Knowledge is anything that is learned or gained from experience. Oxford defines knowledge as “facts, information, and skills acquired through experience or education; the theoretical or practical understanding of a subject.” Knowledge management refers to the whole process of creating, curating, organizing, and distributing content organization-wide.
Coined as a term first in 1987 by McKinsey, knowledge management, alongside its generally accepted abbreviation KM, became public at a conference in Boston in 1993. Earlier, each time a distant land had some business need requirements, a supervisor was required to travel from homeland to some faraway country land. It wasted time, resources, efforts and created a bump in operations at both places usually.
To a great extent, knowledge management has brought the world closer and continues to improve the sync of processes. Telecommunication earlier could have helped representatives on both ends to explain to the best of their abilities about persisting situations. Still, with knowledge management, employees can now project the current state of things and use virtual aspects of technology to connect in real-time with absoluteness of facts eliminating misrepresentation.
Knowledge management, in a nutshell, is required to build bridges wherever gaps are found in communication to prevent leakage and stoppage. It connects employees, employees, customers, authorities, knowledge databases, processes, operations, and technology to yield collaboration and brings about quality results.
You enter your room daily, and each time you leave, it is messier than before. Well, one rushed morning, you might have misplaced an important document and are already running late to the office. Well, at night, you make some temporary arrangement to steer the load clear from your desk or your bed, or you somehow manage to make space for your belongings. This arrangement keeps you well going, and maybe on weekends, you even clear a fragment of that mess. You now realize how important it is to keep the room organized.
You leave no corners unturned and are now sure that you will either find what you need and be late or have to go without the document. You manage to finally see the document and rush to the office, still late somehow. You now realize the documents you got are not complete stack, and some files are still left back in your study. Now imagine the same at your workplace. Why let your metrics touch the verge of negativity and then use knowledge management as a repudiation to damages done when using it since the start can prevent it altogether?
When employees require a particular piece of knowledge, it must be right there, accessible at any point in time. Failure to do this leads them to dig up this information and put the caller on hold.
Apart from triggering a lot of negativities against an employee’s capabilities in customers’ eyes, it also makes them second guess their brand choice. Even if the employee somehow manages to dig up relevant information from a pool of unorganized data and information, the time taken to read, process, understand, apply, and disseminate the same to the caller is sure to make the clock go ticking.
This pressure, in turn, causes employees to panic and bursts open floodgates for absenteeism and employee errors. With such high built-up duress, your staff might not even own up to the mistakes as they ate not the sole burden; this might even result in employee attrition apart from customer churn and downwards-driven sales. employees have multiple calls, all referring to various subjects and complaints originating from that place.
It requires them to be ready with truckloads of information at any given point to avoid delays in typing and finding the same. Multiple apps and dozens of websites on customers’ end confuse them from landing on an absolute solution. Knowledge management tools in this regard help the customers find correct knowledge quickly. Still, they also ease the challenge of enterprises in gaining viewership and digital excellence.
Knowledge management lays down the foundation for operations and communication inside and outside of an organization. It helps in assigning roles and responsibilities while striking a balance in the delegation of authority—analytics through knowledge management software help in ascertaining the loopholes and helps in mending the same with organization-wide compliance. A workflow is set in motion for employees to establish a standard code of conduct for operations.
Knowledge management helps in assigning responsibilities to the concerned parties. The designation of the employees is updated, and their responsibilities are filled in. Easy access helps the team heads to track the progress of learning and operations.
Retargeting of content helps in reducing the labor of the content and product team. A piece of knowledge database, once created, can be adapted for any media and any channel. This provides seamless circulation eliminating multiple works on the same topic. Admins can bracket the date & time period for knowledge to be scheduled or published.
A comparison between set standards and achieved targets is easy and feasible with an analytics dashboard. The users of knowledge management platform are free to rate and comment on it. This helps in judging the practical credibility of users, creators, and knowledge management solution.
The knowledge base created can be online, offline, cloud, or on-premise, making accessibility extremely flexible, customizable, and secure. 24×7 accessibility to authorized parties helps to reduce the time gap between the arrival of the problem and the delivery of an apt solution.
A knowledge management system represents brand tonality to its users. These users can be both employees and self-service users. A knowledge website or application can be fully customized as per the client’s needs to ensure easy usage and a friendly UI. Multiple templates are available.
Over-whelming customers can backfire but supporting them by being present in the exact manner they want you to be is nothing short of a miracle. Online knowledge management has information and solutions in guides, charts, images, videos, and chats.
Adherence to Standard Operating Procedure is not killing creativity but kindling it towards productive results. It helps establish a chain of command and syncs the activities of employees on multiple fronts.
A good knowledge management tool has multiple options embedded in it, right from archiving knowledge to acquiring facts, data, leads, feedback, communication, and rating. DIY knowledge creation helps in user-generated content, thus being more relevant as it is passed through expert magnification.
Robust and modern knowledge management has tools that elevate user experience. Find some of those features you should look for below
Knowledge management helps employees to close tickets quickly with the help of AI. AI intent reads the generated tickets and scans the keywords to sort out relevant answers from the knowledge base. employees only have to read out the solution steps or forward them as required.
Google-like elastic search can read in between the documents and not just the heads. This aids employees as they are not required to remember each record. They can merely type in the phrase they remember, and exact results shall pop up. This reduces the time taken per query and enhances CX.
With the advent of science and time, augmented reality and virtual reality became a talk of the past just as soon. Mixed reality is a relatively efficient amalgamation of the two creating real-time interaction of real and virtual forces. It makes the solution interactive, creative, speedy, and alive, thus quickly grasping the customer’s attention through visual aid.
Decision trees are made to help users interact with a situation in a one-dimensional environment in a schematic flowchart. Users start with a problem statement, explore each aspect of its cause, and determine solutions with branching in each case. It is a collaboration between differentiation and integration, only on real-world issues.
Images have continued to portray the actions and reactions since time immemorial, thus being the most convenient method of non-verbal communication. Visual guides are a repository of solution steps in chronological order helping users to grasp the way out and execute it quickly. It is engaging and helps extend the average session time to a positive one.
Bots are no longer expected to amuse and attract visitors by being the clown on the street. They are an integral part of the business and are expected to function with a human-like sense and efficiency. From fetching leads to delivering solutions, AI chatbots can be integrated with all channels deployed in all kinds of operations.
A detailed and updated LMS helps organizations train their workforce in accordance with the actual work environment under experienced faculty. The lessons are bifurcated and batches are divided to pay personal attention to each query raised. Trainees can work on a software interface for apt onboarding.
Following are simple steps through which the process of knowledge management is explained
The first step of knowledge management is to gather all critical data in a single place. To know what is essential and valuable data and what isn’t. Collecting data requires filtering redundant information through careful selection.
Organizing data comes into the picture after valuable data is gathered. The organization of data happens department-wise and is segregated into several.
After the information is gathered, adding context is essential. The correct way to add context is to make data accurate.
Analyzing the information is highly important to keep information up-to-date, and delete outdated information. Analyzing also helps see whether a particular activity is yielding results or not.
Knowledge management helps in providing its users with a competitive edge in the market. Customers are not just targeted but their appreciation is achieved through early reach out and effective marketing.
Resources are optimally allocated and utilized without overexploitation or underutilization. Startling returns act as incentives for the employees to perform even better under stressful circumstances as well.
A good knowledge management software thus pays ample attention to customer service and customer satisfaction via quality of knowledge and assistance brimming with professional competency.