modifier dictionary

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Object part, damage, cause, and activity codes

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Catalog profiles

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Equipment master

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Task lists

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Abbreviations

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Bill of materials

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Assets List

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Material records

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Functional locations

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Equipment location

Devices that Require a Plug

Work centers

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Maintenance plans

Prometheus MDaaS Resources

Prometheus Master Data Management FAQs:

What is Master Data as a Service (MDaaS) from Prometheus?
Prometheus Master Data as a Service (MDaaS) is a comprehensive solution designed to streamline master data governance  and management using a standardized taxonomy. This solution provides subscription services for data cleansing, enrichment, and standardization across your entire organization.
How does Prometheus Master Data as a Service help businesses run more efficiently?
The Prometheus MDaaS solution helps businesses reduce costs, improve data accuracy, and enhance maintenance and reliability. It eliminates the need for expensive data consultants, by consolidating multiple services under one roof, and leverages advanced technology to manage and govern master data.
My business already uses consultants to take care of our data every couple of years, why should we use Prometheus Master Data as a Service?
Using Prometheus Master Data as a Service is more efficient and sustainable than relying on consultants. It provides continuous data management and governance, reducing the time and resources needed for periodic data updates and ensuring that your data remains accurate and up to date at all times.
What industries are best served by Prometheus MDaaS?
Prometheus MDaaS is specifically tailored to asset intensive organizations, making it ideal for companies in manufacturing, energy, utilities, oil & gas, mining & metals, as well as any sector that has complex processes that rely on clean master data to operate efficiently and effectively, like the retail and fashion industry.
How does Prometheus MDaaS improve Field Data gathering?
Prometheus MDaaS improves field data gathering by utilizing a cloud-based system and mobile devices. The MDaaS Capture application allows users to perform field walkdowns, capture asset information, and create complete digital records using advanced technologies like machine learning, image recognition, and optical character recognition (OCC) to increase the speed and accuracy of data collection.
How does Prometheus MDaaS improve Data Standardization?
Prometheus MDaaS enhances data standardization through the MDaaS Enrich process, which leverages AI and machine learning algorithms to cleanse, enrich, and organize master data into consistent classes according to industry-specific taxonomies. This process ensures data accuracy and completeness.
How does Prometheus Master Data as a Service assist in Governance Workflows?
Prometheus MDaaS assists in governance workflows through the MDaaS Sustain service. This system allows users to check, update, load, and audit master data, helping to prevent duplicates and maintain data quality standards. It provides live reports on data quality, facilitates change requests, and enables comprehensive search capabilities based on various attributes, ensuring robust master data governance.
My business already uses multiple ERPs, will Data Migration be difficult?
No, the Prometheus MDaaS solution facilitates smooth data migration, even when changing or merging ERP systems. The MDaaS Migrate service offers tools for automatic naming conventions, file tracking, versioning, and integration with any ETL tool, making the data transfer process seamless and efficient.
What’s the difference between master data management and master data governance?
Master data management (MDM) involves the processes, tools, and technologies used to create and maintain consistent and accurate master data. Master data governance (MDG), on the other hand, refers to the policies, standards, and procedures that ensure the quality and integrity of master data across the organization.
What is the difference between ETL and MDM?

ETL focuses on extracting, transforming, and loading data, while MDM focuses on managing and maintaining consistent and accurate master data. 

ETL stands for Extract, Transform, Load, and refers to the process of extracting data from various sources, transforming it into a format that is suitable for analysis, and loading it into a data warehouse or database. ETL is primarily focused on the movement and transformation of data to ensure quality and consistency. 

MDM, on the other hand, stands for Master Data Management and is a process that focuses on managing and governing the organization's master data, which is the key data that is essential to the business. MDM involves creating and maintaining a single, coherent view of an organization's master data, such as customer, product, or employee information, across different systems and processes. MDM helps ensure data consistency, accuracy, and reliability across the organization. 

In summary, while ETL is concerned with the movement and transformation of data, MDM is focused on managing and governing the organization's critical master data to ensure consistency and accuracy. Both ETL and MDM are essential components of a successful data management strategy. 

Where can I learn more about Prometheus Group Master Data Management solutions?

To learn more about Prometheus Group's Master Data Management solutions, interested individuals and organizations can visit our blog and resource center to access relevant MDaaS blog posts, case studies, whitepapers, webinarsevents, and other resources that showcase real-world examples of how organizations have successfully implemented and benefitted from Prometheus Group's MDM solutions.  

You can also reach out to Prometheus Group directly for a personalized demo on how our MDM solutions can address specific business needs and challenges. 

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Explore Prometheus Master Data Management

Do you want to decrease costs through improved master data accuracy and streamline your master data management?