Application of Ontology in Financial Assessment Based on Real Options in Small and Medium-Sized Companies

The paper entitled “Attempt to Extend the Knowledge of Decision Support Systems for Small and Medium-Sized Enterprises” [1] presented a prototype of an intelligent business forecasting system based on the real option approach to the prospective financial assessment of Small and Medium-Sized Enterprises (SME). This prototype integrates real options, financial knowledge, and predictive models. The content of the knowledge is focused on essential financial concepts and relationships connected with risk assessment, taking into consideration internal and external economic and financial information. In this project, the ontology is used to create the necessary financial knowledge model. The aim of this paper is to present the application of ontology in financial assessment based on real options approach to support financial assessment in an Early Warning System. In the paper, the process of creating a financial assessment ontology is described. The use created ontology in financial assessment based on the real options approach is discussed.