ECONOMIC INFORMATION SYSTEMS INTEROPERABILITY

In this article we define and describe the economic information interoperability problemand how it affects today’s enterprises in the context of globalization and current ICT development, thecurrently used solutions found in the integration and interoperability of information systems literature(EDI, Web Services, ebXML, RosettaNet, XBRL), the main research activities done so far in the field ofEnterprise Interoperability and the observed trends in the evolution of standard solutions.interoperability problem; economic information system; standard; enterprise interoperability

Data standardization

With data rapidly becoming the lifeblood of the global economy, the ability to improve its use significantly affects both social and private welfare. Data standardization is key to facilitating and improving the use of data when data portability and interoperability are needed. Absent data standardization, a “Tower of Babel” of different databases may be created, limiting synergetic knowledge production. Based on interviews with data scientists, this Article identifies three main technological obstacles to data portability and interoperability: metadata uncertainties, data transfer obstacles, and missing data. It then explains how data standardization can remove at least some of these obstacles and lead to smoother data flows and better machine learning. The Article then identifies and analyzes additional effects of data standardization. As shown, data standardization has the potential to support a competitive and distributed data collection ecosystem and lead to easier policing in cases where rights are infringed or unjustified harms are created by data-fed algorithms. At the same time, increasing the scale and scope of data analysis can create negative externalities in the form of better profiling, increased harms to privacy, and cybersecurity harms. Standardization also has implications for investment and innovation, especially if lock-in to an inefficient standard occurs. The Article then explores whether market-led standardization initiatives can be relied upon to increase welfare, and the role governmental-facilitated data standardization should play, if at all

An Analysis of Service Ontologies

Services are increasingly shaping the world’s economic activity. Service provision and consumption have been profiting from advances in ICT, but the decentralization and heterogeneity of the involved service entities still pose engineering challenges. One of these challenges is to achieve semantic interoperability among these autonomous entities. Semantic web technology aims at addressing this challenge on a large scale, and has matured over the last years. This is evident from the various efforts reported in the literature in which service knowledge is represented in terms of ontologies developed either in individual research projects or in standardization bodies. This paper aims at analyzing the most relevant service ontologies available today for their suitability to cope with the service semantic interoperability challenge. We take the vision of the Internet of Services (IoS) as our motivation to identify the requirements for service ontologies. We adopt a formal approach to ontology design and evaluation in our analysis. We start by defining informal competency questions derived from a motivating scenario, and we identify relevant concepts and properties in service ontologies that match the formal ontological representation of these questions. We analyze the service ontologies with our concepts and questions, so that each ontology is positioned and evaluated according to its utility. The gaps we identify as the result of our analysis provide an indication of open challenges and future work

Semantic business process management: a vision towards using semantic web services for business process management

Business process management (BPM) is the approach to manage the execution of IT-supported business operations from a business expert's view rather than from a technical perspective. However, the degree of mechanization in BPM is still very limited, creating inertia in the necessary evolution and dynamics of business processes, and BPM does not provide a truly unified view on the process space of an organization. We trace back the problem of mechanization of BPM to an ontological one, i.e. the lack of machine-accessible semantics, and argue that the modeling constructs of semantic Web services frameworks, especially WSMO, are a natural fit to creating such a representation. As a consequence, we propose to combine SWS and BPM and create one consolidated technology, which we call semantic business process management (SBPM

Semantic web services for simulation component reuse and interoperability: An ontology approach

Commercial-off-the-shelf (COTS) Simulation Packages (CSPs) are widely used in industry primarily due to economic factors associated with developing proprietary software platforms. Regardless of their widespread use, CSPs have yet to operate across organizational boundaries. The limited reuse and interoperability of CSPs are affected by the same semantic issues that restrict the inter-organizational use of software components and web services. The current representations of Web components are predominantly syntactic in nature lacking the fundamental semantic underpinning required to support discovery on the emerging Semantic Web. The authors present new research that partially alleviates the problem of limited semantic reuse and interoperability of simulation components in CSPs. Semantic models, in the form of ontologies, utilized by the authors’ Web service discovery and deployment architecture provide one approach to support simulation model reuse. Semantic interoperation is achieved through a simulation component ontology that is used to identify required components at varying levels of granularity (i.e. including both abstract and specialized components). Selected simulation components are loaded into a CSP, modified according to the requirements of the new model and executed. The research presented here is based on the development of an ontology, connector software, and a Web service discovery architecture. The ontology is extracted from simulation scenarios involving airport, restaurant and kitchen service suppliers. The ontology engineering framework and discovery architecture provide a novel approach to inter-organizational simulation, by adopting a less intrusive interface between participants Although specific to CSPs this work has wider implications for the simulation community. The reason being that the community as a whole stands to benefit through from an increased awareness of the state-of-the-art in Software Engineering (for example, ontology-supported component discovery and reuse, and service-oriented computing), and it is expected that this will eventually lead to the development of a unique Software Engineering-inspired methodology to build simulations in future

A Mechanism-Based Explanation of the Institutionalization of Semantic Technologies in the Financial Industry

Part 3: Creating Value through ApplicationsInternational audienceThis paper explains how the financial industry is solving its data, risk management, and associated vocabulary problems using semantic technologies. The paper is the first to examine this phenomenon and to identify the social and institutional mechanisms being applied to socially construct a standard common vocabulary using ontology-based models. This standardized ontology-based common vocabulary will underpin the design of next generation of semantically-enabled information systems (IS) for the financial industry. The mechanisms that are helping institutionalize this common vocabulary are identified using a longitudinal case study, whose embedded units of analysis focus on central agents of change—the Enterprise Data Management Council and the Object Management Group. All this has important implications for society, as it is intended that semantically-enabled IS will, for example, provide stakeholders, such as regulators, with better transparency over systemic risks to national and international financial systems, thereby mitigating or avoiding future financial crises

Data DNA: The Next Generation of Statistical Metadata

Describes the components of a complete statistical metadata system and suggests ways to create and structure metadata for better access and understanding of data sets by diverse users

Web Services Support for Dynamic Business Process Outsourcing

Outsourcing of business processes is crucial for organizations to be effective, efficient and flexible. To meet fast-changing market conditions, dynamic outsourcing is required, in which business relationships are established and enacted on-the-fly in an adaptive, fine-grained way unrestricted by geographic distance. This requires automated means for both the establishment of outsourcing relationships and for the enactment of services performed in these relationships over electronic channels. Due to wide industry support and the underlying model of loose coupling of services, Web services increasingly become the mechanism of choice to connect organizations across organizational boundaries. This paper analyzes to which extent Web services support the dynamic process outsourcing paradigm. We discuss contract -based dynamic business process outsourcing to define requirements and then introduce the Web services framework. Based on this, we investigate the match between the two. We observe that the Web services framework requires further support for cross - organizational business processes and mechanisms for contracting, QoS management and process-based transaction support and suggest ways to fill those gaps