Information Systems, ICT; Meta-data semantic languages, Meta Modelling REA and UMM/UML, XBRL - Essay Example

beneficial to the users as well as XBRL to possibly use another Meta Model like REA? I will go onto doing an in depth analysis of the two meta models, comparing and contrasting the two models in question and discussing why modelling is important for meta-data semantic languages. Previously, financial information between two entities was passed in two ways hard copy or electronic copy wherein the documents are first scanned and then sent as an image file. The receiving companies are then forced to enter relevant contents of the file manually into their system however the manual entry process is prone to error (Wang, 2007).

To reduce the error, some companies developed ‘optical character recognition programmes’ (OCRP) that would read the entries from the electronically transmitted documents. As for the hard copies they are scanned by the company and then another optical character recognition programs is also used in reading the entries from the scanned document. These conventions are also prone to error since they are not perfect. OCRP normally map the documents first in coordinates, they are then made to scan and interpret the symbols found in the coordinates specified.

However, while the process proved to be faster than the conventional manual data entry, its accuracy has much to be desired. Since OCRP lacks the sophistication of the human eye that looks beyond the aesthetic of the character being read. Therefore, accuracy remains the challenge for this solution. (Ayalde, 2010) Consider the technology during the eighties, at that time data between organisations was exchanged through a remediation program that makes both organisations resources available to both users.

The logic of the remediation program is to get information from organisation (A’s) database to populate the database of organisation (B). This technique proved to be more accurate and faster than the previous solution involving OCRP. However, the problem exhibited by