Accepting the XBRL Challenge with Linked Data for ... · :fact1 7.4B SEC Balance Sheet (1193125-11-207804) qb:dataSet Analysts issuer concept value :fact2 500 Yahoo Daily Stock Market

KIT – University of the State of Baden-Wuerttemberg and

National Research Center of the Helmholtz Association www.kit.edu

Institute of Applied Informatics and Formal Description Methods (AIFB)

Accepting the XBRL Challenge with Linked Data for Financial Data Integration

Benedikt Kämpgen, Tobias Weller, Sean O’Riain, Craig Weber, Andreas Harth

11th ESWC 2014 In-Use

27 May 2014

Institute of Applied Informatics and

Formal Description Methods (AIFB) 2 27 May 2014

Mechanics in Financial Analysis

B. Kämpgen et al., Linked Data for Financial Data Integration

Task: Find value of Assets of a company 三精輸送機

Exa

mple

Cra

ig W

ebe

r





Task: Find value of Assets of a company 三精輸送機

Exa

mple

Cra

ig W

ebe

r





Extensible Business Reporting Language (XBRL): Describes business reporting

information in an XML format, for exchange, and comparison [XBRL SPEC].

Exa

mple

Cra

ig W

ebe

r


Formal Description Methods (AIFB) 5 27 May 2014 B. Kämpgen et al., Linked Data for Financial Data Integration

XBRL – Example

Mastercard

11.34B USD

Total Current Assets

Q1 2014

http://www.sec.gov/edgar/

searchedgar/webusers.htm

http://www.sec.gov/edgar/searchedgar/webusers.htm






Formal Description Methods (AIFB) 6 27 May 2014 B. Kämpgen et al., Linked Data for Financial Data Integration

XBRL – Example

Mastercard

11.34B USD


Q1 2014










XBRL – Example

Mastercard

11.34B USD


Q1 2014

U.S. Securities and

Exchange publishes

balance sheets of

8,000 U.S. companies











XBRL – Data Model


Concept

Simplified structure of XBRL



Outline


XBRL – Challenges to Data Integration

Financial Information Observation System (FIOS)

FIOS in the XBRL Challenge

Benefits of Semantics

FIOS Competitors






?

XBRL ... ...

Analysts

Data Sources



XBRL – Challenges to Data Integration –

(1)


?

SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Problem:

No globally accepted

schema for finance data

Example:

Balance sheets from SEC

Stock Market values from

Yahoo! Finance

Number of employees from

Wikipedia




(2)


?

SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Problem:

Different taxonomies per

branch, country, version

No alignment of taxonomies

Example:

Total Assets from

US-GAAP 2009, 2011




(3)


?

SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Problem:

Missing unique identifiers

for companies

Example:

Earnings per Share vs.

Price per Share

1141391 / MA / Mastercard



Outline






FIOS Competitors




Financial Information Observation

System (FIOS)

Online Analysis

components

Offline ETL

components


?

SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

fios – Gaelic „Knowledge“



FIOS – How to find relevant

information?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Yahoo Mastercard (MA)

SEC Mastercard (1193125)

Wikipedia Mastercard

SEC

Edgar

Yahoo!

Finance Wikipedia

SEC Balance Sheet (Q3 2011)

Yahoo Daily Stock Market Table (2010-12-01)




information?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

yahoo:ticker/MA#id

edgar:cik/1141391#id

dbpedia:Mastercard

SEC

Edgar

Yahoo!

Finance Wikipedia

edgar:archive/1141391/1193125-11-207804#ds

yahoo:archive/MA/2010-12-01#ds




information?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

yahoo:ticker/MA#id


dbpedia:Mastercard

SEC

Edgar

Yahoo!

Finance Wikipedia

edgar:archive/1141391/1193125-11-207804#ds





information?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

yahoo:ticker/MA#id


dbpedia:Mastercard

SEC

Edgar

Yahoo!

Finance Wikipedia

edgar:archive/1141391/1193125-11-207804#ds




FIOS – How to describe

finance data?


SEC

Edgar

Yahoo!

Finance Wikipedia

Data Sources

XBRL CSV HTML

HTTP GET/Ajax :fact1

7.4B

SEC Balance Sheet

(1193125-11-207804)

qb:dataSet

Analysts

value




finance data?


SEC

Edgar

Yahoo!

Finance Wikipedia

Data Sources

XBRL CSV HTML


7.4B

SEC Balance Sheet

(1193125-11-207804)

qb:dataSet

Analysts

issuer

concept

value

Assets

1141391

2012 time




finance data?


SEC

Edgar

Yahoo!

Finance Wikipedia

Data Sources

XBRL CSV HTML


7.4B

SEC Balance Sheet

(1193125-11-207804)

qb:dataSet

Analysts

issuer

concept

value

:fact2

500

Yahoo Daily Stock Market

Table (2010-12-01)

qb:dataSet

subject

company

value

Assets

Closing

Price

1141391

MA

2010

2012 time

time




finance data?


SEC

Edgar

Yahoo!

Finance Wikipedia

Data Sources

XBRL CSV HTML


7.4B

SEC Balance Sheet

(1193125-11-207804)

qb:dataSet

Analysts

issuer

concept

value

:fact2

500

Yahoo Daily Stock Market

Table (2010-12-01)

qb:dataSet

subject

company

value

Assets

Closing

Price

1141391

MA

2010

2012 time

time

Equivalence

Links



FIOS – How to consider

equivalence?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store dbpedia:Mastercard




FIOS – How to consider

equivalence?


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store dbpedia:Mastercard


fios:Mastercard

• Entity

Consolidation

[Hogan 2011]

• considering

properties

• adding

normalisation



Financial Information Observation

System (FIOS)


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Online Analysis

components

Offline ETL

components

Triple Store



FIOS – How to allow analyses over

finance data in RDF?

Shneiderman‘s

Information Seeking Mantra

Overview first

Zoom and filter

Details on demand


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

Overview Zoom Details

How to make analysts trust the data?



FIOS – Overview First


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates Zoom Details

Total Assets for

MASTERCARD INC



FIOS – Overview First


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates Zoom Details

Total Assets for

MASTERCARD INC



FIOS – Zoom and Filter


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates

OLAP

Interface Details



FIOS – Zoom and Filter


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates

OLAP

Interface Details



FIOS – Details on demand


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates

OLAP

Interface

LD

Browser



FIOS – Details on demand


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates

OLAP

Interface

LD

Browser



Outline






FIOS Competitors




FIOS in the XBRL Challenge – Setup

XBRL Challenge

64 companies (finance, insurance and real estate)

3,781 financial concepts

On average ETL components took 25min

Setup

2673.330 MHz CPU and 1GB memory


[FIOS] http://fios.linked-data-cubes.org/FIOS_2_0/Queries/

http://fios.linked-data-cubes.org/FIOS_2_0/Queries/







FIOS in the XBRL Challenge –

Implementation


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Edgar Wrapper

Yahoo! Finance Wrap

DBpedia / Freebase

LDSpider

RDF Data Cube

Vocabulary, SKOS...

Open Virtuoso

Mapping tables

(e.g., Ticker-to-CIK)

fios-etl.jar

SPARQL 1.1

Pubby SPARK

Saiku+olap4ld

RSS Feed

with new filings

Triple Store

SPARQL

templates

OLAP

Interface

LD

Browser



FIOS in the XBRL Challenge –

Implementation


SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

[Edgar Wrapper]

[Yahoo! Finance Wrap]

DBpedia / Freebase

LDSpider

RDF Data Cube

Vocabulary, SKOS...

Open Virtuoso

Mapping tables

(e.g., Ticker-to-CIK)

[fios-etl.jar]

SPARQL 1.1

Pubby SPARK

Saiku+olap4ld

RSS Feed

with new filings

Triple Store

SPARQL

templates

OLAP

Interface

LD

Browser



Outline






FIOS Competitors






Task Benefit

1) Identification & Acquisition Modular access mechanisms

2) Modelling & Linking Unified schema, vocabularies (QB/OWL)

3) Preprocessing & Loading Well-defined equivalence semantics

4) Analysis SPARQL 1.1, linking between interfaces





Task Benefit









Task Benefit





Earnings per Share versus Price per share for MASTERCARD INC





Task Benefit








Opportunity: Continuously adding new sources


Task Benefit





Challenge Example

Seamless integration of interfaces

and (new) data

Aggregated / densely displayed entities

Increase quality with new data Ticker-CIK mapping evolves over time

Scale with new data Analytical queries over many facts,

Regularly loading of data



Outline






FIOS Competitors




FIOS Competitors


Work\Source XBRL Stock

Quotes

Background

Info

Focus

Calcbench /

Sector3

++ - - Robustness, Search,

Update intervals, Excel

integration

BIXL /

Midas

+ - + Semi-structured

sources, multi-linguality

FIOS + + + Integration of structured

data sources



Conclusions

XBRL promising for Finance and SW people

SW ready to help analysts with mechanics

Opportunity to continuously add data sources




Thanks!


Benefit ofSemantics

Modular access mechanisms

Unified schema, vocabularies

Well-defined equivalence semantics

SPARQL 1.1, linking between interfaces SEC

Edgar

Yahoo!

Finance Wikipedia

Analysts

Data Sources

XBRL CSV HTML

HTTP GET/Ajax

Triple Store

SPARQL

templates

OLAP

Interface

LD

Browser



References

[XBRL SPEC] http://www.xbrl.org/Specification/XBRL-2.1/REC-2003-12-31/XBRL-2. 1-REC-

2003-12-31+corrected-errata-2013-02-20.html

[XBRL example]

http://www.sec.gov/Archives/edgar/data/52827/000119312510238973/0001193125-10-

238973-index.htm

[Hogan 2011] Hogan, A., Harth, A., Umbrich, J., Kinsella, S., Polleres, A., Decker, S.:

Searching and browsing Linked Data with SWSE: The Semantic Web Search Engine.

Web Semantics: Science, Services and Agents on theWorld WideWeb 9, 365–401 (2011)

[KH2013] Kämpgen, B., Harth, A.: No Size Fits All - Running the Star Schema Benchmark

with SPARQL and RDF Aggregate Views. In: ESWC (2013)

[Yahoo! Finance Wrap] http://yahoofinancewrap.appspot.com/

[Edgar Wrapper] http://edgarwrap.ontologycentral.com/

[fios-etl.jar] https://code.google.com/p/fios-etl/


http://www.xbrl.org/Specification/XBRL-2.1/REC-2003-12-31/XBRL-2. 1-REC-2003-12-31+corrected-errata-2013-02-20.html



























http://www.sec.gov/Archives/edgar/data/52827/000119312510238973/0001193125-10-238973-index.htm







http://yahoofinancewrap.appspot.com/

http://yahoofinancewrap.appspot.com/

http://edgarwrap.ontologycentral.com/

http://edgarwrap.ontologycentral.com/

https://code.google.com/p/fios-etl/





Documents

Accepting the XBRL Challenge with Linked Data for ... · :fact1 7.4B SEC Balance Sheet (1193125-11-207804) qb:dataSet Analysts issuer concept value :fact2 500 Yahoo Daily Stock Market