FIBO Foundations Content Team Mike Bennett EDM Council
FIBO™ Foundations Content Team Mike Bennett EDM Council ● April 10, 2018 Confidential
Agenda 1) 2) 2) 3) 4) 5) 6) Confidential NEWS Open up the wiki with the currents weeks content Use Case reminder. Where are we on our road map. This weeks agenda: Go to JIRA The days content discussion EDM-Council/FIBO Foundations Content Team 2
NEWS • No news • Don’t forget EDW 2018 FIBO Days! – April 24 - 26 – See https: //edw 2018. dataversity. net/program. Details. cfm? ptype=K&option. ID=404 &pgid=4 Confidential EDM-Council/FIBO Foundations Content Team 3
FIBO™ Foundations Content Team Leaders name: Mike Bennett Title: Head of Semantics and Standards Organization: EDM Council The Team: Mike Bennett Bobbin Teegarden John Gemski Max Gillmore Rob Nehmer David Frankel Marcello Ceci Jeff Braswell Confidential 6/6/2021 EDM-Council/FIBO Foundations Content Team
Wiki • https: //wiki. edmcouncil. org/display/FND/ FIBO+-+FCT+-+Foundations+Home Confidential EDM-Council/FIBO Foundations Content Team 5
Use Case: FCTs Support • Each FCT needs to identify abstractions they need – Some exist in Production FND – Some are in Provisional FND or even Informative – Some are work for us to do • FCT use Cases - Wiki page – https: //wiki. edmcouncil. org/display/FND/FI BO+Content+Team+Requirements+for+Fo undations Confidential EDM-Council/FIBO Foundations Content Team 6
Priorities • Loans Concepts Coagulation – Spreadsheet from Michael Uschold – 2 areas remain • Name collisions – Identify common concepts versus heterographs • E. g. Product, Service, Facility • Focus of this week’s work • Legacy (Provisional + Informative) maintenance – Definitions issues – Dot ones / duplicate property names Confidential EDM-Council/FIBO Foundations Content Team 7
Recap since last meeting • Q 1 Release material in FND – Support for FBC, SEC, IND, DER • Further FND changes being added – E. g. in Products. And. Services, for Retail • Many Informative ontologies now deleted – References updated to normative content – Expected process for FCTs going as anticipated • Identifying more as we go Confidential EDM-Council/FIBO Foundations Content Team 8
Today’s Agenda • Review latest Homework • JIRA – – Close JIRAs that have been implemented Triage remaining ones E. g. the Russian fellow (1 new one this cycle, out of date) Method for getting any changes into Release for 2018 Q 2 • Start to use CCM to generate new ontologies where feasible Confidential EDM-Council/FIBO Foundations Content Team 9
Products and Services Release Confidential EDM-Council/FIBO Foundations Content Team 10
Products and Services Release • Missing: – Sub class relation from Off. The. Shelf. Product to Template – is. Template. For – still in Informative, not missing Confidential EDM-Council/FIBO Foundations Content Team 11
Confidential EDM-Council/FIBO Foundations Content Team 12
Previous work • Use of Powertypes – Added to Parked CCM model section – What to implement in operational OWL for these – Products and Product Lines • Reviewed Release on this – Specific issues e. g. has. Catalog should be a property of Product Type not Product SEE NEXT SLIDES – Product and Service as isolated classes – conceptually a service is a kind of ‘Product One’ (Marketable Thing) – Some Release properties of Product relate to Product One – Others relate to Product Type – Determine how to reflect concepts in Release Confidential EDM-Council/FIBO Foundations Content Team 13
Patterns: Products Confidential EDM-Council/FIBO Foundations Content Team 14
Product Kinds Sandpit Confidential EDM-Council/FIBO Foundations Content Team 15
Product Kinds Sandpit Defined as something offered by someone Defined as something with a Market Confidential EDM-Council/FIBO Foundations Content Team 16
Product Kinds Sandpit Whether you need the direct relation; This would be a property chain Conclusion: No, not useful Confidential EDM-Council/FIBO Foundations Content Team 17
Product Kinds Sandpit Product Three Party In Role Product One Product Two? Still unclear (Release has some of Product One about it) Confidential EDM-Council/FIBO Foundations Content Team 18
Product Kinds Sandpit Product Three Product One Product Two Question: Whether this is a line of Product Two (excl. Service) or Product One Confidential EDM-Council/FIBO Foundations Content Team 19
Products Concepts • Reminder: – Product One: Anything that can be marketed (including goods and services) – Product Two: A kind of Product One that is not a Service; physical and / or contractual etc. products (= Product in Release FIBO) – Product Three: A thing that has been produced • Product One and Product Two are relative things (something in the context of it being marketed, sold etc. ); • Product Three is the corresponding Independent Thing for a range of these (but not including services). • Service has as its defining characteristic that it takes the form of some activity. Confidential EDM-Council/FIBO Foundations Content Team 20
Loan and Contractual Products • Loans are a kind of Contractual Product (and also an off the shelf, or template product) – The bank markets the availability of a contractual relationship in which the customer and the bank enter into a loan agreement and the customer draws down a loan on the basis of that. • Loan is really about buying the debt of the borrower. – These precise details don’t impact what we want to say about a contractual product, whichever way the nature of the Loan itself as an agreement and / or as a transaction is modeled. • The bank owns the loan, however; and it is a product of the bank • For the consumer, the loan is not an asset, it is a debt Confidential EDM-Council/FIBO Foundations Content Team 21
Product and Services Conceptual Model Confidential EDM-Council/FIBO Foundations Content Team 22
Additional features Confidential EDM-Council/FIBO Foundations Content Team 23
Additional Featurea • From Product in Release, Marketable Thing – Should be the same concept – Has the Catalog and Lifecycle • Previously we had these as properties of Proeuct Kind – But – Product is a Kind! – Simplifies the changes needed Confidential EDM-Council/FIBO Foundations Content Team 24
Release Proposals • Product and Service – Product = Marketable Thing (Product One) – Make Marketable Service a child of this • Service qua service is distinct from Marketable service – Add Marketable Facility as a child of this • Add the ‘missing’ properties of Product One – Market – takes. Form • Specialized for Facility, Services, things (Goods) Confidential EDM-Council/FIBO Foundations Content Team 25
Product Concepts • Add Product Kind concepts to Product – has. Catalog – has. Lifecycle – has. Identifier • Contractual Product – Can be a kind of any marketable thing – You market and sell the contractual basis for any manner of product, service or available (prepaid) facility – There are still omissions in the 2017 Q 4 content on this Confidential EDM-Council/FIBO Foundations Content Team 26
Services as Products Feedback Cory: Here is my take on it (which also borrows from some Enterprise-SOA ideas): What gets confusing is that there are two “Occurrences” in purchasing a service: The “Purchase”, as any purchase is an occurrence – this is what REA describes. Any purchase results in an exchange of assets. Products kinds are classes of assets offered for such exchange (e. g. Toyota Camry). Products (roles of individuals, e. g. My Camry for sale) are individual assets offered for exchange (after the exchange they are assets of the purchaser). For a service product (individual) there is also the occurrence of performing the services. What is purchased (in the purchase occurrence) is the right to have the service performed. The performance of the service is a satisfaction of an obligation. So in both the case of a physical thing or a service, a product is an asset offered for exchange. There is no reason to have “Product kinds” differentiated as services, what is differentiated is the kind of asset offered for exchange: Physical things, rights (including rights to have a service performed), I. P. , stocks, currencies, etc. Of course, if needed for the terminology, there is no issue with defining a “service product kind” but it is just a “product kind” restricted to offering the right to have a service performed. Confidential EDM-Council/FIBO Foundations Content Team 27
Cash. Disbursement + «Economic. Resource» «Economic. Event» Advertising. Service Acquisition Cash outflow 1 transfer. Duality stockflow 2 «Economic. Resource» typify Advertising. Service (not usually materialized) congruent «Resource. Type» Service. Type -quantity or amount outflow 2 Advertising. Order «Economic. Event» + «Economic. Resource» Advertising. Campaign transformation. Duality stockflow 4 Aggregate. Resource (bundle of services) Service in REA • Here is an example of REA services being acquired and consumed Confidential
«Economic. Agent» Vendor outside. Participate 2 -vendor# Cashier PK 1. . 1 outside. Participate 1 advertising. Service. Voucher# amount «Economic. Event» 0. . * duality 1 Cash. Disbursement PK disbursement. Timestamp PK amount 0. . 1 0. . * inflow inside. Participate 2 1. . 1 «Economic. Resource. Type» Advertising. Service. Type advertising. Service. Type budgeted. Amount. Monthly amount. Available 1. . 1 PK «Economic. Agent» Advertising. Service. Employee -emp# PK -YTDcommission 1. . 1 participate 1 1. . 1 outflow 0. . * «Economic. Event» Advertising. Order 1. . * advertising. Order# service$Consumed purpose participate 2 0. . * «Economic. Event» 0. . * PK duality 2 1. . 1 Advertising. Campaign sales. Campaign# accumulated. Cost theme PK REA Example - CPU (b) – Advertising Confidential -emp# 0. 1 «Economic. Event» Advertising. Service. Acquisition 1. . 1 0. . * inside. Participate 1 PK
Services • Seem to circling back to Service v Facility (Rights) – See previous work… Confidential EDM-Council/FIBO Foundations Content Team 30
Rights Products and Facilities Confidential EDM-Council/FIBO Foundations Content Team 31
Services • Seem to circling back to Service v Facility (Rights) – See previous work… • Question – Are all Services really ‘Rights to a service’ (i. e Facility here)? – I think there are services you pay for right away versus services you pay for the right to (optionally) Confidential EDM-Council/FIBO Foundations Content Team 32
Next Steps for 2018 Q 2 • How do we fit this into the proposed Release ontologies? – Product Type? – Categories of Loan qua Loan versus Product Type – Do we need the meta concept of Type in Release? • How would Product Type be used? – Finding: Product is a ‘Type’ in this sense • Meanwhile the absence of any supertypes for Product, Service seems a little too physical Confidential EDM-Council/FIBO Foundations Content Team 33
Status • We should now be able to specify exact changes to Release – Subject to some toing and froing in Service Offering • No more fine tuning! Confidential EDM-Council/FIBO Foundations Content Team 34
JIRA Review • JIRAs closed recently • Additional JIRA comments and questions • How do we catch when to close a JIRA – E. g. pull Request implemented – Is there a report on these? Confidential EDM-Council/FIBO Foundations Content Team 35
JIRA Review • Current and recent JIRAs • Go to https: //jira. edmcouncil. org/projects/FND/ issues/FND-193? filter=allopenissues • Of note: – New Products. And. Services addition Confidential EDM-Council/FIBO Foundations Content Team 36
JIRAs closed Previously: • FND-188 Bad references for Day. Month. Value • FND-160 Additional Product Concepts • FND-161 Resolve issue regarding Interest. Rate having a Currency • FND-176 Erroneous geocentric definition in Time. rdf • FND-96 move Quantities etc. • FND-110 has. Monetary. Aount • FND-111 is. Submitted. To etc. • FND-155 restrictions on legal relations • FND-175 use of XSD v Values 37 Confidential EDM-Council/FIBO Foundations Content Team
JIRA New Comments • FND-102 Values. rdf has labels which do not follow our conventions • FND-24 on macroeconomics Confidential EDM-Council/FIBO Foundations Content Team 38
JIRA Status and Closures • Go to JIRA – Ones to close – Ones to investigate – Things to change net • E. g. Valuations JIRA FND-158 Confidential EDM-Council/FIBO Foundations Content Team 39
Other Remaining Workload • Not for March 30 Release • Means March 23 cut-off date • Note Reston OMG March 19 – 23 Confidential EDM-Council/FIBO Foundations Content Team 40
Loans Remaining Terms • Real. Property. Valuation requires Valuation – Conceptual model has this in broader framework of measurement – Add or bring forward to Provisional • Payment History; Scheduled Payment – Schedules in general • Prescriptive v descriptive occurrents – Occurr. ENCE v Occurr. ENT – See new treatment under Types – Identify Release (logical design) implementation for this Confidential EDM-Council/FIBO Foundations Content Team 41
Organizations • New definition – a unique framework of authority within which a person or persons act or are designated to act for some purpose such as to meet some need or pursue some goals. • Broader than the original. – Org not a child of Collection or of Group – it’s a separate thing. • Formal Organization sub unit – Added restriction to say it is a part of an Organization – New concepts from VMBO (consortium etc. ) Confidential EDM-Council/FIBO Foundations Content Team 42
Products Fine tuning • Review completed 2017 Q 4 mode content • Missing assertions for template / contractual products? – Or are they in another ontology? • Commitment v Product Commitment • Informative Line Item and related – Need to inform Loans to use something else that these are documentation of • Lifecycle v Product Lifecycle Confidential EDM-Council/FIBO Foundations Content Team 43
Other Things to Review • Transactions: – To be aligned with REA terms where these are surfaced within Release – Terminology to be aligned with REA (Obligations v Commitments not consistently named in current Release v Provisional). • Identify things that are not actually extensions and change IRIs accordingly, whether these remain as Informative or become Provisional • Review linkage to Commitment v Product Commitment in Release update of Products – We think that Product. Commitment can now be introduced as per Provisional work Confidential EDM-Council/FIBO Foundations Content Team 44
Duplicates • John Gemski spreadsheet analysis – Many duplications; most of these are inherited properties and restrictions as expected – Some actual duplicates detected • Example: has. Capacity • Overall analysis – types and reasons • What to do with these Confidential EDM-Council/FIBO Foundations Content Team 45
Duplicate Terms Analysis: Reasons • The same concept (to be deprecated) • Different concepts with the same name • The same business concept but framed with different semantics • Any of the above but we don’t know which yet • Property names anti-pattern hold-outs • Re-use of abstraction names for more specific concepts in Release Confidential EDM-Council/FIBO Foundations Content Team 46
Next Meeting • We meet weekly – Tuesday at 3 pm Eastern Time – FCT leads invited • Homework Calls (Fridays) • Next call – Next call 17 April 2018 Confidential EDM-Council/FIBO Foundations Content Team 47
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