The semantic web refers to a set of standards sponsored by the World Wide Web Consortium (W3C) for the definition of business semantics. The semantic web activity within W3C defines a Resource Definition Framework (RDF) and extensions of this to accommodate semantics, the Web Ontology Language (OWL).
We use Semantic Web standards and Resource Definition Framework, with the Web Ontology Language (OWL) to capture and formalise business terms, definitions and relationships. This can be done on a formal, top-down basis or on a bottom up basis. We use a highly structured upper ontology to capture the knowledge of subject matter experts piece by piece.
Ontology modelling has two main uses.
Ontology modelling provides a common language which helps to streamline business processes and eliminate ambiguities. This in turn ensures clarity and common understanding for all parties in the financial process. When data is controlled by the business rather than the IT resource it is able to use that data more efficiently. This greatly reduces integration and new systems integration costs. When that data is connected with global standards, businesses across the global financial markets can connect seamlessly with each other.
Our methods help to simplify your business semantics, taking the complexity out of data. Fund management developers, systems integrators, back office administration and clearing and settlement will now have the tools to simplify their work and eliminate confusion that arises from multiple data sources.