Knowledge Management System (KM System) refers to a (generally IT based) system for managing knowledge in organizations for supporting the creation, capture, storage, and dissemination of information. It can comprise a part (neither necessary nor sufficient) of a Knowledge Management initiative.
Benefits of using intelligent techniques for Knowledge Management –
(1) Reduced labor costs: The most tangible benefit of BI is the time and effort saved with manually producing the standard reports. for the organization. It is rarely the largest benefit though. However, because it is so tangible it is often part of the equation when a decision must be made about implementing BI, and if it turns out that these savings alone can justify the BI system, then it is the easiest way to justify it. BI systems reduce labor costs for generating reports by:
- automating data collection and aggregation,
- automating report-generation,
- providing report design tools that make programming of new much simpler,
- reducing training needed for developing and maintaining reports.
(2) Reduce information bottlenecks: The BI system allows end-users to extract reports when they need them rather than depending on people in the IT or financial department to prepare them. The BI system will even allow authorized users to design new reports to match their requirements. BI systems reduce information bottlenecks by:
- providing individualized, role-based dashboards that collect the most important data for daily operations,
- letting the titer open and run reports autonomously,
- providing documentation of KPIs and other information,
- allowing users to analyze and validate the data without involving IT specialists,
- allowing users to create new views of data as needed.
(3) Better decisions: Decisions need to be’ made every day and, as we all know, decisions have varying quality. Good decisions can provide tremendous benefits. Bad decisions provide no benefits they may even cause you losses. BI systems help make better decisions by:
- providing decision makers with rich, exact and up-to-date information,
- letting users dive into data for thriller investigation.
(4) Faster decisions: A decision can be made the moment you have all the relevant information at your hands. In other words, the faster the relevant information gets into your hands the faster you can make a decision. Fast decisions are important for two reasons:
- It makes the organization more responsive to threats and opportunities,
- It shortens the time between thought and action.
Most people will lose their train of thought if they need to wait a long time for further information about the problem they are dealing with.
BI systems enable fast decisions by:
- Combining multiple data sources in common reports, thus saving the user from manually combining data in spreadsheets etc.
- providing analytical and ad-hoc reporting capabilities that allow users to quickly retrieve new or different combinations of data as needed instead of having to request new reports in the IT or finance departments.
- providing reduced system response times by using pre-aggregated data or other techniques for fast data aggregation.
(5) Align the organization towards its business objectives: The most successful organizations are those that succeed to make every person in the organization work towards a common goal.
