The Definitive Guide To Knowledge Management [New Guide]
In the era of big data, effective knowledge management is absolutely essential. To succeed companies need to connect their employees to the information and knowledge they need to overcome business challenges. Our new guide explains how you can implement a successful knowledge management initiative in your company.
Why Knowledge Management
Today’s enterprise creates a staggering amount of information. According to SanDisk and many other sources, the volume of business data in the world is doubling every 1.2 years, and the rate at which content is produced is growing faster every day. Knowledge and how it is managed, surfaced, and distributed, can be key to the success of a business.
With the arrival of cloud storage systems like Box and Dropbox, the cost of storing knowledge has reduced considerably. While these services have many benefits, they have also created yet another location where knowledge is stored – making information retrieval even more expensive.
Your company’s intellectual property is stored across a range of locations like file servers, cloud storage systems, email, intranets, and company wikis. Heterogeneous corporate infrastructures mean today’s knowledge worker must navigate through an intimidating mass of dispersed data to retrieve relevant content.
Traditional tagging, naming conventions, and folder structures were not designed to facilitate the huge volume of content enterprises deal in today.
Today, knowledge retrieval issues are running wild:
- Knowledge professionals spend 5-15% of their time reading information, but up to 50% looking for it.
- According to IDC research, 36% of employees’ days are spent looking for and consolidating information, and 44% of the time employees can’t find the information they need to do their jobs.
- A typical enterprise with 1,000 knowledge workers wastes $5.5 million – $9.5 million per year:
- Searching for nonexistent information
- Failing to find existing information
- Recreating information that can’t be found
Effective KM essentially boils down to the organizational ability to get the right intelligence to the right person at the right time to make the right decision. Unfortunately, for most companies today knowledge has become silo’d and highly valuable institutional knowledge gets lost.
Our guide will explain how to eliminate these inefficiencies, equip employees with the right intelligence, and, ultimately, help your organization get smarter.