During our 25 years of experience in the Knowledge Management business, Intuition has regularly been contacted by our clients’ regarding their difficulties in managing knowledge effectively. Knowledge Management Systems (KMS) are often viewed as the invisible friend in many organizations; decision makers are sure that something is being done but what and, more importantly, how much remains largely unquantifiable.
The challenge that Intuition has witnessed over the years as experienced by our clients is justification, where KMS advocates cannot determine exactly how much value the system is providing and, as a result, it becomes largely irrelevant. This is particularly true during tough economic times, when business margins are tight, all expenditure is carefully monitored and Return on Investment (ROI) is paramount. Until recently, Knowledge Management has lacked quantifiable metrics and evidence.
At Intuition, we see data being farmed at a faster rate than ever before. Organizations can now examine the areas of effectiveness of Knowledge Management which were not previously quantifiable. The operational costs of data farming and storage methods have reduced significantly and our clients can investigate all operational aspects of managing knowledge. This development offers great commercial opportunities for our Knowledge Management business.
Collective knowledge is often quoted as the most valuable asset within an organization. However, due to the difficulty in measuring this intangible asset, it is hard to source reliable data. Over the years, Intuition has addressed our clients’ formal learning needs and we have witnessed at first hand the growing influence of informal learning. With the ongoing changes in data capabilities, we are addressing both formal and informal learning via our Advantage Knowledge Management platform. This combination of formal and informal learning methods will allow organizations to develop the skill sets of their employees on an unprecedented scale.
Also, the advent of Big Data will allow organizations to actively manage, assess and review their knowledge assets, both formal and informal. In the era of Big Data, knowledge will finally become King.
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