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Re: [ontology-summit] An example of the worth of ontology development

To: Ontology Summit 2011 discussion <ontology-summit@xxxxxxxxxxxxxxxx>
From: Jack Ring <jring7@xxxxxxxxx>
Date: Fri, 4 Mar 2011 10:57:39 -0700
Message-id: <E7938BD0-B63E-4590-A2D5-8B212B5E93B3@xxxxxxxxx>
Like.
There is an elevator speech in there.
Jack
On Mar 4, 2011, at 8:31 AM, Peter R. Benson wrote:    (01)

> It has been interesting watching the discussion and I must say I have
> learned a lot. 
> 
> Despite having spent the last 20 years in developing data driven systems, my
> masters degree was not in technology but in marketing, agricultural
> marketing to be precise. Agriculture is a data rich environment where it is
> easy to turn information into money. When I started my career most farms
> were still relatively small businesses run by owners who saw little benefit
> in computers (at least at the price they were back then). As John puts it so
> well, to convince a small business owner to invest in anything I learned
> that you had to be able to show him the money, not the promise of money
> sometime down the road but real money and real soon. So where is the money
> in an ontology? I could show farmers that by collecting data on their
> livestock they could easily differentiate them from each other and if you
> believe Darwin and you select for the traits you want, it is not long before
> you see the benefit in the form of real money. Same goes for identifying the
> diminishing returns on fertilizers and sprays as well as deciding when to
> replace machinery. I could prove beyond reasonable doubt that a computer was
> better at objectively analyzing data than a farmer's memory and you could
> turn data into information and information into hard cash. So I repeat,
> where is the money in an ontology?
> 
> I work for PiLog and I sell an ISO 8000 Master Data Ontology Management
> (PiLog-MDOM) application. There is no OWL or RDF to be seen but the
> application includes a terminology manager, a data requirements manager, a
> classification manager and a rendering guide manager. The terminology manger
> is linked to the ECCMA Open Technical Dictionary (eOTD) an open free
> repository of over 2 million concepts with associated terminology where all
> the concepts and all the terminology are identified through public domain
> identifiers. The ontology (a formal representation of knowledge as a set of
> concepts within a domain, and the relationships between those concepts)
> allows users to formalize and manage their existing terminology as well as
> document and manage their requirements for data. These data requirements are
> used to measure the quality of their master data (data quality is the degree
> to which data meets requirements) and to identify what data is missing (we
> also sell a service to get the missing data if they need our help in doing
> so).
> 
> Where is the money in ISO 8000 data quality? (1) you can collect better data
> faster and at a lower cost, (2) you can create multilingual screens and
> descriptions at a fraction of the cost of translations, (3) you can identify
> duplicate master data records, (4) you can reduce maverick (free text)
> spend, (5) you can reduce inventory (6) you can minimize risk (see Darwin)!
> The bottom line is that all ERP applications (SAP, ORACLE, IBM MAXIMO,
> Microsoft Dynamics, Infor, Sage,....) run better on ISO 8000 quality data!
> 
> If we are to persuade the market that there is real value in an ontology we
> have to show them how they can use an ontology to generate money, they have
> no more interest in the technology itself then they do in the metadata used
> in a spreadsheet, a document or presentation be it in Microsoft Office or in
> Open Office. Demonstrations of what an ontology does or how it works is of
> no interest - we have to show them the money!
> 
> Peter
> Peter.Benson@xxxxxxxxxxx or Peter.Benson@xxxxxxxxx
> Linkedin: Peter R. Benson  
> 
> 
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