13. A non-transitory machine readable medium having stored thereon instructions for updating an ontology in a database comprising executable code which when executed by one or more processors, causes the one or more processors to: scan one or more databases to determine when at least one of the one or more databases is ready to update; receive an indication for updating at least one of the one or more databases to accommodate data, when the determination indicates that the at least one of the one or more databases is ready to update; parse a first ontology associated with at least one table in the at least one of the one or more databases; create a second ontology that describes the data to is accommodated; map the parsed first ontology on to the created second ontology; analyzing the mapping of the first ontology on to the created second ontology; determine one or more differences between the first and the second ontologies based on the analyzing; recommend one or more changes to the second ontology based on the determined one or more differences between the first and the second ontologies; and update the created second ontology based on the recommended one or more changes to the second ontology.
13. A non-transitory machine readable medium having stored thereon instructions for updating an ontology in a database comprising executable code which when executed by one or more processors, causes the one or more processors to: scan one or more databases to determine when at least one of the one or more databases is ready to update; receive an indication for updating at least one of the one or more databases to accommodate data, when the determination indicates that the at least one of the one or more databases is ready to update; parse a first ontology associated with at least one table in the at least one of the one or more databases; create a second ontology that describes the data to is accommodated; map the parsed first ontology on to the created second ontology; analyzing the mapping of the first ontology on to the created second ontology; determine one or more differences between the first and the second ontologies based on the analyzing; recommend one or more changes to the second ontology based on the determined one or more differences between the first and the second ontologies; and update the created second ontology based on the recommended one or more changes to the second ontology. 14. The non-transitory machine readable medium of claim 13 , wherein the executable code when executed by the processors further causes the one or more processors to: export the updated ontology to a data modeler that modifies the at least one table in the database or creates a new table in the database.