After nearly three years I decided to stop working on XBRL Blog Magazine. It was a truly memorable and worthwhile experience. I enjoyed while I was reading the articles of my contributors on the blog but also from other sources (XBRL Business Information Exchange, Hitachi Data Interactive, LinkedIn groups 1-2-3-4-5, Twitter stream…) and imagining how will our semantic future look like.
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Where I live, in the UK’s West Country, a silo is somewhere you keep manure. Something smelly that you want to keep isolated from the rest of the farm. It’s not much different in IT data-management. A silo is an isolated datastore and much of the effort of corporate IT departments is focused on getting silos to talk to each other. So it’s useful to remember that XBRL is also an important mechanism for driving the data interchange used for integrating silos.
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The concept of XML/XBRL tagging has been explained to newcomers in many ways – barcodes for financial data has always been popular – but I must have missed this enlightening description involving items of Liz Hurley’s clothing, offered on the UK ICAEW IT Counts blog by Simon Hurst way back in 2008…
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Danny Werfel, the Comptroller for the Federal Office of Management and Budget (OMB) makes a good point when he states: “The way I approach it, and have collective agreement among the key leaders among leaders at Treasury, OMB, and other critical parties that are thinking about this, is that XBRL is the second question to ask.”
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It is a great expression: “eating your own dog food”. It conveys that wonderful idea that if it is good enough for others, it should be good enough for you. It is also a litmus test of the validity of a concept or idea. Imagine if Oracle used SAP for its internal and external reporting, supply chain management, etc. Imagine if doctors refused to take the drugs they prescribe. Isn’t it time that XBRL International (XII) and XBRL US inc (XUS) actually ate their own dog food?
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