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Flare’s Energy Industry Taxonomies
Comprising an integrated set of Taxonomies, there are over 36,000 major terms. The taxonomies are hierarchical and include aliases, synonyms and acronyms and over 450,000 relationships. Additional taxonomy terms are added as part of Flare’s ongoing development of the taxonomy scope.
In 2020, for the Oil and Gas industry a sub-set of approximately 60,000 well log curve names were added.
Developments for 2021 include the addition of an Acronyms module.
The scope of the Taxonomies is illustrated in the graph below,
Master/Reference Data Model
A flexible master/reference data model allows use of the pre-existing master data model, and creation of new master data types, attributes and relationships.
In Sirus or the Sirus API, standard names and valid values can be made instantly available to any application.
What you can do with Taxonomies
Flare has been developing its taxonomies since 2002. The reason this will always be a work-in-progress is that Taxonomies are so much more dynamic than a static list of terms. Used properly, taxonomies can model a business, represent the knowledge in a business, and be used to streamline and improve many information systems. And just as businesses and their terminology change, so do the taxonomies that describe them.
For more information get in touch with us.