Facilitating Ontology Development with Continuous Evaluation

TL;DR

This paper introduces a continuous evaluation approach for ontology development, guiding users through quality assessments and recommendations to improve ontology completeness and correctness, especially aiding non-technical users.

Contribution

It presents an ontology completeness indicator and evaluation framework that simplifies ontology development for non-experts, demonstrated on a financial ontology with comparative analysis.

Findings

Effective guidance for ontology development process

Improved ontology quality through continuous evaluation

Successful application on Financial Instruments and Trading Strategies ontology

Abstract

In this paper we propose facilitating ontology development by constant evaluation of steps in the process of ontology development. Existing methodologies for ontology development are complex and they require technical knowledge that business users and developers don't poses. By introducing ontology completeness indicator developer is guided throughout the development process and constantly aided by recommendations to progress to next step and improve the quality of ontology. In evaluating the ontology, several aspects are considered; from description, partition, consistency, redundancy and to anomaly. The applicability of the approach was demonstrated on Financial Instruments and Trading Strategies (FITS) ontology with comparison to other approaches.