What is knowledge management?

Knowledge management includes the collection, analysis, dissemination, and general management of all information that is possessed by an organization. A Knowledge Management System carries out these functions and follows best practices to deliver optimal results for the organization using it in an efficient and effective manner.

By definition, a Knowledge Management System (KMS) is a system for applying and using knowledge management principles to typically enable employees and customers to create, share and find relevant information quickly. A Knowledge Management System is a valuable tool for any business operating in our data-driven digital world, particularly those that sell products and/or provide services.

How can a knowledge management system help me?

Functionally, a knowledge management system will collect, store, and retrieve knowledge, find sources of knowledge, monitor and mine repositories for hidden information. It helps automate the knowledge management process and creates efficiencies by providing key players with more time to spend learning from and applying data insights, information, and knowledge.

A successful Knowledge Management System implementation will:

• Manage and capture knowledge
• Search for and retrieve existing knowledge
• Disseminate knowledge, data, and information to those who need it, and
• Facilitate collaboration within and across teams

Each organization that utilizes a Knowledge Management System has a different approach to knowledge management and therefore they are often applied differently to achieve the various goals and objectives of organizations across different industries.

Knowledge Management is about people and processes

Knowledge Management is Not a Technology Solution in Itself. Whilst a Knowledge Management System is a technology solution and the overall task of knowledge management is facilitated by technology, knowledge management itself is not a technology discipline, knowledge management as a process has been around for decades, emerging long before the internet and even computers themselves.

It is correct that a modern Knowledge Management System is heavily reliant on IT systems, however, the task of knowledge management itself incorporates several other factors such as organizational processes and its people.

A Knowledge Management System simply supplements the knowledge management process by providing data capture functionality, configurable processes, and the means to analyze, monitor, and share data, information, and organizational knowledge.

For any company irrespective of size and industry the utilization of a robust KMS is critically important for ongoing success, particularly for organizations that rely on data, knowledge, and information as part of their day-to-day operations.