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well welcome to semantics for managers to financial industry business data model 50 M this is an introduction of the ontology derived data model for finance and business stakeholders the fiber is the authoritative model of financial industry concepts definitions and relations the enterprise data management counts as the idiom C is a global Association of more than 200 financial institutions and they advocate data management best practices the development and implementation of data standards EDMC members developed the financial industry business ontology viable as a business conceptual model there's more than 1,600 classes that detail financial instruments business entities and processes are you work at a financial institution and already embraced model driven development industry standards in reference models such a finance business stakeholders with working knowledge of entity relationship and ontology diagram the data and application architect experience in enterprise reference models you may have used fiber design patterns and definitions and finally as an oncologist with an in-depth understanding of the firewall you already use the reference ontology for your design and you want to spread adaptation of the fiber across the enterprise about myself well I came to America 20 years ago after working for the German Stock Exchange I joined Reuters and then Credit Suisse and after CSFB I joined IBM as an IBM Software Group consultant for the banking and financial markets data warehouse @bf MDW and in that capacity I was at 45 banks in North America Europe and Asia implementing the model and customizing the BFM DW in subsequently for four years I implemented B of MDW a city and deutscher for C car and other regulatory applications and I'm a frequent speaker at the fiber conferences J the data models is a US consulting company and JZ towards the copyright to the financial regulation ontology z' and to the semantic compliance trademark now there's a chasm between semantics and conventional data management the EDMC specified the fiber in ontology web language and there is a right choice to do for business conceptual model however owl needs highly specialized ontology fiber is comprehensive with data coverage of business entities loans securities derivatives indicators and so on however many banks and investment managers don't have the expertise to use fiber in-house large financial institutions already implemented five on RDF stores over the RT Department must still support a designed conventional databases in other words you cannot throw the wool bank into the triple star the 50 M is the bridge to cross that chasm so on the left hand we have semantic applications implemented on triple stars on the right hand side we have our conventional words word on relational databases so we have survival specified an RDF all deploys on the semantic triple star the relational site we use data models and out of the model recreates Amata that we instantiate on the database this is where cots comes in the configurable ontology to data model transformation it takes an ontology as an import and generates a conceptual or logical data model out of it and 50m is quartz applied to the fiber now my predictions RDF stores will dominate data systems for knowledge management however our DBMS remains the dominant database for traditional transactional and business intelligence systems hence financial institutions still need relational models and data modelers about ontology web language will replace the ER model s invocation of choice for industry domain and enterprise models now when we look at Enterprise Information architecture we can classify it by the use whether for business design or development the type conceptual logical physical or implementation and the level whether it applies at the enterprise level deep mentions or for individual projects so fiber is a business conceptual enterprise model specified as an the stress standard if a financial institution implements a fire would become say enterprise model now 50 M is the twin-off sapphire bow it's also a business conceptual enterprise model and out of 50 M we can generate logical and physical models that we deploy on relational database management systems now likewise another sibling here fill um the universal model as released in UML X MA and out of that we can generate classes and code for for object languages and for the future we also should have message and process answers of proposition of the semantic enterprise information architecture is to have an ontology of the apex at the apex of the architecture and all other logical models derived from the ontology so semantic model driven development it means 2d to drive our development by models and in this case with semantic model to begin with fiber is the domain ontology 50 M is the conceptual data model the conceptual business model for the financial industry applied at the enterprise level out of the conceptual we drive the logical models for data message process and object out of logical model we can create implementation artifacts such as a mass or Java code so mid-size financial institutions without semantic technologies yet adopt fiber 50 M as a strategic Enterprise model large institutions can use court to transform the innocent ologies into data models for downstream apple implementation so the financial industry business data model 50 M is the fybel in the data modeling tool si P power designer and users of the models have migrated 50 M to Irvin Studio SPARC CA and many other data modeling tools financial industry business data model has 1875 entities complete definitions and notations and axioms the business rules so data architects leverage the full content of the industry standard we have a common language and design patterns for semantic and relational data now what are the transformation principles and consideration for an ontology derived data model well number one the model model must be practical so we get an overly normalized design becomes too abstract for business users and developers second the model must be complete we don't want to miss information from the 5 ontology third the model has complete documentation we have diagrams to depict all subject areas and design patterns and we have additional data model resources such as this tutorial number four the model mix back to its source the ontology no and domain ontology generates a perfect conceptual data model now here on the left hand side we have an ontology graph and here's the example is a fiber bank account which with its identifier and the financial institution that provides a bank account and on the right hand side we have the conceptual model and this diagram here with the entities subtypes associative entity it is the best representation of the requirement the bank account its provider and CIT so in other words they are no missing and no unneeded entities and relationships in the design again a domain ontology like the fiber generates a perfect conceptual model from five or 250m how does it work the configurable ontology to data model transformation code it is basic ETL so we extract metadata from the source ontology from fiber transform ontology metadata into conceptual data model metadata and loaded into the data modeling tool in our case into power designer the extract process runs sparkle on the ontology to get the metadata power designer imports MS Excel workbooks and the transformation between it is a two-step process using the patent-pending meter data sets so the extract populates ontology meta data sets for classes object and data properties and annotations then in step one we transform the ontology metadata and populate a generic entity relationship representation and then the tool specific meter data set is empowered designer and in step two is a simple conversion from generic er to powerdesigner objects properties and extended attributes so the transformation technology is patent pending and the patent protects 50m users then show us updates of 50m and it makes a transformation process itself available simply because it's no longer a trade secret and also in the future we can transform as a domain ontology is like gene oil automotive and the provisional patent application comprehensively covers the inventions fear 14 figures 24 pages of specification 20 claims that cover message system ends a computer readable memory and all possible embodiments so 50m core is open source it's been released under general public license gps 3.0 that's an open source initiative recommended license and you can download the data model on the 50m website it says 1,000 entity open source data model and now here we have two PI's here on the left-hand side we see the financial industry business data model and in it the slices are individual modules derivatives indicator securities with a number of entities in them and the biggest chunk of it Quorra 1029 entities are open-source and they break down into the basic fiber modules foundation business entities and finance business and commerce is so the 50m core is a self-contained standalone model and so there's a fiber and in turn 50m has several layers so the generic layer here consists of ontology z' for semantic data metadata languages countries and currencies and s course mainly used for annotations then we have the fiber foundation that imports the upper ontology z' and provides the basic building blocks for all other fiber modules an intern here the arrows indicate an ontology import we have business entities and we have finance business and commerce that import foundation and then all these modules they are also the major packages in the data model and then beyond the domain core we have extensions that is the package for securities derivatives and then indicators and indices so the upper part above this line is free open source the lower part the extensions are available for commercial licensing at the point again is that the free open source as the data model does not have any references into the commercial components of the model so it's self-contained and can be used standalone and now soon-to-come packages in the under the commercial license they are still in fiber develop but soon we will have loans and mortgages market data corporate actions and collective investment vehicles also known as investment funds okay was a 50 M course really meant for smaller pension funds saving and loans and for academic researchers larger financial institution should license the full model the complete 1875 entity data model plus updates as new fiber modules for painting and investment become available you can have your own purchase and software license agreement upon request you get access to the data model diagrams powerpoints X and Visio resources and that comes with the permission to lift off and rebrand for internal use in other words you can take anything from this and as our powerpoints and copy it over to your own presentation optional at 12 months maintenance contract with training model and resource updates now pricing is tiers based on asset size and the tears I just copied them from the EDMC membership tiers so you can just show me your membership level in the edmc and that would then apply for the license price as a small medium or large financial institution the discounts for early adopters and special offers for regulators and governments and your 50m evaluation might intended to make that fully transparent so step number one is to download the 50m core the open-source version review the education resources if you like schedule an online demo with your questions and answers and you can examine the full model content in an interactive report so in other words you you can test if necessary migrate to your own modelling towards a data model with the thousand entities and the report shows you Z as a currently 800 entities that are in the extended model version okay it's a brief look at the 50m comm website and from the side you you have a download link it's also on the menu that takes you to a download page but you can download the financial industry business data model we have the data model resources and with that it's a visual guide so here we have our current text semantics for managers andreas links to related resources like year report so his cue cards info cards have the audience and if applicable he in this case a video and then arrows indicates a main education path so next one in line is semantics for data architects again with some deeper dive article comparing ontology to date have moral hierarchies with an optional Dec on um the UML model and then we progress for the scoping our first data model and introducing the fundamental concepts so back to the home page another thing to to look at here is the full model report and this is ready to evaluate what exactly do I get in the extended data model version so here's a list of all 50 mm entities all 1875 so you can exactly look what additional content do I get your securities exchange this is in the sec module and with it you have the definition relationships and the annotation properties so I guess that concludes the overview of the website can download data model resources in the full report on the VM calm okay to recap there's a chasm between semantic and conventional data management and 50 M is the bridge across the chasm well thank you for for watching veneer see fit again the link to the 50 M website and please if you have any questions email me and so well take a look at 50 M calm and have a nice day thank you