This post is part of Series Business Intelligence – Tools & Theory
Currently running topic for this series is listed as below :
Series Business Intelligence – Tools & Theory
>>Chapter 1 : Business Intelligence an Introduction
>>Chapter 2 : Business Intelligence Essentials
>>Chapter 3 : Business Intelligence Types
>>Chapter 4 : Architecting the Data
>>Chapter 5 : Introduction of Data Mining
>>Chapter 6 : Data Mining Techniques
>>Chapter 7 : Introduction to Data Warehousing
>>Chapter 8 : Different Ways of Data Warehousing
>>Chapter 9 : Knowledge Management<You are here>
Continuing from my previous post on this series, If you have missed any link please visit link below
We are going to Cover the Following Points in this article
- Knowledge Management
- Characteristics of Knowledge Management
By now you must be familiar with the concepts of Business Intelligence. Knowledge is defined as the utilization of information and data coupled with the potential of people such as the skills, competencies, various ideas, intuitions and commitment. The holistic view describes that the knowledge is present in the thoughts, ideas, judgments relationships, various concepts and the perspectives. However, knowledge is stored in the brain of the individual as well as encoded in the various process groups, documents, services, products and systems of the organization. However, for knowledge to have its values, it must be well used, focused, current, tested and shared.
The management of the knowledge is performing an audit of the various assets of the intellect that is responsible for performing critical functions. It performs audit of the potential bottlenecks that is responsible for hindering the flow of knowledge to the point of use.
Thus, the management discipline that enhances the processing knowledge of the organization is called as Knowledge Management. It is the systematic process of finding, selecting, organizing, distilling and presenting the information in such a way that the comprehension of the employees are improved in a specific area of interest.
Characteristics of Knowledge Management
The primary characteristic of the Knowledge Management is to determine what information of the employees in an organization qualifies as Valuable. All information is not knowledge, and all knowledge is not valuable. The key is to find the worthwhile knowledge within a vast sea of information. However, there are various other characteristics of Knowledge Management. Some of them include1:
· Knowledge Management is about people. It is directly associated to what people know, and how the knowledge of the people can support the business and objectives of the organization. It prevents the intellectual assets of the people from decay. It facilitates various opportunities that enhance decision making. It mainly draws on human competency, intuition, ideas and inspirations. It not a tool or a technology based concept.
· Knowledge Management is orderly and goal directed: It is associated with the objectives and goals of the organization. It is responsible for using the information that has meaning, practical and that which can be used for a purpose.
· Knowledge Management is ever changing: It does not have a rigid and specific law that is immutable. It is responsible for constantly testing, updating and revising the knowledge on a regular basis. It is a fluid and an ongoing process.
· Knowledge Management is value added: It is responsible for illustrating the relationships, alliances. Thus, the organizations can further facilitate the two way exchange of ideas and information by bringing in the experts from a specific field to educate or advise the managers of the organization for further development. The cohesiveness of the organization can further be created by influencing various forums and councils.
· Knowledge Management is visionary: The vision of the organization is expressed in strategic terms of the business rather the technical terms. This facilitates enthusiasm and further motivates the managers of the organization to work together towards reaching the common goals.
· Knowledge Management is complementary: It enhances and increases the initiatives of the organization such as Total Quality Management (TQM), Business Process Reengineering (BPR). It provides flexibility by increasing the value of the services and products through intelligence.
Knowledge is considered to be less tangible and mainly depends on human awareness. Knowledge assets are the codified human expertise that is stored in a digital or electronic format. It is widely used to create a value to the organization. It is not vulnerable to the loss of memory and it is popularly deployed via the internet.
More precisely, Knowledge assets are the knowledge regarding the markets, products, technologies and various organizations. It is vital for the organization to deploy knowledge assets to generate profits and add value to the business. Some of the characteristics of the knowledge assets include:
· Promoting and understanding the various activities involved in an organization.
· Providing guidance to take various decisions in an organization.
· Recording various facts regarding the decisions that are critical.
· Creating the Meta knowledge about how changes in the work are processed.
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