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A given term representing the ultimate goal of all translation,
converting data from one system to another without 'loss'.
The achievement of the goal is impossible because by definition
systems are differant. There makeup need only differ by the smallest
detail for it to be enough to alter the translated material by a
degree proportional to the original differance.
eg. This definition has been made by an individual (myself) who has
reached this point educated in a certain way, the definition is read
by another individual (you) who has been educated differantly.
Imperfect translation occurs because our experiance is differant.
The practical application of semantic translation has gained momentum
from the increasing need of converting large amounts of data from one
computer system to another. Shortfalls have been noted and the term
coined to represent the goal. See here for further details
http://www.safe.com/solutions/whitepapers/semantic_translation.htm