PriceWaterhouseCoopers Spring Technology Forecast (Part 3)

This is the last in a series of posts summarizing the PriceWaterhouseCooper Spring Technology Forecast. I spent a lot of time on the report, since it highlights many important concepts about the Semantic Web and business.

The last featured article in the report is entitled 'A CIO's strategy for rethinking "messy BI"'. The recommendation is to use Linked Data to bring together internal and external information - to help with the "information problem". How does PwC define the "information problem"? As follows ... "there's no way traditional information systems can handle all the sources [of data], many of which are structured differently or not structured at all." The recommendation boils down to creating a shared or upper ontology for information mediation, and then using it for analysis, for helping to create a business ecosystem, and to harmonize business logic and operating models. The two figures below illustrate these concepts.

The article includes a great quote on the information problem, why today's approaches (even metadata) are not enough, and the uses of Semantic Web technologies ... "Think of Linked Data as a type of database join that relies on contextual rules and pattern matching, not strict preset matches. As a user looks to mash up information from varied sources, Linked Data tools identify the semantics and ontologies to help the user fit the pieces together in the context of the exploration. ... Many organizations already recognize the importance of standards for metadata. What many don’t understand is that working to standardize metadata without an ontology is like teaching children to read without a dictionary. Using ontologies to organize the semantic rationalization of the data that flow between business partners is a process improvement over electronic data interchange (EDI) rationalization because it focuses on concepts and metadata, not individual data elements, such as columns in a relational database management system. The ontological approach also keeps the CIO’s office from being dragged into business-unit technical details and squabbling about terms. And linking your ontology to a business partner’s ontology exposes the context semantics that data definitions lack."

PwC suggests taking 2 (non-exclusive) approaches to "explore" the Semantic Web and Linked Data:

• Add the dimension of semantics and ontologies to existing, internal data warehouses and data stores
• Provide tools to help users get at both internal and external Linked Data

And, as with the previous posts, I want to finish with a quote from one of the interviews in the report. This quote comes from Frank Chum of Chevron, and discusses why they are now looking to the Semantic Web and ontologies to advance their business. "Four things are going on here. First, the Semantic Web lets you be more expressive in the business logic, to add more contextual meaning. Second, it lets you be more flexible, so that you don’t have to have everything fully specified before you start building. Then, third, it allows you to do inferencing, so that you can perform discovery on the basis of rules and axioms. Fourth, it improves the interoperability of systems, which allows you to share across the spectrum of the business ecosystem. With all of these, the Semantic Web becomes a very significant piece of technology so that we can probably solve some of the problems we couldn’t solve before. One could consider these enhanced capabilities [from Semantic Web technology] as a “souped up” BI [business intelligence]."