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Ontology Versus Taxonomy as a Noun
Ontology differs from taxonomy (as nouns) because ontology means “the branch of metaphysics that addresses the nature or essential characteristics of being and of things that exist; the study of being qua being,” while taxonomy is “the science or the technique used to make a classification.”
Used as a noun, ontology may be defined as “in a subject view, or a world view, the set of conceptual or material things or classes of things that are recognised as existing, or are assumed to exist in context, and their interrelations; in a body of theory, the ontology comprises the domain of discourse, the things that are defined as existing, together with whatever emerges from their mutual implications,” while taxonomy means “a classification; especially, a classification in a hierarchical system.”
Ontology is “the theory of a particular philosopher or school of thought concerning the fundamental types of entity in the universe,” while taxonomy means “the science of finding, describing, classifying and naming organisms.”