Posts Tagged ‘Octo Consulting’

Semantic Tech Takes On Grants Funding, Portfolio Management

octoimageWhether the discussion is about public grants funding or government agencies’ portfolio management at large, semantic technology can help optimize departments’ missions and outcomes. Octo Consulting, whose engagement with the National Institutes of Health The Semantic Web Blog discussed here, sees the issue in terms of integration and aggregation of data across multiple pipes, vocabularies and standards to enable grant-makers or agency portfolio-managers to get the right answers when they want to search to answer questions, such as whether grants are being allocated to the right opportunities and executed properly, or whether contracts are hired out to the right vendors or licenses are being duplicated.

Those funding public grants, for instance, should keep an eye on what projects private monies are going to, as well – a job that may involve incorporating data in other formats from other public datasets, social media and other sources in addition to their own information, in order to optimize decisions. “The nature of the public grant market is effectively understanding what the private grant market is doing and not doing the same thing,” says Octo executive VP Jay Shah.

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Semantic Technology May Help NIH In Its HealthCare Advancement Mission

ashoknareOcto Consulting, a technology solutions and management services company for both the intelligence and healthcare sectors, recently published an infographic exploring the intersection among the Semantic Web, Linked Data and Health IT as it relates to accessing and interacting with data from an array of sources in the healthcare chain. “Our point of view is that in healthcare there are multiple data sources and so much data – especially when it comes to clinical trials, pharmaceuticals research and scientific data,” says CTO Ashok Nare. “It’s very possible that each of those data elements is represented in a different format, so how to take them all and connect them to ask questions you aren’t able to ask otherwise. That’s where semantic technologies are extremely useful.”

One health-care sector project in which Octo is putting semantic technologies to use these days is an effort it has underway with the U.S.’s medical research agency, the National Institutes of  Health, whose mission includes providing grants to the scientific community to engage in research and experiments “to enhance health, lengthen life, and reduce illness and disability,”  as its web site explains. Now, not only does the NIH want to understand what it’s funding and how those grants are progressing, but also  “what opportunities it may be missing out on,” Nare explains.

That means continually assessing not only what’s in its portfolio but also what research gaps there are, which requires conducting analysis on more and more data sources and investigating more queries: That could mean more development and expense, without the help of semantic web technologies.

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