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The Web of Meaning: The Business Value of the Semantic Web

Explore the transformative power of the Semantic Web for businesses, paving the way for efficient data exchange, compliance solutions, and enhanced decision-making. Learn how XML, RDF, and ontology redefine information flow, empowering executives, employees, and IT professionals to harness structured data effectively.

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The Web of Meaning: The Business Value of the Semantic Web

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  1. The Web of Meaning: The Business Value of the Semantic Web William Ruh Global Practice Director December 1, 2004

  2. The World’s Most Successful Business Document Self Describing Easy to Understand The Semantic Web: XML, RDF & Ontology Machine & Human Readable Issued by a Trusted Authority Can be Secured Convertible

  3. The Semantic Web: Structure and linkage within and between business information New York Composer Ellington Role play Doom Billy Jazz Holiday Katherine Hepburn Game Duke Nukem John Wayne Cowboy Movie Wolffenstein The Semantic Web brings additional benefits • Regulatory compliance • B2B Exchange • Workflow and BPM • Business Intelligence • Integrated systems

  4. What if all business information had these attributes? • Executives could answer: • Who are the most profitable clients? • I’m meeting with the FUBAR corporation today, tell me everything about our relationship. • Where do these numbers come from? • Employees could: • Ensure compliance with Sarbanes Oxley, Basel II and other regulations through the information linked and embedded into financials and business documents • Find the information they need when they need it including all the supporting information • Stop getting an unreadable number of hits on search engines • IT Professionals • React faster to B2B and other external integration needs • Spend less time on formats and more on content integration • Support all of the above and more!

  5. CORE Mainframe Servers Servers Why can’t we do this today in business? • IP has brought structure, consistency and ease of use to the network world • HTTP & HTML has brought structure, consistency and ease of use to the Web • The application world is: • Distributed, heterogeneous • Evolves, extends • Costly, complex, rigid, opaque • Rebuilding from scratch, creating a single database or implementing proprietary middleware won’t solve the problem

  6. The Semantic Web: A Natural Evolution in the Enterprise IT Environment Only a few network standards really matter Over the long term – TCP, IP, Ethernet, HTTP, HTML XML – lineage matters Lineage Standards success is based on timing and need. IT’s problems keep moving up the stack. This is the current IT problem. Today’s biggest IT obstacle Jurassic Park not Command and Control Standards grow and are applied in ways that are not predicted, are counter to conventional wisdom, and take time.

  7. So how is this being applied today in business: Tip of the iceberg: RDF is being applied under the covers of well over 100 identified products and over 25 information service providers (brute force search unaided by the Semantic Web) DARPA is applying in several high profile projects for the DoD, including in the creation of DAML Creation of Ontologies for business and government Proprietary protocols being transformed in XML based formats – FIXML, HL7, LegalXML, Rate Sheet Markup Language and 100’s of others (XML.org) Web Ontology Language (OWL) But this is not free, there is hard work and more evolution to achieve Nirvana Ontology and structure require real work to derive the benefits Network technology needs to become more application aware Technology adoption is governed by the knowledge absorption rate of XML and the semantic web technologies by practicing professionals A Dose of Reality: The Good and Bad

  8. 200324B 40,000 BCEcave paintings bone tools 2002 12B GIGABYTES writing paper 2001 6B printing 2000 3B electricity,telephone transistor computing Internet(DARPA) The web Source: UC Berkeley School of Information Management and Systems, Robert Steele, CEO OSS, Inc. 2000 rich content Final Thoughts • The train has left the station so get on it - XML has become universally accepted and semantic web technology is being applied in the leading edge • You can’t stop history – The lineage and timing are right for this approach • You can’t dig out if your buried -

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