Why CIOs Find it Compelling to Leverage Knowledge in Organizations

By CIOReview | Thursday, October 10, 2019

Knowledge exchange will be at the heart of the future of society and businesses.

FREMONT, CA: knowledge management is now a part of business, offering more direct business traction. Knowledge is the most valuable resource of an organization to make it more productive. Businesses must develop their knowledge capabilities with the rapid evolution of our global economy. In that regard, the pioneers of knowledge management have developed valuable tools and approaches that can be applied in a broad spectrum of business disciplines. Here are some facts of knowledge management that CIOs find compelling, actionable, and relevant for leveraging knowledge in organizations.

Social Networks

In reality, traditional organizational charts and business process maps give little information on process flow in an organization as they are highly informal based on who people communicate with to complete their work. In such cases, social network analysis is handled by leading companies to gain insights into the invisible business process. Using the ideas, the organizations design interventions that enhance productivity and effectiveness of knowledge.

Check out: Top Knowledge Management Tech Companies

Relevance

The future relies on giving relevant details for individuals from a vast ocean of information. So it is essential to provide information that is relevant to individuals’ work and interests. Two essential practices support enhancing information relevance. Implicit profiling technology learns from the frequency of our searches, while collaborative filtering technology allows drawing insights and discoveries of people with similar profiles and interests.

Knowledge-based relationships

A considerable proportion of business values resides in trusting, knowledge-based relationships as it allows companies to create values with clients, suppliers, and alliance partners. Besides, organizations realize that outsourcing and offshoring will work only if there is adequate knowledge flow between companies. Professional firms are finding that the clients not only demand knowledge transfer but are also engaging in knowledge-based relationships as it increases customer loyalty and profitability.

Collaboration

Collaboration is highly essential in an organization. Many of the approaches pioneered in knowledge management, such as communities of practice, can foster collaboration between individuals, teams, and organizations. Also, collaboration tools like web conferencing and video conferencing are gaining recognition in this regard. Now companies are focusing on developing the skills and culture that enable high-value collaboration by implementing a new set of business processes.