Due to technological advancements emerging today, it’s vital for businesses to catch up and stay competitive using these digital tools provided to them.
As an entrepreneur, whether a beginner or veteran in a respective industry, you will need IT support for one’s undertaking.
Many people think that information technology will not make any significant difference.
However, managed IT solutions help businesses to save tons of money on the total costs of managing their systems.
By using the efforts of highly trained and experienced managed IT professionals for your business, you’ll also be able to cut back on the overall expenses of maintaining the IT infrastructure and, most importantly, notice a huge improvement in the quality of your service.
When it comes to choosing the best IT solutions, you can never go wrong with adding knowledge management systems into your package.
What are Knowledge Management Systems?
A knowledge management system is an IT solution that primarily deals with managing knowledge composed in a certain business or organization.
To make the most out of implementing KM systems in your business, it’s important to know that there are different types of knowledge management.
Essentially, KM systems don’t have a definite list of what constitutes one, but these are common categories of KM systems that will give you a better idea:
- The intranet and extranet
- Artificial intelligence (AI) tools
- Semantic networks
- Simulation tools
- Document management systems
- Content management systems
- Data warehousing and data mining
- Decision Support Systems
- Online Analytical Processing (OLAP)
- Groupware systems
How Do KM Systems Work?
Knowledge management systems are also known as knowledge transfer systems or knowledge enterprise systems.
KM systems are designed to facilitate the transfer of knowledge, which stores and retrieves information, enhances collaboration, searches for relevant knowledge resources, locates knowledge resources, mines databases for hidden knowledge resources, collects and collates knowledge resources, captures knowledge resources, creates a catalog of knowledge resources, and integrates these resources to support knowledge exchange.
KM systems are useful for the creation of a unified knowledge system. KM systems aren’t static entities, but are dynamic systems that change based on the needs of their users.
The different concepts that make up a KM system are its database, content repository, knowledge extraction tools and knowledge integration processes.
These are important factors which determine the effectiveness of a KM system.
Knowledge repository refers to a database where all knowledge and content are stored in electronic form.
It has the capacity to store, retrieve, create, and manipulate knowledge at the same time.
The database of a KM system helps the knowledge retrieval process of the system.
The content repository includes different formats such as Microsoft Word document, Microsoft Excel spreadsheets, Microsoft PowerPoint presentations, audio files, and video files.
Content repositories are usually stored in different locations such as on a central server, in multiple storage locations, on a client’s workstation or laptop, and even on the user’s handheld device.
Content repositories enable the user to access all types of information.
Knowledge systems aren’t only concerned with information. Knowledge systems are also concerned with knowledge itself.
Knowledge systems include knowledge bases, which are used for knowledge extraction.
Knowledge bases contain knowledge on every topic from all the different disciplines, which allow the user in finding answers to various problems in various fields.
Through allowing individuals to search, access, manage, edit, and save their data in KM systems, businesses can design and develop better strategies for their content marketing, promotion, service, and response to feedback.
Advantages of KM Systems in Your Business
KM systems are commonly used business tools to increase the flow of information in your business.
They can also help improve customer service operations, as well as boost productivity and cut down on the problems related to loss of valuable data.
Knowledge management systems are a set of databases where the data of a particular product is stored and maintained for easy access by different departments.
The system allows you to create different types of systems, including customer relationship management (CRM) database, accounting system, supply chain management system, and more.
These systems allow your staff to have easy access to data related to a certain product and to save time and effort as they can access it from one central location.
In fact, KM systems can even be used as a training tool. You can set up a system where your staff is taught how to use it, making it easier to maintain the system by themselves.
This also reduces the expenses involved in hiring more staff for training purposes.
These systems are particularly useful for large organizations where there are a lot of people to manage.
As far as maintenance of the system is concerned, most KM systems have simple maintenance requirements. They require periodic scanning and updates in order to keep the system as up-to-date as possible.
Indeed, having fully operational KM systems can significantly improve your business in numerous ways.
With the help of knowledge management systems, you can further increase the efficiency and productivity of your workplace, promoting a better environment for staff members to perform their respective tasks.
In only a short matter of time, you’ll be able to see the successful results of integrating KM systems in your business in terms of its security, reliability, and efficiency of storing, managing, and streamlining your data and its processing.