FIBO, FIBO, It's Off to Work We Go

Posted by Marty Loughlin on Apr 4, 2016 1:11:44 PM

State Street Bank, The EDM Council, Dun & Bradstreet, Wells Fargo and Cambridge Semantics completed an engagement to harmonize State Street's Interest Rate Swap data with Dun & Bradstreet's entity hierarchy data using the Financial Industry Business Ontology (FIBO) and Cambridge Semantics' Anzo Smart Data Lake®.

The objectives of this project included demonstrating the ability of FIBO to rapidly harmonize disparate data sources for both conventional analytics as well as more advanced visualization, classification and risk aggregation, and to show that FIBO can be operationalized today.

Project Participants and Roles:

project participants and roles

Selected findings from the project included:

  • W3C Standards Work: FIBO is expressed in the standard W3C semantic modeling language, OWL, which is natively supported by the Anzo Smart Data Lake. Loading FIBO into Anzo was a simple import function.
  • FIBO Works: There was an excellent match between the FIBO model and the data sources (Front Arena and Dun & Bradstreet).
  • Mapping & Loading Data is Easy: The alignment between FIBO and the data sources made mapping fast and easy. Once mapped, data loading and transformation was automatic.
  • Data Harmonization is Seamless: By mapping and loading diverse data sources using a common model, you automatically get data harmonization. The combined data sets were immediately available for user analytics.
  • Flexible Analytics: The power of semantic models like FIBO is that they describe data in business terms and do not presume what questions you will ask. With tools like the Anzo Smart Data Lake, business analysts can visualize and query the data any way they wish.
Canary Wharf

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Project Architecture:

project architecture

The project approach included 4 main steps, all done without any coding:

project steps

You can learn more about this project by attending any of the upcoming EDMC member meetings.

To learn more about the Anzo Smart Data Lake, download our white paper here.

Download the Whitepaper

Tags: Smart Data, Big Data, Financial Services, FIBO, Compliance, Anzo, Analytics

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