A new press release states, “Prometheus Group, a leading global provider of asset management operations and optimization software, today announced the introduction of Prometheus Master Data as a Service (MDaaS). The solution provides heavy asset enterprises with all data cleansing and sustainment done as a subscription service and includes a standardized industry taxonomy. This is the first master data governance solution available as a service and will help organizations end the repetitive and expensive cycle of data cleanse and sustainment projects. Enterprises overlook and underestimate master data management and it can quickly spiral and become an expensive and time-consuming process. Recent research found that 95% of organizations see negative impacts resulting from poor data quality. Heavy asset organizations are struggling to find an effective way to manage data cleansing and sustainment. With the Prometheus MDaaS service, organizations no longer need to define taxonomies, carry out time-consuming and expensive data cleansing projects, and allocate resources to master data governance.”
The release continues, “Maintenance decisions will now be made based on accurate information enabling teams to have increased confidence in their data. This will drive better decisions, including the tracking of equipment reliability and inventory levels of critical spare parts. ‘Data governance is a key cog in the march towards predictive maintenance,’ said Jeff Kinard, SVP Strategic Partnerships, Prometheus Group. ‘Our MDaaS platform delivers continuous data cleansing, guaranteeing that master data never becomes dirty. This will transform data governance in the enterprise asset management space allowing companies to focus on their core business rather than having to funnel significant resources to data cleansing and sustainment initiatives. As a result, maintenance will be more efficient and effective, delivering a competitive advantage to asset-intensive organizations’.”
Read more at Business Wire.
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