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Engineering and business implications of ontologies — A proposal for a minimum viable ontology

Since the Jetsons cartoon and in numerous science fiction movies, we have seen the future of smart machines. We know what it should be like. And we have been waiting for the smartness in our lives… In this paper, we argue that to meet the requirements from the Industry 4.0 transformation and begin to enable large scale smartness in production, it is essential to be able to differentiate and categorize data, products, and processes in a structured way to enable autonomous transfer of knowledge and information for machine-to-machine and machine-to-human communication. Our approach is to use semantic web technologies. We take a business-usefulness-approach making a pragmatic solution — a new concept called Minimum Viable Ontology (MV O). We will use examples from the Smart Homes and Building Automation Systems domain to explain our reasoning.