From Spreadsheet Hell to Data Heaven: A Path Forward

AI advancements in natural language processing offer exciting possibilities for analyzing complex data sets. But what if all that effort could be streamlined?

This article explores the potential pitfalls of individual knowledge graph creation and proposes a solution: standardized data sharing.

The Problem:

• Equity analysts face a mountain of reports – annual reports, supplier networks, and news articles.
• They use AI to analyze these connections and predict future trends.
• Unfortunately, this often means manually building their own knowledge graphs, a massive waste of time and resources.

Wouldn’t it be better if:

• Reports already contained the necessary semantic metadata (data about the data itself)?
• Industry-wide graphs were readily available, eliminating duplication?

Enter SBRM (Standard Business Report Model):

• This standard aims to create logically contextualized business documents, like financial reports.
• Imagine spreadsheets that “talk to each other” and seamlessly share information.
• SBRM promises to solve “spreadsheet hell” – the endless rework and duplication caused by incompatible data formats.

The Power of Connected Data:

• A standards-based knowledge graph fosters trust and interoperability across systems.
• Companies like EnterpriseWeb are developing unified graph architectures that treat all data as a single entity.
• This “hypergraph” approach lays the groundwork for enterprise-wide automation.

The Market Boom:

• The graph technology market is projected to surge from $3.25 billion in 2022 to $23.5 billion by 2032.
• The knowledge graph market, a subset of this, is also experiencing rapid growth.

Learning from Nature:

• Networked data systems mimic the organic growth and scale of the natural world.
• At its core, business revolves around human connections and interactions.

Collaboration is Key:

• Efforts like Ancestry.com and Blue Brain Nexus demonstrate the power of shared knowledge graphs.
• We need to break down data silos and encourage global sharing of valuable historical data.

The Takeaway:

Using standardized data exchange, we will help you harness the power of AI without wasting resources. Trust our Mindcraft team to pave the way for a future where data truly connects the dots.

Source: https://www.datasciencecentral.com/when-semantically-connected-data-matters-most/

https://www.polarismarketresearch.com/industries/Information-and-Communication-Technology

you might also like…