Overview „Orpheus Semantic Data Management“
von Orpheus GmbH | Category: Data Management | Dauer: 02:52 min
Hello, and welcome to our video about Semantic Data Management and spend transparency.
To use available procurement data for meaningful, spend analysis we need to ensure its error free harmonized well-structured and validated. This can be reached by data cleansing, data classification, data consolidation and data clustering.
In this video we will take a closer look on text-based material clustering, item classification, Linear Performance Pricing and its valuable benefits. The Orpheus tool implementing these semantic data Management tasks is called Data Categorizer.
By applying intelligent algorithms balance can be found in material texts such as invoices or purchasing orders or master data of items. Subsequently those materials can be clustered automatically based on their textual information for example different spellings or different names for the same material are detected consolidated and eventually brought into a hierarchical structure. This indicates how similar Items are relative to each other.
Thanks to this process we can automate intelligent groupings of items and save important time. Tasks which otherwise must be performed with every single material can be applied on all materials with identical or similar textual information. Material Clustering allows an easy classification and comparison of similar items.
The benefits are standardisation options and by bundling larger purchasing volumes in orders to lower the price per unit of a given material. Material clustering makes it easy to compare prices for similar items and eventually generate important benchmarks as well as to perform advanced methods like Linear Performance Pricing. The material clustering function of our DataCategorizer tool helps you find identical and similar items and subsequently group them.
It gives you the opportunity to classify a complete group of items instead of having to classify each item separately. DataCategorizers clustering option supports you in analysing and evaluating price and cost drivers, identifying starting points for standardisation and specification changes as well as to compare prices of similar materials provided by different suppliers. It also serves as the basis for advanced methods of Linear Performance Pricing.
- Find identical and similar items by name
- Custer / Grouping of similar items/materials
- (Linear) Performance Pricing (LPP)
- Benchmarking of products/items
- Data Cleansing & Harmonization for MMD