30 June 2020

Why is Knowledge Management essential to your Success?

Higher productivity. Less costs. These are the main objectives of Organizations, especially in an unstable scenario, as the one we are experiencing today. To gain in productivity and efficiency it is necessary to ensure good access to Organizations’ information across the different departments, and here technology can provide new ways of looking at the business and the market.

The effectiveness of Employees and teams is directly related to the efficiency with which they can access the information needed to perform their tasks. Therefore, Organizations and their Employees must have quick and reliable access to the crucial information to make the best decisions, to inform themselves and reduce the response time of Colleagues, Partners and Customers.

A 360-degree view of an Organization allows not only to identify opportunities and solve problems faster but also more agile and integrated management in the Organization’s daily routine, allowing time and resources savings.

 

What is Knowledge Management?

The classic one-line definition of Knowledge Management was offered up by Tom Davenport early on (Davenport, 1994): “Knowledge Management is the process of capturing, distributing, and effectively using knowledge.”

A few years after the Davenport definition, the Gartner Group created another definition of KM, which has become the most frequently cited one (Duhon, 1998), and it is given below:

“Knowledge management is a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise’s information assets. These assets may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers.”

The goal of knowledge management platforms is to enable organizational learning and create a learning culture, where the sharing of knowledge is encouraged and those who seek to learn to better themselves find it easy to do so.

 

Benefits of Knowledge Management:

  • More efficient workplace
  • Faster and better decision-making
  • Increased collaboration
  • Building organizational knowledge
  • Onboarding and training process

 

What does Knowledge Management consist?

  • Content Management – A platform where you store your Organization’s information and data up online, plus selected external information and providing the capability to search this information. The term most often used for this is Enterprise Search.
  • Expertise – Since knowledge resides in people, the best way to acquire the expertise that you need is to talk with an expert. Locate the right expert with the necessary wisdom.
  • Quick information and best practices – Obtain answers to typical questions that exist in an Organization, from any of the departments, such as HR, Quality, Operational Procedures and even previous experiences that become best practices.
  • Communities of Practice – Create groups of interest where your Employees can develop content, share experiences, and create use cases that will allow others within the Organization to learn, be for productive and more agile.

 

In BI4ALL we have developed an Enterprise Search, called Knowledge Hub, that will allow any Organization to quickly start the Knowledge Management culture by providing a powerful search platform built in the cloud and empowered by AI, that allows effective decision-making and accelerates the Organization’ growth, supporting to increase the productivity of Employees and make teams self-sufficient. Through this platform, it is possible to search for information in the same way as in a search engine.

 

With the Knowledge Hub, it is possible to:

  • Find fast and reliable information.
  • Allow the corporate culture to change without friction. The Knowledge Hub will be part of the existing ecosystem without making drastic changes.
  • Manage and recover data efficiently, without maintaining a stable number of taxonomists, using AI and Machine Learning.
  • Have access to information anywhere, anytime.
  • Have information centralized and updated, thus achieving a complete view of the Organization.
  • Increased business performance.

 

Key Knowledge Hub features

  • Easy to create, organise and access documents
  • Organise documents into categories and sub-categories for easier searching
  • Define access levels for each user
  • Automatically withdraw documents on a predefined date
  • Usage metrics visualisation through PowerBI

 

 

Try the Knowledge Hub today – the Organizations’ search engine

 

TRY

 

 

   José Oliveira BI4ALL
         Raúl Ribeiro         
         RESEARCH
DEVELOPMENT LEAD