According to a 2023 Gartner® Adopt a Data Semantics Approach to Drive Business Value report “Growing levels of data volume and distribution are making it hard for organizations to exploit their data assets efficiently and effectively. Data and analytics leaders need to adopt a semantic approach to their enterprise data to drive business value and break data silos.” [1]
Some of the Key Findings of the Gartner report are:
● “Data silos become entrenched and limit an organization’s capacity to draw insights from its data. Without understanding the relationships within data, the individual pieces of information become less useful”
● “semantic models are necessary when you want to understand and describe how things work and relate, or you need to unambiguously exchange or reuse data.”
● “businesses that do not use semantic modeling are limited in their ability to source and integrate external data, or expose internal data for downstream tasks.”
● “application of generative AI technologies accelerates the process of populating a knowledge graph and tagging a document against known relationships. This technology lowers the barriers to rich data semantics and increases data interoperability.”
The report further states “Semantic AI: Combines selected semantic methods and tools that solve the most common use cases, such as classification and recommendation, in a precise manner. It is based on technical and organizational measures, which get implemented along the data life cycle.”
The process works like this:
(Diagram: Gartner, “Adopt a Data Semantics Approach to Drive Business Value”, 28 July 2023, Guido De Simoni, Robert Thanaraj, Henry Cook.)
illumex was cited as a semantic-AI vendor in the 2023 Gartner Adopt a Data Semantics Approach to Drive Business Value report.
In illumex, we believe that LLMs and knowledge graphs are natural partners for enhanced business outcomes.
According to Gartner “Organizations are driving significant initiatives to implement large language models. However, data and analytics leaders want to include LLM capabilities in their processes without the proper understanding of mapping these capabilities to business value.
Knowledge graphs are the appropriate target for exploiting LLMs for business value since they are machine-readable data structures, representing semantic knowledge of the physical and digital worlds.”
Some of the recommendations in the Gartner report are:
● “Link data from different sources together by using common meaning in the data to drive a better understanding of business scenarios.”
● “Leverage semantics to satisfy a conceptual definition of data by addressing the widest scope of interpretation and the smallest bias toward implementation strategy.”
● “Adopt large language models (LLMs) to support faster deployment of semantics representations to overcome complexity in accessing critical information at scale.”
Contact us to understand how to deploy Semantic AI to bring the most out of your data practice.
All quotes in this blog post are taken from:
[1] Gartner, “Adopt a Data Semantics Approach to Drive Business Value”, 28 July 2023, Guido De Simoni, Robert Thanaraj, Henry Cook
