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Demyst Data joins EDM Council as its newest member

Demyst Data is a technology platform partnering closely with the most innovative organizations to collaboratively take on the most detailed aspects of their data projects.

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EDM Council and National Institute of Standards and Technology (NIST) Collaborate

EDM Council and National Institute of Standards and Technology (NIST) Collaborate to Launch Ontology Development Infrastructure for the Manufacturing Industry

 

NEW YORK, Oct. 27, 2022 /PRNewswire/ — EDM Council, a cross-industry trade association focused on data management and analytics best practices, has teamed up with the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) to launch a collaborative program to standardize knowledge engineering and ontology development, including infrastructure, processes and guidelines to support data interoperability and analytics in manufacturing. The program will also support the Industrial Ontology Foundry (IOF), which will help in developing the processes and product modelling for the resulting data models.

The current data and analytics model that manufacturing firms use to develop products and implement manufacturing processes is very complex but lacks a universal set of data guidelines, which has led to cross-organizational production issues, delays, and heightened levels of risk. This project will leverage the infrastructure and processes of the EDM Council’s Open Knowledge Graph Innovation Lab to address these challenges, which are being used to build out other industry ontologies, including ontologies for the finance and pharmaceutical industries.

The new infrastructure will enable the IOF community, whose members include manufacturing firms, software vendors, academics and research institutes, to:

  • Formalize data definitions to improve data quality for the entire product life cycle, including product design & engineering, production planning, supply chain management, maintenance and service, and decommission
  • Create greater interoperability across industry and enterprise data
  • Improve issues related to data silos while helping to resolve lingering terminology conflicts
  • Automate data analyses which will improve productivity across the manufacturing supply chain
  • Enhance the development of Artificial Intelligence (AI) and Machine Learning (ML) capabilities

“This type of ontology supports the uses of the large amount of data this industry creates to bring production and supply chain efficiency, quality, and resiliency to the next level. By teaming up with the EDM Council, we will be able to deliver a platform for producing new, high-quality data standards that create strategic value for manufacturing professionals,” said Serm Kulvatunyou, project lead for the Biopharmaceutical Manufacturing and Supply Chain project at NIST and an IOF Board Member.

NIST promotes U.S. innovation and industrial competitiveness by advancing measurement science, standards and technology in ways that enhance economic security and improve quality of life.

“As processes and advancements in the manufacturing supply chain are becoming more sophisticated, the amount of data being created has amplified exponentially,” said John Bottega, President of the EDM Council. “By creating a consistent data quality ontology for the manufacturing sector in collaboration with NIST and IOF, we will collectively deliver the necessary capabilities that companies can implement in order to effectively manage their business.”

The infrastructure that supports the manufacturing ontology that will be developed in this project comes off of the success of the EDM Council’s Financial Industry Business Ontology (FIBO).

About EDM Council

EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 300 member organizations globally from the Americas, EMEA, and Asia, and more than 20,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, explore edmcouncil.org and follow us on LinkedIn and  Twitter.

About the Industry Ontology Foundry (IOF)

The Industry Ontology Foundry‘s mission is to create a set of core and open reference ontologies that spans the entire domain of digital manufacturing. The IOF works with Government, Industry, Academic and Standards organizations to advance data interoperability in their respective fields. The organization provides principles and best practices by which quality ontologies can be developed, while providing an organizational framework and governance processes that ensure conformance to principles and best practices for development, sharing, maintenance, evolution, and documentation of IOF ontologies.

University of Southampton joins EDM Council as newest member

The University of Southampton is a public research university in Southampton, England. Southampton is a founding member of the Russell Group of research-intensive universities in the United Kingdom, and ranked in the top 100 universities in the world.

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EDM Council welcomes QBE Insurance Group Limited as its newest member

QBE Insurance Group Limited is a general insurance and reinsurance company listed on the Australian Securities Exchange and headquartered in Sydney. The company employs more than 11,700 people in over 27 countries.

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Smart Nation and Digital Government Office joins EDM Council as newest member

Smart Nation and Digital Government Office (SNDGO), under the Prime Minister’s Office (PMO), plans and prioritizes key Smart Nation projects and drives the digital transformation of Singapore’s Government.

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Thomson Reuters joins EDM Council as a new member

Thomson Reuters is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre.

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EDM Council welcomes CDAO Services as its newest member

CDAO Services is a consulting firm, offering organisations a flexible and accelerated approach to generate business value faster and face today’s most complex and strategic challenges.

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EDM Council in CDO Magazine – ESG Is About the Whole Ecosystem

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Eric Bigelsen, Global Head of Industry Engagement and Senior Advisor for ESG, EDM Council, speaks with Robert Lutton, Vice President, Sandhill Consultants, about the role of ESG (Environmental, Social, and Governance) in making sustainability-focused decisions and the talent required for it.

According to Bigelsen, companies today have recognized that ESG is important for their business, their organization, and the industry. “Some companies are really adopting ESG or sustainable culture and it’s not entirely about what the regulators want. There are many other stakeholders that are part of the ecosystem as well — the investors, the asset owners, customers, and employees,” he says.

He mentions that companies that have developed sustainable cultures and want to do things that are good and positive for the environment tend to develop very good governance structures for their business.

Regarding the role of governments in enacting ESG standards, Bigelsen says that while there are organizations like the International Sustainability Standards Board and the new European Sustainable Standard Board, governments also have significant initiatives around ESG to make sure that their respective countries and companies are in line. Most countries across Europe (including the U.K.), as well as Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Singapore, Canada, and the United States, are driving toward more transparency.

Bigelsen also mentions that companies, too, are stepping away from simply greenwashing, and are doing their part to achieve the net-zero requirements by 2050.

Speaking on the talent side of ESG and the need for a sustainability-specific workforce, he says that while there are professionals in the field, there is an inadequate number of them to meet the current demand across organizations.

“There are going to be opportunities for folks on the technical side from a measurement standpoint, but then there are going to be a lot of people involved with data management, data governance. They could be involved with audit and assurance to make sure that when data is collected, that data is high quality and it’s gone through some degree of audit missions,” he adds.

He also adds that while COVID has made things virtual, it has also increased the awareness around sustainability and the environmental impact of our actions.

“This is raising the bar at a very interesting time when, in fact, many are focused on the climate-related issues associated with ESG on the environmental side. There’s definitely a lot more to be said about public health, sharing of information. Information is much more fluid and people can make better decisions. It has really affected us in many profound ways,” he concludes.

Fortanix joins EDM Council as its newest member

Fortanix is a data-first multi-cloud security company and a pioneer in Confidential Computing. They helps businesses of all sizes to modernize their data security solutions on-premises, in the cloud and everywhere in-between.

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TMX Group joins EDM Council as its newest member

TMX Group is a Canadian financial services company that operates equities, fixed income, derivatives, and energy markets exchanges.The company provides services encompassing listings, trading, clearing, settling and depository facilities, information services as well as technology services for the international financial community.

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