Linked Data adoption and application within financial business processes: Part 1

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Chapter 5 Results from the systematic literature review:
5.1 Linked Data and the Web of Data (Web 3.0):
Nowadays the amount of digital data grows over more than 50% per year. Therefore any means to structure this data, becomes increasingly relevant (IDC, 2010). Next to that knowledge management and decision-making tasks rely on this data (Meijer et al., 2014). This justifies the necessity of a research work that discovers and illustrates the potential of LD, in terms of advantages and disadvantages, in improving current (financial) business processes and eventually even creating new business opportunities.
LD is a "set of best practices for publishing and connecting structured data on the Web" (Bizer et al., 2009) and ist essence consists of semantics and standards. The semantics capture the meaning of the data. The standards allow for interpretation because they imply how the meaning and relations should be set in order to enable digital exchange and processing (Folmer and Verdonk, 2014). This set of best practices has been adopted by a high and constantly increasing number of data providers allowing for the creation of a global data space that contains billions of assertions or the so called Web of Data (Bizer et al., 2009). More elaboration on the number of datasets, triples and ist growth rate will be provided in the next section.
The Web of data, also referred to as the Semantic Web or the Web 3.0, is a "global information space", in which not only the documents but also the data itself is linked (Bizer et al., 2009). It was conceived in 2001 (Berners-Lee et al., 2001). It is a large knowledge-base of sources that delivers (references) information as RDF files or through SPARQL endpoints. The idea behind it is to add machine-understandable, semantic annotation to web-published contents. That way they can be retrieved and effectively processed by humans and machines in a variety of tasks. This is done by attaching semantics to resources, from

Kathrin Kalcheva is a member of the "Linked Data Nederland" Community. She holds a B.Sc. in Business Administration from the TU Munich and graduated cum laude, earning a M.Sc. in Business Administration (Finance) at the University of Twente, Netherlands. The author is among the top 1% international graduates in the Netherlands and has received honours in Change Leadership. Also, she is an e-Fellows Scholar.
For more information please refer to: https://de.linkedin.com/pub/desislava-kalcheva-kathrin/13/693/424.