What's an ontology?
Basically, an ontology is a machine-readable web document which models some part of the "real world".

In Information Science, an ontology is a structured framework for representing knowledge within a domain (some culture).
More simply, it connects objects and concepts through defined relationships, creating a model that enables better data organization, interoperability, and intelligent automation.
The term originates from philosophy, where it refers to the study of being and existence.
In the context of information systems, ontologies provide a logical structure for understanding and categorizing information, making them must-haves for AI, enterprise knowledge management, and search technologies. Mathematically, ontologies are built on graph theory, which models relationships between entities using nodes and edges.
Unlike traditional databases or hierarchical taxonomies, ontologies allow for complex, multidimensional connections, making them especially valuable in fields where nuanced relationships drive decision-making.

Ontologies may provide the following benefits:
Persistent organizational memory:
Ontologies are consumable knowledge which can be stored, this means, processes are not lost if a key member leaves the organization.
Process modulation:
Ontologies may be used to add, or delete redundant processes, thus improving patient outcomes and productivity.
Instructional tool:
Ontologies may be useful as evidence to show managers where resources/money could be better placed.

All too often, ontologies are used merely as a taxonomy of things. My research is about making ontologies do useful things, especially, reflecting the classic notion of ontology as a 'snapshot' of reality.