With the Web 2.0, ontologies are being used to improve search capabilities and make inferences for improved human or computer reasoning. By relating terms in an ontology, the user doesn’t need to know the exact term actually stored in the document. Data Rationalization is a Managed Meta Data Environment (MME) enabled application which creates/extends an ontology for a domain into the structured data world, based on model objects stored in various models (of varying levels of detail, across model files and modeling tools) and other meta data. Ontology is “the study of the categories of things that exist or may exist in some domain”1. An ontology is comprised of “a collection of taxonomies and thesauri”2 about a domain. Data Models, often unknowingly, express many aspects of ontology, even though they are not stored in OWL or RDF.

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