Knowledge Management

Knowledge management involves data mining and some method of operation to push information to users. Some vendors are offering products to help an enterprise inventory and access knowledge resources. IBM's Lotus Discovery Server and K-Station, for example, are products advertised as providing the ability to organize and locate relevant content and expertise required to address specific business tasks and projects. They are said to be able to analyze the relationships between content, people, topics, and activity, and produce a knowledge map report.

In early 1998, it was believed that few enterprises actually had a comprehensive knowledge management practice (by any name) in operation. Advancement in information technology and the way we access and share information has changed that; many enterprises now have some kind of knowledge management Framework in place.

Comprehensively, Knowledge Management is a newly emerging, interdisciplinary business model dealing with all aspects of knowledge within the context of the firm, including knowledge creation, codification, sharing, and how these activities promote learning and innovation.

In practice, knowledge management encompasses both technological tools and organizational routines in overlapping parts.

Rudy Ruggles, leading knowledge management thinker/practitioners, has identified the following items as integral components of knowledge management:

·       Generating new knowledge

·       Accessing valuable knowledge from outside sources

·       Using accessible knowledge in decision making

·       Embedding knowledge in processes, products, and/or services

·       Representing knowledge in documents, databases, and software

·       Facilitating knowledge growth through culture and incentives

·       Transferring existing knowledge into other parts of the organization

·       Measuring the value of knowledge assets and/or impact of knowledge management.

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