Knowledge management has long been regarded as one of the most useful tools for companies to maintain information and knowledge they have gained. It’s important to know the distinction between data management and knowledge managem
ent. Data management refers to the data that you gain from customers and from other sources that can help you run the business. On the other hand, knowledge management means being able to store, maintain, analyse, and recall the information when needed.
Knowledge management can be thought of as a more systematic way of doing things. Whenever a new employee runs into a problem, they are told to contact senior employees because the senior employees are likely to have faced the same problem and solved it before. In a similar way, if a Microsoft employee discovers a fix to an issue they upload it on their knowledge management system. The next time someone is stumped by the same problem, they can just start the system and see if a solution exists.
The important thing to understand is that knowledge management doesn’t just mean that you are storing information; it also means that you’re making a system which is capable of analysing and searching the database so other people can find it just as easily. Saving keywords makes the whole searching process easier and more efficient.
Some of the biggest companies on earth have been practicing knowledge management for more than a few decades now. Knowledge management refers to the act of acquiring, storing, sharing, and using the information that has been gained by an organisation or its employees. Microsoft is one of the large companies that have been effectively utilising knowledge management for a long time. The one difference between a company like Microsoft and most other companies, is that Microsoft actually opens up their knowledge management system to the whole world. The Microsoft Developers Network is one of the best places online to go whenever you need help with a Microsoft related issue. In simple terms, knowledge management means that whenever someone learns about a way to fix an issue or any help the business, they store it somewhere for everyone to access.
Knowledge management drives business excellence because it allows businesses to retain information. Companies that do not have a proper knowledge management system end up facing many problems when senior employees leave the organization. As Newton once said, “I see farther only because I stand on the shoulder of giants”. What Newton meant is that he was able to make the discoveries he did, only because he was able to use the information and knowledge of other people before him who had already dealt with similar problems. Proper knowledge management in organizations has the same effect. If someone has worked at your company for many years then they will have learnt many ways of dealing with problems that may not be recorded. When they leave, all the knowledge is lost and whoever is replacing them has to once again go through the process of discovering the solutions to the problems.
Knowledge management drives Business Excellence because if knowledge is properly managed, then others can learn from it. When someone new joins the organization, instead of discovering the same solutions, they can go further and work on other problems, finding new solutions, or even creating better solutions. In a proper knowledge management system once an employee has a good idea every employee can also benefit from the same idea. This concept means that knowledge is always being improved over time.
Knowledge is power, and knowledge management allows companies to use this power to drive their performance and innovate. Companies that use knowledge management are companies that have realised the importance of human intelligence and who also value their employees. Professionals know that sometimes you just get stuck on a problem and it can take time to develop a solution.
Most knowledge management systems these days have ways for employees to collaborate with each other. This is beneficial because if someone finds a problem with no solution, they can simply post the problem in the knowledge management system. Employees from another department who may have encountered the problem can the suggest solutions. This allows companies to collaborate and solve problems of the team.
For knowledge management purposes it’s best to divide knowledge into 3 types: implicit, explicit, and tacit.
One of the most exciting aspects of the United Arab Emirates vision for the future is the desire to build a knowledge-based economy.Becoming a knowledge-based economy would mean that United Arab Emirates would need to develop more powerful knowledge management systems than what is currently available. As the many different projects involved in the vision of the future are initiated and completed, there will undoubtedly also be a lot of knowledge gained. There really is no country in the Middle East as developed as UAE, which means that the country will be facing completely new problems and applying innovative technologies for the first time. This means the UAE will be creating new standards and practices and this will see the UAE become a real pioneer in the Middle East. In the future we can expect that other countries in the Middle East will join in on the technological revolution and become smarter countries for it. If the United Arab Emirates is successfully able to secure the knowledge it will gain from implementing its vision, it will in turn be able to export the knowledge and experience elsewhere. This will make UAE one of the most powerful nations in the Middle East
Ultimately, knowledge management has the ability to make all future projects easier and quicker to implement. Any obstacle that was faced in implementing the initial project can be completely avoided in any future project due to crucial knowledge being gained and recorded. Indisputably, a comprehensive and well-built knowledge management has the power to dramatically change how efficiently a company or business is run. Don’t let it be something you ignore!by