Posts Tagged ‘XBRL’

Semantic Web Job: Information Solution Architect

Jeppesen logoJeppesen is seeking an information solution architect. The job description states: “This person will serve as an Information Architect for development of a large, geospatial data management system. Specifically, this person will specify and implement approaches to ensure efficient access, editing, and transaction management for geospatial data and work in the database and access layer of the system. This involves tuning the Physical Data Model and optimization for performance with Oracle 12c Spatial and Graph, Oracle Workspace Manager, and custom developed data access frameworks and services in Java.  This person will interact with data modeling, database administration, data center/IT, and software engineering teams.” Read more

Thinknum Sees Financial Analysis In A New Light

thinknumpixThinknum is a startup with the mission: disrupting financial analysis.

In his work as a quantitative strategist at Goldman Sachs, Thinknum co-founder Gregory Ugwi saw firsthand the trials and tribulations financial analysts went through to digest companies’ financial reports and then build their own research reports about their expectations for future performance based on past numbers. The U.S. SEC’s mandate that companies disclose their financial data using XBRL (eXtensible Business Reporting Language) was supposed to help them, as well as investors of all stripes and sizes that want to better understand what’s going on at the companies they’re interested in.

“The SEC has mandated that all companies have to release their numbers in a machine-readable format, and that’s XBRL (eXtensible Business Reporting Language),” says Ugwi. The positive side of that is that anyone can now get the stats on companies from Google to Wal-Mart, but the downside is that by and large, they can’t do it in a user-friendly way.

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Following Up on FIBO At SemTechBiz

SemTechBizThe Financial Industry Business Ontology (FIBO) was a main topic of interest at last week’s Semantic Technology & Business Conference – which took place in New York City, the capital of the financial services industry. FIBO, as The Semantic Web Blog has previously discussed, is both a business conceptual ontology and an operational ontology delivered together, designed to be useful both to the financial industry and the regulatory community in understanding the complex patterns and relationships of information characteristic of the sector, with the goal of driving greater transparency. The FIBO initiative is a joint effort underway by the Object Management Group and the Enterprise Data Management (EDM) Council.  But many other different standards will be useful to solve the industry’s issues, as well.

At the presentation, Semantics in Finance, Thematix Partners’ principal Elisa Kendall – self-described standards wonk and member of the OMG Architecture Board and co-chair, Ontology Definition Metamodel (ODM) Revision Task Force – pointed out that the amount of regulation in the financial services sector has increased over 400 percent in the last two to three years. She argued for a little more sympathy for the financial services industry, too, which hasn’t been on the receiving end of a lot of that since about 2008 – even though some of these players stepped up to buy companies that were knocked flat by the mortgage market meltdown.

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Updates Made To XBRL Taxonomy For Corporate Sustainability Data

The GRI Taxonomy, developed by the Global Reporting Initiative in conjunction with Deloitte, is one of the first XBRL (eXtensible Business Reporting Language) taxonomies for sustainability reporting. It makes it possible for organizations to tag their sustainability data in reports, with the goal of helping report users – including regulators, investors and analysts –  find and analyze that information.

Now it’s expected that the first draft of the GRI G4 Taxonomy will be available for public comment on Sept. 9 until October 25, according to this report at Environmental Leader. G4, the latest version of the sustainability reporting guidelines, was released in May, reportedly with a greater emphasis on what is material to a company and its stakeholders.

During the public comment period, reporting companies and organizations can test and provide feedback on the taxonomy. The GRI will launch the final version in November, the article states.

Environmental Leader also has released an analysts’ report on the G4 guidelines, available here, describing how it will change the state of sustainability reporting.

To read more about the GRI G4 Taxonomy, see the story here.

Invoke Showcases the Power of Next-Generation Business Intelligence

Paris, France, May 02, 2013 –(PR.com)– In the form of a flexible, generic and taxonomy-driven solution that leverages the XBRL extension of the Oracle 11g XML database, XBRL Analyzer is the first application of its kind to release XBRL data from the technical arena and allow business end-users to regain control over their analysis needs. With XBRL Analyzer, the underlying technical sophistication of the XBRL standard is masked, and non-technical users can freely exploit and extract business-relevant information from mass volumes of highly-dimensional XBRL data that, without analysis, would be effectively devoid of value. Read more

Linking XBRL to RDF: The Road To Extracting Financial Data For Business Value

Dr. Graham G. Rong, founder of IKA LLC, and senior industrial liaison officer at the MIT Corporate Relations Office, leading collaboration between the institute and industry, has been working on a semantic web approach to social and financial analysis based on digital financial data and other information related to companies that can be found on the Internet. The approach first turns XBRL data from SEC reports into RDF format, and then links that with the relevant social information in the company’s ecosystem, to deliver more business value.

The project, which began at MIT (see our earlier story here), has advanced to the application stage, and the software is moving from a JAVA to a browser-based interface. Rong says the team also is developing a web services API for the system.

“Current XBRL technology primary collects financial data for reporting, and secondarily, as more XBRL-based financial data becomes available, it will need to effectively extract financial data for value,” says Rong. Semantic web technology lets the focus be on the latter.

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DERI and Fujitsu Team On Research Program

The Digital Enterprise Research Institute (DERI) is kicking off a project with Fujitsu Laboratories Ltd. in Japan to build a large-scale RDF store in the cloud capable of processing hundreds of billions of triples. The idea, says DERI research fellow Dr. Michael Hausenblas, “is to build up a platform that allows you to process and convert any kind of data” — from relational databases to LDAP record-based, directory-like data, but also streaming sources of data, such as sensors and even the Twitter firehose.

The project has defined eight different potential enterprise use cases for such a platform, ranging from knowledge-sharing in health care and life science to dashboards in financial services informed by XBRL data. “Once the platform is there we will implement at least a couple of these use cases on business requirements, and essentially we are going to see which are the most promising for business units,” Hausenblas says.

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The Semantic Link on Financial Services with Guest, Lee Feigenbaum – May, 2012

Paul Miller, Bernadette Hyland, Ivan Herman, Eric Hoffer, Andraz Tori, Peter Brown, Christine Connors, Eric Franzon

On Friday, May 11, a group of Semantic Technology thought leaders from around the globe met with their host and colleague, Paul Miller, for the latest installment of the Semantic Link, a monthly podcast covering the world of Semantic Technologies. This episode includes a discussion about Semantics in the Financial Services Industry, and “the Linkers” were joined by special guest, Lee Feigenbaum, VP Marketing & Technology at Cambridge Semantics. Lee shared insights gained over many years working in the semantic technology field and with numerous customers in the financial services industry.
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FIBO, FIBO, It’s Off To A Financial Industry Business Ontology We Go

 

Photo Courtesy: Flickr, epicharmus

Credit default swaps. Collateralized debt obligations. Moral hazards. The average person might find the financial services sector and its language as mystifying as some of those involved in the industry might find semantic technology. An event hosted by OMG and the EDM Council in New York City yesterday was aimed at demystifying the latter for Wall Street. But putting the technology to work there might help clarify the discourse around financial instruments for a wider audience, including the regulators who want to deal with concentration of risk issues that played a big role in the Wall Street meltdown.

One part of the picture is FIBO, the Financial Industry Business Ontology, which was the subject of two sessions at the event. An advance discussion of the topic with Thematix principals Elisa Kendall and Jim Rhyne, who was a panelist at the event, set the stage for us here at The Semantic Web Blog. “The primary practical use for an ontology like FIBO that is descriptive of various kinds of financial instruments, including so-called exotics, is that regulators and financial market participants get a common language to talk about things,” Rhyne explains. This is important, given that financial regulators try hard to be collaborative with the industry, pointing out the need, he says, for careful management of financial instruments, including recommendations about capital buffers to deal with downside risk and asking for timely reports of information that would allow them to assess the possibility that a systemic problem could occur rather than directly intervening by stopping trades.

Especially in the derivatives marketplace, there is a lot of “funky terminology,” he says, and not all of it is as well-understood as it should be. Different parties and different parts of the marketplace may call the same instrument by different terms, and one of FIBO’s aims is to provide a common vocabulary.

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New Journal Article on XBRL & Semantic Web

The International Journal of Business and Systems Research has released an article entitled XBRL, semantic web and web services. The article is available here for a fee. The abstract states, “Computer and information technology innovations have revolutionised how business is conducted and how information is exchanged across systems. Technologies, such as eXtensible Business Reporting Language (XBRL), semantic web and web services, have emerged to transform the landscape of business information provision, exchange and consumption.” Read more

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