Need of Knowledge Management in Organizations

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I was referred to a case study last year on ‘knowledge management’ strategy at my company Batoi Systems Private Limited. And, I thought I would share my opinion on this very topic in general.

Data is essential to knowledge management. How you use your data is more vital if you plan to create an effective knowledge management strategy. In simple terms, you would like to acquire, assimilate and retain information better for your company.

These days, it is not an option if you should aggregate and crunch large data into digestible, or rather intelligible forms. It’s the need. It’s a necessity for survival in this highly competitive and changing market scenario.

Knowledge Management, or KM, as popularly known, is not a luxury addition to company’s systems and processes. It’s mainstream, and entails chalking out strategy that encompasses all organisational activities. The objective is to identify the sources for generation of pertinent data, and how such data can be transformed and stored in the form that may be consumed later. It may happen that a piece of information may not be considered relevant for future if we don’t lay goals ahead.

The cardinal point is about having a holistic view of corporate affairs, and designing information systems and processes that can serve disseminating knowledge for operation, quality enforcement and customer satisfaction. The flow of information across departments within an organisation is the most neglected aspect when experts plan to incorporate KM into their overall corporate strategy. They rather focus on areas where data is transacted outward or inward – whether as a part of a large supply chain, or simply, with customers. But then it’s something that no one can ignore.

We are in the age where proliferation of data is usual as we use IT, and more when we intend to have insights into these data. Knowledge Management strategy can take your organisation far ahead of many of your competitors, and is essential too – for your survival.

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