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Object Management Group Publishes Augmenting Data Sets with Semantics Request for Information
Standards Development Organization seeks comments on the challenges of augmenting data with semantics for interpretation and reuse
BOSTON, MA – OCTOBER 1, 2024 – Today, Object Management Group® (OMG®) Standards Development Organization (SDO) published the Augmenting Data Sets with Semantics Request for Information (RFI) to seek industry input on potential future standardization efforts to address the challenges of augmenting data with semantics. Anyone may respond to this RFI.
An RFI intends to gather information to guide an OMG subgroup in its efforts to provide solutions to industry problems. A subgroup uses the RFI process to canvass a targeted industry segment for one or more of the following purposes:
- Acquiring general or specific information about industry requirements.
- Soliciting assistance in identifying potential technology sources.
- Soliciting input to validate the roadmap of a subgroup.
The RFI process guides whether Request for Proposals (RFPs) will be issued (and, based on negative feedback, which will not) or will influence how a particular RFP is constructed.
This RFI is issued by OMG's Financial Sector Domain Task Force (FSDTF) to gather input concerning the challenges of augmenting data, particularly market, commercial, and other critical financial data, with metadata providing semantics that assist with interpreting and reusing that data. The effort is motivated by financial sector use cases in which organizations that have either licensed or otherwise have access to business-critical data sets need additional information about those data sets for automated processing purposes.
We are looking for respondents to comment on the usefulness, importance, and parameters of a possible specification that could address the issues related to communicating a dataset's semantics. The FSDTF expects that other industry sectors will benefit from the results of this RFI, but the focus at this time is on responses clarifying the needs of the financial sector.
"Our members developed this RFI because they envision a world where every data set, such as CSVs, has the data descriptions - its semantics - included, rather than data users having to search for them online or in books," said David Blaszkowsky, FSDTF Co-chair at OMG, Managing Director of the Financial Semantics Collaborative, and Founding Director of the SEC's Office of Interactive Disclosure. "With industry participation, this RFI is the first step in OMG's standards development process that will deliver a well-designed standard that will serve the financial information marketplace and support financial systemic stability."
You may respond to this RFI document by downloading it, answering the questions, and returning your response to [email protected], or you may respond online. The online survey link contains the same questions as the published RFI document, and you may respond using either method at your convenience.
The deadline for responses to this RFI is November 11, 2024.
About OMG
The Object Management Group® (OMG®) is an international, open membership, not-for-profit technology standards consortium with representation from government, industry and academia. OMG Task Forces develop enterprise integration standards for a wide range of technologies and an even wider range of industries. OMG's modeling standards enable powerful visual design, execution and maintenance of software and other processes. Visit www.omg.org for more information.
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