Observations on trends, business issues, and financial opportunities for individuals and enterprises related to prediction markets, decision support, Enterprise 2.0, social networking, privacy, and web security.

Monday, July 14, 2008

Semantics

In the technology realm one constantly sees references to knowledge management, business intelligence, data mining, artificial intelligence, collective wisdom, collective insight, etc. While this nomenclature typically refers to specific actions or tools, the implied meanings derived from the separate elements of these combined words must be considered carefully, especially when this implied meaning drives expectations of the benefit derived from implementing technologies in these respective areas.

To clarify this potential semantic ‘confusion’ a quick search of definitions at dictionary.com can prove helpful. The complete definition is available via the link however critical elements of the definition are listed below:

  • Data: facts; statistics; information
  • Intelligence: capacity; aptitude
  • Knowledge: personal knowledge; result of study or experience; facts, truths, principles
  • Wisdom: knowledge of what is true or right; judgment
  • Insight: instance; apprehending the true nature.

Classification of the various actions and tools under these categories does not necessarily imply definitional accuracy. Careful consideration should always be given to what is really being delivered versus being swayed by the nomenclature’s ‘semantic lens.’

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