TITLE:
Ontology-Driven Analytic Models for Pension Management and Decision Support System
AUTHORS:
Essien Joe, Martin Ogharandukun, Uloko Felix, Chukwudi Nnanna Ogbonna
KEYWORDS:
Data Analytic, Web Ontologies, Data Visualization, Resource Description Framework, Reasoner, SPARQL
JOURNAL NAME:
Journal of Computer and Communications,
Vol.11 No.10,
October
26,
2023
ABSTRACT: Ontology-Driven Analytic Models for Pension Management are sophisticated approaches that integrate the principles of ontology and analytics to optimize the management and decision-making processes within pension systems. While Ontology-Driven Analytic Models offer significant benefits for pension management, there are also challenges associated with implementing and utilizing the models. Developing a comprehensive and accurate ontology for pension management requires a deep understanding of the domain, including regulatory frameworks, investment strategies, retirement planning, and integration of data from heterogenous sources. Integrating these data into a cohesive ontology can be challenging. This research work leverages on semantic ontology as an approach for structured representation of knowledge about concepts and their relationships, and applies it to analyze and optimize decision support for pension management. The proposed ontology presents a formal and explicit specification of concepts (classes), their attributes, and the relationships between them and provides a shared and standardized understanding of the domain; enabling precise communication and knowledge representation for decision-support. The ontology deploys computational frameworks and analytic models to assess and evaluate data, generate insights, predict future pension fund performance as well as assess risk exposure. The research adopts the Reasoner, SPARQL query and OWL Visualizer executed over Java IDE for modelling the ontology-driven analytics. The approach encapsulated and integrated semantic ontologies with analytical models to enhance the accuracy, contextuality, and comprehensiveness of analyses and decisions within pension systems.