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Defining personalized concepts for XBRL using iPAD‐drawn fuzzy sets

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  • Marek Z. Reformat
  • Ronald R. Yager
  • Nhuan D. To

Abstract

An efficient and effective analysis of business data requires a better understanding of what the data represents, and to what degree. A human‐like way of accomplishing that without being too detailed yet learning more about data content is to summarize and map the data into concepts familiar to a person performing analysis. Processes of summarization help identify the most essential facts that are embedded in the data. All this is of significant importance for analysis of large amounts of business data required to make good and sound financial decisions. There are two aspects enabling more comprehensive yet easier processing of data: a standardized representation format of financial data; and a human‐friendly way of defining concepts and using them for building personalized models representing processing data. The first of the aspects has been addressed by the eXtensible Business Reporting Language (XBRL)—a standardized format of defining, representing and exchanging corporate and financial information. The second aspect is related to providing individuals with the ability to gain understanding of data content via determining a degree of truth of statements summarizing data based on their own perception of concepts they are looking for. In this paper, we introduce a tablet application—Tablet‐based input of Fuzzy Sets (TiFS)—and demonstrate its usefulness for entering personalized definitions of concepts and terms that enable a quick analysis of financial data. Such analysis means utilization of soft queries and operations of aggregation that extract and summarize the data and present it in a form familiar to analysts. The application allows for defining concepts and terms with ‘finger‐made’ drawings representing a person's perception of concepts. Further, these definitions are used to build summarization statements for exploring XBRL data. They are equipped with ‘drawn’ definitions of linguistic terms (e.g. LARGE, SMALL, FAST) and linguistic quantifiers (e.g. ALL, MOSTLY), and enable summarization of data content from the perspective of a user's interests. The ‘drawn’ linguistic terms and quantifiers represent membership functions of fuzzy sets. Utilization of fuzzy sets allows for performing operations of data summarization in a human‐like way. The application of TiFS illustrates ease of inputting personalized definitions of concepts and their influence on the interpretation of data. This introduces aspects of personalization and adaptation of artificial intelligence systems to perceptions and views of individuals. The proposed application is used to perform a basic analysis of an XBRL document.

Suggested Citation

  • Marek Z. Reformat & Ronald R. Yager & Nhuan D. To, 2018. "Defining personalized concepts for XBRL using iPAD‐drawn fuzzy sets," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 25(2), pages 73-85, April.
    • Handle: RePEc:wly:isacfm:v:25:y:2018:i:2:p:73-85
    DOI: 10.1002/isaf.1426
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    References listed on IDEAS

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    1. O'Riain, Seán & Curry, Edward & Harth, Andreas, 2012. "XBRL and open data for global financial ecosystems: A linked data approach," International Journal of Accounting Information Systems, Elsevier, vol. 13(2), pages 141-162.
    2. Alles, Michael & Piechocki, Maciej, 2012. "Will XBRL improve corporate governance?," International Journal of Accounting Information Systems, Elsevier, vol. 13(2), pages 91-108.
    3. Henderson, Dave & Sheetz, Steven D. & Trinkle, Brad S., 2012. "The determinants of inter-organizational and internal in-house adoption of XBRL: A structural equation model," International Journal of Accounting Information Systems, Elsevier, vol. 13(2), pages 109-140.
    4. Valentinetti, Diego & Rea, Michele A., 2012. "IFRS Taxonomy and financial reporting practices: The case of Italian listed companies," International Journal of Accounting Information Systems, Elsevier, vol. 13(2), pages 163-180.
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    1. Loureiro, Sandra Maria Correia & Guerreiro, João & Tussyadiah, Iis, 2021. "Artificial intelligence in business: State of the art and future research agenda," Journal of Business Research, Elsevier, vol. 129(C), pages 911-926.

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