Building an Enterprise Model is a considerable challenge, irrespective of the notation, Entity-Relationship or Ontology Web Language, OWL.
The vision is to achieve an immediate return on investment by using the reference model as an encyclopedia of building blocks, leveraging design patterns as blueprints for Solution Architecture, and reaping benefits from day one.
Solution Architects’ way is to follow the data model packages rather than fully rationalizing the concept hierarchies. We start with the package structure, and installments describe individual FIB-DM packages.
You can also download the tutorial in PDF or watch the webinar video.
Text of the Presentation
Financial Industry Business Data Model (FIB-DM) Semantics for Project Architects
Understanding the business content
Leveraging the design for Solution Architecture
Jurgen Ziemer Ontologist & Data Architect at Jayzed Data Models Inc.
Financial Industry Business Data Model
FIBO and FIB-DM are the Industry Standard
The Financial Industry Business Ontology (FIBO) is the blueprint for Enterprise Ontologies and the Knowledge Graph.
3,500 users downloaded the ontology-derived Financial Industry Business Data Model.
Education resources cover model structure, concept hierarchies, and the transformation process.
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Education course for DAs, Stakeholders, and Ontologists
Project Data Architect experienced in logical and physical data modeling. You want copy design solutions for your department or sub-domain database.
Enterprise Data Architect experienced in industry reference models. You want to customize the industry-standard for your organization.
Finance / Business / Management. As a stakeholder, you want immediate returns without a huge investment.
Ontologist is responsible for operational and enterprise/knowledge graph ontology design. You want to understand FIBO modules.
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Monsters
Many Financial Institutions had multi-year,
multimillion-dollar failures creating an Enterprise Model.
Some comments called the 3,000-entity FIB-DM, the world’s largest data model, a monster.
A misconception of both the Financial Industry Business Data Model and Ontology. You can:
Leverage the industry-standard as a reference model facilitating common names, definitions, design patterns, and reference data across the enterprise.
Scope the Enterprise model of appropriate size.
Use iterative development cycles (Spiral/Agile) harvesting tangible benefits for projects from day one.
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An Encyclopedia can’t be too big
We must not revert to rocket, balloon, and fairy
When in doubt – look it up in FIB-DM
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Building an Enterprise Model?
Irrespective of the notation, Entity-Relationship (ER) or Ontology Web Language (OWL),
Rationalizing the complete industry-standard and customizing it is Herculean labor.
Hercules takes a break from cleaning the Augean Stables.
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The vision: Immediate ROI
Using the reference Hercules removes a block. model as an encyclopedia
of building blocks.
Leveraging design patterns as blueprints for solution architecture.
ROI from day one.
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The way: Two-pronged learning approach
Enterprise Architecture
Focus on hierarchies of the 15 Concepts and Associative Entities
Solution Architecture
Focus on FIB-DM packages (FIBO modules) for the project – not the whole model.
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Business-driven, education course
The Enterprise Data Architect rationalizes the whole model, traversing the 15 concept hierarchies and the associative entities.
The Project Data Modeler wants to copy blueprints and design patterns for a specific business solution.
The Project/Solution track teaches the business content in detail.
You deep-dive into packages relevant to your project.
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Iterative development process (spiral or agile)
Determine objectives
Analyze & Mitigate (risks)
Entity Mortgage Cards
Cost for first iterations are low and remain under control
Plan next iteration
Model, Develop & Test
Deliverables provide a cumulative benefit
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Data Model Education Resources (info cards)
Title
Frontpage
Intended Audience, main and optional
Resource Type:
PowerPoint
Video
Article or Whitepaper
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Education path for Project Architects
You should watch and study Semantics for Finance Users and applicable midsize, large, or extra-large banks first.
Then progress to Semantics for Data Architects, and most importantly, Scoping Data Models from FIB-DM with the Navigator.
The in-depth articles teach how and why the ontology-derived data model works.
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Resources and next steps
The FIB-DM website: https://fib-dm.com
• PowerPoints for viewing and download • Deep-dive articles
• Scalable SVG diagrams of packages and the complete subtype hierarchies.
Follow the FIB-DM LinkedIn page for news, updates and to read and share comments. https://www.linkedin.com/showcase/fib-dm/
Watch FIB-DM Education videos on YouTube. https://www.youtube.com/c/fibdm
Evaluate the 1,029-entity Core Model
Upgrade to the latest
3,173-entity Full Version
Ask your questions or schedule a meeting. jziemer@jayzed.com
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