May, 30 2010
Version 4.00 of the finance ontology is published.
Until financing of the ontology development is provided, no more updates are planned.
ON SEMANTIC APPLICATIONS
In what does a semantic application differ from conventional applications ?
Aspect
|
Conventional application
|
Semantic web application
|
Business link
|
Translation of functional analysis to technical analysis. Translation of technical analysis into programming language.
|
Functional analysis = data model. Technical analysis = data model. Program = data model.
The data model serves the 3 purposes.
|
Control of operations: has to be developed via KPI's (Key Performance Indicators), dashboards, software development,...
|
Operational control is demonstrated straight through the implementation of the model.
|
|
Documentation is not uniform, seldom up-to-date, not 'just-in-time' accessible.
|
Uniform documentation straight from the data model, accessible through Java-docs.
|
|
Messages
|
Manual mapping of each message field. At each message modification there is a program modification
|
XML compliant. The finance ontology is ISO 20022 compliant.
|
User interfaces
|
1 for the customer via internet
1 for the front office
1 for the back office
Each with different access rights and permissions.
|
Single interface with different access rights and permissions according to the internal policy are possible.
|
Languages
|
Many programming languages, specialized persons and infrastructure needed.
|
No programming, modelling is performed.
|
Functions
|
The functions are nested in servers, separate software components.
|
The functions form an integral part of the model. They can be called through web services.
|
Database
|
Entities/relationships with codification of the values: translation, documentation, access to the documentation and updates necessary.
Same codes can have different meanings when systems get connected.
|
Ontology with plain text description: readable to men and machines.
|
Design and optimization with keys, indexes, inner and outer joins whereby finally the structure remains frozen because of the complexity and unknown impact of changes.
|
No database design: we promote the use of triple stores. The design for optimization is left to the database provider.
|
|
Inflexible by nature: adding a column (property) to an entity is dramatic in view of interface and server adaptations, testing, data warehousing...
|
Ontologies are by definition generic.
|
The sample.
Project
|
Finance
|
Module
|
Parties involved in securities handling and financial transactions.
|
Presentation ('28)
|
|
Tutorial (+/- '30)
|
|
Documentation
|
|
Module
|
Financial instruments subject to securities handling and object of financial transactions.
|
Presentation ('15)
|
|
Documentation
|
Widgets in the presentations above can be replaced by others, with the focus on input/modification.
Other lay-outs may be required for performance reasons.
The sole purpose is to demonstrate how ontologies are transformed into applications.
Other aspects like performance need to be taken into account when implementing those applications.
Latest news
Homepage: http://www.fadyart.com Contact: info(a)fadyart.com
The finance ontology and the website pages of Eddy Vanderlinden are licensed according
Creative Commons Attribution-Share alike 2.0 Belgium license.