Git for Information; Git for Reporting

TerminusDB has created Git for data.  DFRNT and Twinfox is creating "Git for information" and "Git for reporting". XBRL, the Standard Business Report Model (SBRM) and the Seattle Method will be used to make this happen. Think Git for professional knowledge graphs.

Let me explain.

Git is a distributed version control system that tracks versions of files. Git is commonly used to control source code by programmers who are developing software collaboratively. GitHub is a proprietary platform that allows developers to create, store, manage, and share their code using Git.

While Git is not an official global standard sanctioned by a formal standards organization; its popularity and widespread use have made Git the "de facto standard for version control".

The "lack of fear of change" is perhaps one of the greatest innovations that revision control has given us for software code. What if you could achieve that same "lack of fear of change" for financial reporting?

TerminusDB has provided what amounts to Git-like operations for data. Push, Pull, Rollback, Branch, Merge, Squash, Time travel.  DFRNT, which is one of the owners of and is built on top of TerminusDB, has this feature built in.

Leveraging this Git-like capability for operations of data; DFRNT and Twinfox will provide a similar but even more enhanced capability for information and for knowledge.

To understand what this means, one first needs to understand the differences between data, information, knowledge, and insights/wisdom. Data is raw and unprocessed and tends to be understandable only in one, usually local, context.  Information is data that has been processed, classified, organized, and put into context, therefore understandable globally by anyone. Knowledge is refined and actionable information that has been further processed, organized, and/or structured in some way making the information super-useful and therefore valuable.  Insight and wisdom is even more valuable and come from applying knowledge to some specific situation such as making a decision.


To clarify this even more, it helps to consider the data product pyramid.  Here is a graphic which shows what is meant by data products, information products, knowledge products, and decision products:

Now, think of what I call a "block of information", see my Theory of Blocks and the examples of XBRL-based digital report blocks shown in the Showcase of XBRL-based Digital Report Capabilities. Think of Git for Information as operating on a block of information, "organism", level or maybe even on the "molecules" level which make up a block of information.  It seems to me that a report is at the Git for Knowledge level.

Imagine that this entire system sits on top of an immutable graph database like TerminusDB.  Imagine being able to do Git type operations when you are creating something like a financial report: push, pull, rollback,  branch, merge,  squash, time travel.  Imagine SQL type transaction processing such as "commit" and "rollback" at the information level or maybe even at the knowledge or report level.  Imagine all this being done using a global standard syntax, XBRL.  Imagine a built in DATALOG based reasoner and the ability to control things with global standard declarative business rules. Understand that all this is logic and meaning oriented which tends to be more consistent and stable as contrast to presentation oriented which tends to be way more arbitrary.

Now, imagine applying this to the creation of a financial report that might be submitted to the SEC or ESMA.  Rather than using the average of 800 spreadsheets used by the typical Fortune 500 company and hordes of accountants moving information between the spreadsheets which ultimately makes up the external financial report that goes to a regulator; what if you used Git for Financial Reporting?  And, what about Git for Accounting Working Papers?  Not exactly sure how this might apply to audit working papers.

Now you understand DFRNT and Twinfox. Imagine intelligence amplification by human-machine teaming; totally hallucination free. Imagine this not just for financial reporting, but rather for other subject matter experts (SMEs) doing work in different areas of knowledge.

Additional Information:

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