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A possible future role of schema.org for business reporting

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The presentation demonstrates a vision for the “reporting extension” that could enhance the processes related to business reporting and the role it could have for the SBR vision.

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A possible future role of schema.org for business reporting

  1. 1. Mirek Sopek, Robert Trypuz, Dominik Kuziński The future role of schema.org for business reporting. From existing financial extension toward reporting extension.
  2. 2. WHY ARE WE DOING IT? An inspiration from the Day One 
  3. 3. WHAT IS SCHEMA.ORG? • Schema.org (2011), sponsored by the most important search engines: Google, Microsoft, Yahoo and Yandex, is a large scale collaborative activity with a mission to create, maintain, and promote schemas for structured data on the WEB pages and beyond. • It contains more than 2000 terms: 753 types, 1207 properties and 220 enumerations. • Schema.org covers entities, relationships between entities and actions. • Today, about 15 million sites use schema.org. Random yet representative crawls (Web Data Commons) show that about 30% of URLs on the web return some form of triples from schema.org. • Many applications from Google (Knowledge Graph), Microsoft (like Cortana), Pinterest, Yandex and others already use schema.org to power rich experiences. • Think of schema.org as a global Vocabulary for the web transcending domain and language barriers. • The principal authors of the schema.org conceptual framework are R. Guha, D. Brickley and P. Mika SCHEMA.ORG is THE MOST IMPORTANT and THE MOST POPULAR global DATA VOCABULARY
  4. 4. WHAT IS SCHEMA.ORG? http://bl.ocks.org/danbri/raw/1c121ea8bd2189cf411c/ http://schema.org
  5. 5. PRINCIPLE OF LEAST POWER - 1998 • Principle: Powerful languages inhibit information reuse. • Good Practice: Use the least powerful language suitable for expressing information, constraints or programs on the World Wide Web. • Tradeoff: Choosing between languages that can solve a broad range of problems and languages in which programs and data are easily analyzed SCHEMA.ORG is born out of this principle ! SIR TIM BERNERS LEE
  6. 6. SCHEMA.ORG USE SIMPLICITY – AN ILLUSTRATION http://finances.makolab.com/HTML/LoanStudents/LoanStudents.html
  7. 7. OF SCHEMA.ORG UNDER THE HOOD
  8. 8. UNDER THE HOOD OF SCHEMA.ORG • „The driving factor in the design of Schema.org was to make it easy for webmasters to publish their data. In general, the design decisions place more of the burden on consumers of the markup.” R.V. GUHA, D. DAN BRICKLEY, S. MACBETH – „Schema.org - Evolution of Structured Data on the Web” DESIGN DECISIONS • Derived from RDFS (RDF Schema) • Multiple inheritance hierarchy • POLYMORPHIC PROPERTIES - Each property may have one or more types as its domain and its range: „domainincludes” and „rangeincludes” DATA MODEL Make it easy to create – leave it to AI to consume & interpret!
  9. 9. UNDER THE HOOD OF SCHEMA.ORG USAGE MODELS • Under full control of site/messages/data publishers • Data EMBEDDED into page, data representation or into message markup (HTML, XML) • Harvested during standard crawling, message or data processing SERIALIZATIONS • RDFa - CANONICAL • Microdata (native to HTML5) • JSON-LD (now preffered)
  10. 10. UNDER THE HOOD OF SCHEMA.ORG CORE  HOSTED EXTENSIONS  EXTERNAL EXTENSIONS • CORE – „Core, basic vocabulary for describing the kind of entities the most common web applications need”* • HOSTED/REVIEWED EXTENSIONS – Domain specific basic vocabularies. • EXTERNAL EXTENSIONS – More specialized, fully independent domain specific vocabularies. Built by a third party. • Today: autos, finance, bibliography, health & life-sciences, iot EXTENSION MECHANISM: SEQUENCE OF SPECIFICITY * http://schema.org/docs/extension.html
  11. 11. UNDER THE HOOD OF SCHEMA.ORG CORE http://schema.org/<term> http://schema.org/<term> HOSTED EXT. http://<ext>.schema.org/<term> http://schema.org/<term> External EXT. http://<ext.domain>/<term> http://<ext.domain>/<term> CORE http://schema.org/Car http://schema.org/Car HOSTED EXT. http://auto.schema.org/Motorcycle http://schema.org/Motorcycle External EXT. http://fibo.org/voc/BusinessEntity http://fibo.org/voc/BusinessEntity EXTENSION MECHANISM: RULES FOR URI IDENTIFIERS Documentation URI: Canonical URI: EXAMPLES: RULES:
  12. 12. UNDER THE HOOD OF SCHEMA.ORG <div itemscope itemtype="http://schema.org/BankTransfer"> <h1>If you want to donate</h1> Send <span itemprop="amount" itemscope itemtype="http://schema.org/MonetaryAmount"> <span itemprop="amount">30</span> <span itemprop="currency" content="USD">$</span> </span> via bank transfer to the <span itemprop="beneficiaryBank">European ExampleBank, London</span> Put "<i itemprop="name">Donate wikimedia.org</i>" in the transfer title. </div> EXAMPLES - MICRODATA
  13. 13. UNDER THE HOOD OF SCHEMA.ORG <script type="application/ld+json"> {"@context": "http://schema.org/", "@type": "BankTransfer", "name": "Donate wikimedia.org", "amount": { "@type": "MonetaryAmount", "amount": "30", "currency": "USD" }, "beneficiaryBank": "European ExampleBank, London"} </script> EXAMPLES – JSON-LD
  14. 14. OF SCHEMA.ORG EXTENSIONS
  15. 15. CREATING EXTENSIONS TO SCHEMA.ORG • Extension URI: auto.schema.org • Designed as the first phase of the GAO project (Generic Automotive Ontology - http://automotive-ontology.org) • First step: extending core vocabulary by a minimal set of new terms (May 2015) • Second step: creating auto.schema.org hosted extension (May 2016) • Third step: creating POC of the external extension (March 2017) • Fourth step: production grade implementation by Toyota (http://ml.ms/schema4toyota) • Extension URI: finance(fibo).schema.org • Inspiration from FIBO project (Financial Industry Business Ontology – http://fibo.org ) • Going through BOC (Bag-Of-Concept) phase and using an „Occam Razor” approach. • First step: extending core vocabulary by a minimal set of new terms (May 2016) • Second step: creating fibo.schema.org hosted extension (published in pending.schema.org (March 2017)) • Third step: creating POC of the external extension (March 2017) AUTOMOTIVE EXTENSION FINANCIAL EXTENSION Creation process management: MakoLab
  16. 16. Extension of the core vocabulary by a minimal set of new terms (May 2016) The hosted extension (published March 2017) as pending.schema.org Collaborative project of an international group of individuals lead by MakoLab SA. Described in: http://schema.org/docs/financial.html Managed by MakoLab SA FINANCE.SCHEMA.ORG or FIBO.SCHEMA.ORG
  17. 17. The financial extension of schema.org refers to the most important real world objects related to banks and financial institutions: • A bank and its identification mechanism • A financial product • An offer to the client • Described in: http://schema.org/docs/financial.html Thing CLASSES Action TransferAction MoneyTransfer Intangible Service FinancialProduct BankAccount DepositAccount CurrencyConversionService InvestmentOrDeposit BrokerageAccount DepositAccount InvestmentFund LoanOrCredit CreditCard MortgageLoan PaymentCard + PaymentService StructuredValue ExchangeRateSpecification MonetaryAmount RepaymentSpecification FINANCE.SCHEMA.ORG or FIBO.SCHEMA.ORG
  18. 18. The financial extension of schema.org refers to the most important real world objects related to banks and financial institutions: • A bank and its identification mechanism • A financial product • An offer to the client • Described in: http://schema.org/docs/financial.html FINANCE.SCHEMA.ORG or FIBO.SCHEMA.ORG
  19. 19. A BANK A DEPOSIT ACCOUNT A PAYMENT CARD THE BASIC MODELS OF THE FINANCIAL OBJECTS FINANCE.SCHEMA.ORG or FIBO.SCHEMA.ORG
  20. 20. OF SCHEMA.ORG THE APPLICATIONS
  21. 21. THE APPLICATIONS OF SCHEMA.ORG Traditional: RANK ANALYSE SEARCH New: REPORT
  22. 22. SUMMARY OF “RANK” BENEFITS OF SCHEMA.ORG • CTR increase (Rich Snippets effect) • Better Brand visibility (Knowledge Panels and Factual Answers) • Better Product positioning (Rich snippets & Tabular results) • Faster way to reach searched content (more sitelinks) • Better mobile device experience of search 11.09.2015 – Google: „Over time, I think it [structured markup] is something that might go into the rankings as well. If we can recognize someone is looking for a car, we can say oh well, we have these pages that are marked up with structured data for a car, so probably they are pretty useful in that regard. We don’t have to guess if this page is about a car.” John Mueller / Webmaster Trends Analyst @Google RANK
  23. 23. FINANCIAL EXTENSION SCHEMA.ORG POC • http://finances.makolab.com • Full use of fibo.schema.org • Definitions of financial dimensions • Analytics with Google “GA” PROOF-OF-CONCEPT ANALYSE
  24. 24. POC’S PAGE JSON PROPERTY DIMENSION DIMENSION NAME BankAccount.html price Bank Account Fee Price name Financial Product Name Financial Product Name BrokerageAccount.html minValue Brokerage Account Minimum Investment Minimum name Financial Product Name Financial Product Name CreditCard.html annualPercentageRate Credit Card APR Percentage Rate minValue Credit Card Required Collateral Minimum price Credit Card Annual Fee Price name Financial Product Name Financial Product Name CreditCard8.html name Financial Product Name Financial Product Name minValue Credit Card Limit Minimum PaymentService.html name Financial Product Name Financial Product Name FinancialProducts.html name Financial Product Name Financial Product Name minValue Minimum Insurence Coverage Minimum maxValue Maximum Insurence Coverage Maximum ANALYSEFINANCIAL EXTENSION SCHEMA.ORG POC
  25. 25. TRUE DATA ANALYTICS ANALYSE
  26. 26. INTELLIGENT/SMART SEARCH BASED ON SCHEMA.ORG MARKUP Mark your product data with schema.org markup Run the smart Search Crawler for an Enterprise Website Check for schema.org markup (Microdata or JSON-LD) When markup is found, create property map and assign values Display enhanced search results SEARCH
  27. 27. THE APPLICATIONS OF SCHEMA.ORG From existing financial extension toward reporting extension. REPORT
  28. 28. REPORTTHE RELEVANT DEVELOPMENT THE USE OF SEMANTIC WEB STANDARDS • „Publishing XBRL as Linked Open Data” (Roberto García & Rosa Gil, Universitat de Lleida) • „Triplificating and linking XBRL financial data” (Roberto García & Rosa Gil, Universitat de Lleida) • „Adopting Semantic Technologies for Effective Corporate Transparency” (Maria Mora-Rodriguez, Ghislain Auguste Atemezing, Chris Preist) • „Financial Report Ontology” (Charles Hoffman) • FRO – „Financial Regulation Ontology” (Jurgen Ziemer - http://finregont.com/ )
  29. 29. THE RELEVANT DEVELOPMENT THE EVOLUTION TOWARD SIMPLICITY WITHIN XBRL WORLD • „Open Information Model” - https://specifications.xbrl.org/work-product- index-open-information-model-open- information-model.html The Open Information Model provides a syntax-independent model for XBRL data, allowing reliable transformation of XBRL data into other representations. The work product includes: xBRL-XML, xBRL-JSON, xBRL-CSV, OIM Common. • XBRLS - XBRL Simple Application Profile (how a simpler XBRL can make a better XBRL) • Inline XBRL - https://specifications.xbrl.org/spec-group-index- inline-xbrl.html REPORT
  30. 30. REPORT * Charles Hoffman: http://xbrl.squarespace.com/journal/2008/12/18/hello-world-xbrl-example.html HOW COULD IT WORK? INITIAL EXCERSISE “I”- XBRL „Hello World”* expressed as schema.org compliant markup • Converting taxonomy (XSD) to OWL ontology (with help of: http://rhizomik.net/html/redefer/) • Writing schema.org compliant JSON-LD markup • USING ONLY existing schema.org constructs !!!
  31. 31. REPORTHOW COULD IT WORK? INITIAL EXCERSISE “II”- iXBRL example • Based on https://www.xbrl.org/ixbrl- samples/valeo-income-statement.html • Expression of the data semantics in JSON-LD – schema.org compliant markup • Instance of schema.org:Report class • A few more constructs extending schema.org
  32. 32. HOW COULD IT WORK? INITIAL EXCERSISE “III”- GAAP TAXONOMY IN SCHEMA.ORG FORMAT • SOURCE: PROPOSED 2018 US GAAP FINANCIAL REPORTING TAXONOMY • HOW: Extracting parent-child taxonomy with the definitions of terms + schema.org-like RDFa formatting of the obtained model • RESULT: http://sdo-gaap-ee.appspot.com/GrossProfit
  33. 33. HOW COULD IT WORK? INITIAL EXCERSISE “IV”- PART OF SBR (AU) TAXONOMY IN SCHEMA.ORG FORMAT • SOURCE: The Australian Government Standard Business Reporting Taxonomy • HOW: Extracting parent-child taxonomy with the definitions of terms + schema.org-like RDFa formatting of the obtained model* • RESULT: http://sdo-sbr-ee.appspot.com/RelativePeriodDurationDimension http://sdo-sbr-ee.appspot.com/SalesAndMarketing http://sdo-sbr-ee.appspot.com/PrimaryProduction * With help of Xwand software provided by FQS Poland Identified Problems while converting SBR (AU): • Mixing types and properties in one taxonomy • Mixing „is-a” and „instance-of” • Individuals play a role of types • Inconsistent taxonomies • Unclear rationale for some types
  34. 34. CURRENT & FUTURE DEVELOPMENT CREATION of SCHEMA.ORG extensions and their applications • The external extension based on selected XBRL taxonomies (like GAAP, IFRS or SBR) • Working with OIM specification on the schema.org-like instance data representation • Creation of implementation guidelines and live POC • Working with interested parties on the real-life tests • Building AI-like framework to interpret large amount of instance data • Critical evaluation of the project • If successful - proposing the HOSTED EXTENSION to schema.org In general - Adopting the philosophy of bottom-up, empirical approach to the creation of reporting data models REPORT
  35. 35. DON’T HESITATE TO CONTACT US! Dr MIREK SOPEK MakoLab’s CTO sopek@makolab.com Poland: MakoLab SA, Demokratyczna 46, 93-430 Lodz, Poland Phone: +48 600 814 537, www.makolab.com USA: Makolab USA Inc, 20 West University Ave, Gainesville, FL 32601 Phone: +1 551 226 5488 , www.makolab.com Dr ROBERT TRYPUZ MakoLab SA Rzgowska 30 93-172 Łódź Poland robert.trypuz@makolab.com INDUSTRY MakoLab SA Rzgowska 30 93-172 Łódź Poland robert.trypuz@makolab.com ACADEMIA JPII University Lublin, Poland trypuz@kul.pl DOMINIK KUZIŃSKI MakoLab SA Demokratyczna 46 93-430 Łódź Poland dominik.kuzinski@makolab.com

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