OWL is a web ontology language used to develop data models for the Semantic Web, Web 3.0. OWL was built from DARP Agent Markup Language(DAML, and Ontology Interface Layer(OIL). OWL builds on the Resource Description Framework(RDF).
Based on the Open World Assumption Model(OWA), supports the premise that in the absence of data, all things are possible. Supports description logics(DL) allowing the inference of new data through reasoning.
Alternatives for OWL
There are a number of alternatives for OWL. You can use RDF with RDF Schemas, Simple Knowledge Organization System(SKOS) or Rule Interchange Format(RIF). Determining which to use is dependent on the complexity of the project being undertaken. Experiment with a variety of tools to determine which method best suits the project being undertaken.
Selecting and Developing Ontologies(Vocabularies)
There are many vocabularies already developed. Many are products of work from vertical industries such as manufacturing, health care finance and communications where data was commonly exchanged across organizational boundaries, usually by Electronic Data Interchange(EDI). Vocabularies facilitate the linking of data across knowledge domains and around the web. Proper selection and development of these vocabularies is critical the success of publishing your data for public consumption. The development of classification systems traditionally falls into the domain of library sciences. A move towards the Semantic Web will drive the inclusion of new professionals into information technology organizations.