An Ontology based on the Methodology Proposed by Ushold and King

A number of methodologies are available in literature for ontology development but as the Ontology engineering field is relatively new, it is still unclear how the existing ontology building methodologies can be applied to develop semantic ontology models. In this work, firstly an overview of various ontology building methodologies and their limitations as compared to some standard software development methodologies are presented. Then the methodology proposed by Ushold and King is selected to build an ontology in e-banking domain. The challenge in this domain is to recognize, communicate and steadily improvise the banking solutions. The ontologies are prospective candidates to assist overcome these challenges and enhance interoperability of banking data and services. The study aims to provide direction for the application of existing ontology building methodologies in the Semantic Web Development processes of e-banking domain specific models which would enable their reusability and repeatability in other projects and strengthen the adoption of semantic technologies in the domain.