Semantic Web technologies have proven to offer great ways of presenting and combining huge amounts of diverse data. This is a highly valuable characteristic when handling business systems, and is especially interesting, as it is potentially easier to deploy semantic technologies in business environments due to the more exclusive character of corporate solutions, which have a closed number of users and can be forced to adopt new guidelines unequivocally.
The main advantage of employing semantics in business management will consist in the enhancement of mechanization. Thanks to universal vocabularies and reasoning capabilities, the Semantic Web offers faster and more transparent solutions than the traditional ones.
Some of the benefits of applying semantics in business systems:
- Easier integration of information from a diverse set of sources
- Improvement in information clarity, better ability to trace origins of a document etc.
- Better handling of ambiguities due to the usage of vocabularies
- Supporting processes of decision making
- Providing clearer insight into states of affairs, especially among different, not necessarily compatible technical-wise sources
Integrated Information Platform
IIP is now completing one of the largest industrial ontologies for the terminology used in the petroleum business. Support from central industrial partners on the Norwegian Continental Shelf has been secured, and the project intends to propose this ontology as part of a new ISO standard
(..) Parts of the new ontology have been converted from ISO 15926 Integration of life-cycle data for oil and gas production facilities, but after looking into the terminologies used in selected petroleum projects, we also included concepts from other ISO standards. More than 40 000 concepts have now been defined and modelled in hierarchical conceptual structures.