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Re: [ontolog-forum] Financial Industry Business Ontology (FIBO)

To: ontolog-forum@xxxxxxxxxxxxxxxx
From: Mike Bennett <mbennett@xxxxxxxxxxxxxxx>
Date: Tue, 16 Dec 2014 13:55:30 +0000
Message-id: <549039D2.6060903@xxxxxxxxxxxxxxx>
Hi Pat,    (01)

Thanks for taking the time to look at this. I appreciate your comments 
but I would like to clarify a few things (sic) in-line below...    (02)

On 14/12/2014 19:17, Pat Hayes wrote:
> This is hopelessly confused. The technical part of it is nonsense. Just as a 
>sample:
>
> "6.3.3.1 Thing
> A Thing is a set theory construct. This is shown on the diagrams as a box 
>with a name. On some diagrams, additional
> textual entries in the box show the Simple Properties about that thing.
> A Thing is defined as the set of individuals which are defined according the 
>facts (properties) given for that kind of thing. "
Section 6.3 is a section titled "Interpreting the Business Model 
Content" and is an attempt to convey to a non-modeler and non-ontologist 
business audience, how to interpret the model. I'll be the first to 
admit this could be improved upon significantly. It is explicitly not 
the "technical part".    (03)

The definition of Thing in the model itself is: "Any thing which is."    (04)

The explanations given in sub-clause 6.3.3 of the written specification 
draw upon earlier explanations we used to try and convey to a business 
audience a kind of natural-language interpretation of the basic 
set-theoretic nature of an OWL ontology without using modeler language. 
This was framed in terms of "Things and facts" where 'fact' is a synonym 
for the more technical word 'property' and nothing more. This is a 
difficult balancing act. For example, the word 'fact' has a very 
specific meaning in modeling which is not the meaning reflected in these 
business-facing explanations.    (05)

Subsequent to writing this section, we decided to deprecate the use of 
the word 'fact' as used here. We should have revised this section to 
come up with wording which would both be more technically correct, and 
still make sense to a non-modeler, non-ontologist business audience. I 
will raise a formal editorial issue to re-write this section deprecating 
the technically incorrect usage of the explanatory word 'fact'.    (06)

By way of background, FIBO was created to address the shortfall in many 
earlier standardization efforts in the financial data area, namely that 
we seemed to have a lot of physical and logical data standards with no 
computationally independent set of meanings and definitions. The obvious 
solution to this was to create an ontology, but the over-riding 
requirement was that such an ontology was to be presented to and 
understood and validated by business subject matter experts. This 
required the provision of diagrammatic and textual material which was 
explicitly business facing. This in turn required the kind of linguistic 
balancing act described above. Hopefully we can improve upon a lot of this.    (07)

Mike    (08)


> Words fail me at this point. How is it possible for educated adult human 
>beings to get themselves so unbelievably muddled over what should be one of 
>the simplest ideas ever stated?
>
> Pat
>
>
> On Dec 14, 2014, at 12:40 PM, John F Sowa <sowa@xxxxxxxxxxx> wrote:
>
>> A report on the FIBO project:
>>
>>     http://edmcouncil.org/view/reports/20141121_FIBO_Report_to_Members.pdf
>>
>> See below for excerpts from the FIBO Semantics Repository Home Page.
>>
>> John
>> ___________________________
>>
>> Source:  http://www.edmcouncil.org/semanticsrepository/index.html
>>
>> This website provides a partial report of sections of the Financial
>> Industry Business Ontology (FIBO). This is being submitted to the Object
>> Management Group (OMG) as a set of proposed standard ontologies under
>> the FIBO umbrella. These FIBO OMG specifications are optimized for
>> semantic technology applications.
>>
>> Alongside these we are working to release the full canonical reference
>> ontology (as seen in these pages) as RDF/OWL...
>>
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>    (09)


-- 
Mike Bennett
Director, Hypercube Ltd.
89 Worship Street, London EC2A 2BF
Tel (UK): +44 20 7917 9522
Tel (US): +1 646 583 2095
www.hypercube.co.uk    (010)


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