Knowledge Management

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Given the disparate and often excessive sources of information in an organization, it might be imperative for us to wade through this information and produce perfect results upon inquiry. ‘Knowledge Management’ refers to gathering, organizing, refining and disseminating information within an organization. We will discuss the basics of ‘Knowledge management’, the different processes in ‘Knowledge management’ and ‘Oracle knowledge management (OKM) ’in this post.KM

Introduction:

Though the very concept of ‘Knowledge management’ existed from the 1990’s, integrating these systems into the business strategy and solving business issues is fairly new. Before we see how knowledge management works – let us first discuss knowledge and its classifications.

Knowledge is the awareness of the business topic. Knowledge or the awareness in an organization can be classified into several categories -two of them being – tacit knowledge and explicit knowledge.

‘Tacit Knowledge’ is knowledge that is present in the mind of a person. It has not been previously shared or documented but has been discussed at water coolers or has been passed through other word of mouth encounters. ‘Explicit Knowledge’ is knowledge that has been clearly documented in emails, newsletters or chat rooms. The consolidation of these different types of knowledge forms the basis of knowledge management.

The different processes in knowledge management are as follows:

  • Gathering the information from different sources.
  • Organizing the information by cataloging and indexing.
  • Refining the knowledge.
  • Disseminating the information throughout the entire organization.

Advantages of ‘Knowledge Management’:

The advantages of using knowledge management include:

  1. It reduces time and effort to share the data and thus increases efficiency when handling customer enquiries
  2. It increases revenue for organizations by reducing the costs incurred to maintain data
  3. Faster response time for organizations as a direct result of better knowledge access
  4. Improved productivity for organizations
  5. Increase in client satisfactionkm2

What is Oracle Knowledge Management (OKM):

“Knowledge is power” goes the saying and it is this power that is being harnessed in the form of “Oracle Knowledge Management” system. In short, OKM is a Java based web application running on WebLogic. It provides a better search experience for customers and organizations alike.

Some of the features of Oracle Knowledge Management system include intelligent search, natural language processing, self-service knowledge applications and knowledge analytics.

a. Intelligent Search

The ability to understand the search query when it is presented in native language is great asset with Oracle knowledge management system. This in turn will reduce search times and improve productivity for an organization. It will also improve customer satisfaction.

b. Natural language processing

It is not easy to transcend the language barrier and OKM solves this issue by providing its services in 200 pre-configured languages. Searching for customer queries in one’s own native language is a great boon to many organizations.

c. Knowledge Analytics

In the Big Data age, everything is analyzed and studied for better progress. OKM offers knowledge analytics – ‘Knowledge analytics’ understands the efficiency of knowledge performance when interacting with customers.

d. Self-service

OKM also empowers the customers with self-service features. Customers can seek answer to their queries through built-in browser interfaces and also post in discussion forums. The queries and the answers can be stored for future reference.

We saw an introduction to ‘Knowledge Management’ and OKM in this post. How the concept of ‘Knowledge management’ will evolve with the changes in technology like social media remains to be seen.

Image Credits: Google

About Aditi Malhotra

Aditi Malhotra is the Content Marketing Manager at Whizlabs. Having a Master in Journalism and Mass Communication, she helps businesses stop playing around with Content Marketing and start seeing tangible ROI. A writer by day and a reader by night, she is a fine blend of both reality and fantasy. Apart from her professional commitments, she is also endearing to publish a book authored by her very soon.

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