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In this chapter, the following content will be discussed: Knowledge management: types, definitions, activities, cycle; what is business intelligence (BI); core capabilities of BI; why do companies need BI; benefits of BI; examples of BI in use; BI golden rules.
Knowledge Management and Business Intelligence Lecture 24 Today’s Lecture Knowledge Management Types Definitions Activities Cycle Today’s Lecture • • • • • • What is Business Intelligence (BI) Core Capabilities of BI Why Companies need BI Benefits of BI Examples of BI in use BI Golden Rules Knowledge Management Knowledge Management focus on how knowledge within organisation can be created, captured, stored, and reused within organisation Introduction to KM KM is a cross industry field involving other fields like social science, computer science, and management science There is no consensus on definition of Knowledge Management However the definition could be defined by understanding the meaning of “Knowledge” which also lack clear-cut definition What is knowledge Knowledge can be referred to as understanding based on some learning activities or generated from long time experience Knowledge can be categorized as: Know-how knowledge Know-what knowledge Know-who knowledge Introduction to KM… What is Knowledge What is knowledge Knowledge is a fluid mix of relevant experience, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information [Davenport & Prusak] Experience (e.g customer behaviour) Values (e.g understand/help/encourage customers) Contextual information (e.g customer buying patterns) Expert insight (e.g why specific buying patterns occur) Over 60s buying heavy metal music CDs for their grandchildren Introduction to KM… Types of Knowledge There are two types of Knowledge Explicit Knowledge Tacit Knowledge Explicit knowledge can be easily captured and codified It is in the form of documents, reports, video presentation, e.t.c Tacit Knowledge is a personal knowledge and is within the knower’s mind It is based on the personal beliefs, intuition and experience, and is hard to codify Introduction to KM… Organisational Knowledge Organisational knowledge is a resource consisting of the sum of what is known in that organisation [Holseapple] About internal matters (e.g internal processes, know how) About external matters (e.g competitors, customers) About trading partners (e.g their processes, getting things done in partnership with them) About not depleting the more it is used Introduction to KM … The spiral of knowledge (1) The spiral of knowledge processes helps us understand how: Knowledge is acquired Knowledge is transformed or converted from one knowledge category to another Knowledge is shared Knowledge may be created In the past the processes that underpinned the model were largely informal, but now are becoming more formalised (e.g encouraged, required, embedded in the way people work) “The key to knowledge creation lies in the mobilisation and conversion of tacit knowledge.” [Nonaka] Why knowledge management is necessary (2) Issue: employees don’t know what their colleagues know Consequences: Inconsistent performance across different parts of the organisation Expertise localisation Repeated failures Inability to apply what is known Competitors innovate at a faster rate What’s the problem? Knowledge is not shared rapidly within the organisation Why knowledge management is necessary (3) Issue: knowledgeable employees leave the organisation or retire Consequences: Critical expertise built up over years is lost overnight Expertise may move to competitors without being retained within the organisation Key customer relationships may be affected Overall organisational knowledge is reduced What’s the problem? Tacit knowledge walks out the door (and doesn’t return) Why knowledge management is necessary (4) Issue: employees closely guard their individual knowledge Consequences: Knowledge is not visible Knowledge is not shared “Turf wars”: “this knowledge belongs to me (or my department) and is not yours” A belief that the knowledge is “owned” by the individual rather the organisation Opportunities for in-depth collaborations are minimised What’s the problem? Knowledge hoarding by employees What knowledge management is Definition: Knowledge Management is a strategy, framework or system designed to help organizations create, capture, analyze, apply, and reuse knowledge to achieve competitive advantage A key aspect of Knowledge Management is that knowledge within an organisation is treated as a key asset What knowledge management is A simple phrase that encapsulates a core aspect of Knowledge Management is "getting the right knowledge to the right people at the right time in the right format" Knowledge management processes Knowledge Management Processes Capture Knowledge Organise Knowledge Target Knowledge Maintain Knowledge Transfer Knowledge What knowledge management achieves Makes visible organisational knowledge no matter where it is Provides access to an organisation’s collective expertise anywhere in the organisation Retains the organisation’s knowledge in times of change Exploits knowledge as a organisational asset Helps to ensure that knowledge is up to date and relevant Helps the organisation to the right thing Embeds knowledge in the organisation’s processes Enables the survival of the organisation But: Part science, part art Based on Awad & Ghaziri Knowledge management scope Organisation Business Knowledge Management People Technology Based on Awad & Ghaziri Ideal KM environment External Environment Existing methods/ Processes Learning Insights PEOPLE Knowledge Creation Knowledge Repository New ideas Conversion • New products • New markets • Smarter problemsolving •Valueadded innovation •Better quality customer service •More efficient processes •More experienced staff Organisational Benefits Codified Technology Awad & Ghaziri Knowledge Management Cycle KM Initiatives KM Initiatives KM initiative can be described as a systematic attempt to manage knowledge so as to make it visible, and accessible in the right format and at the right time for the benefit of the organisation Any KM initiative focus on one or more KM processes KM Initiatives Most of the KM initiatives have one of three aims: Make knowledge visible through maps, yellow pages, and hypertext Develop knowledge-intensive culture Build a knowledge infrastructure Knowledge Infrastructure Knowledge infrastructure is the set of specific resources needed to facilitate learning within organisation toward a desired strategic goal Resources could be physical, informational, and educational KM Initiatives Activities that surround the management of knowledge are those that have been depicted on the KM cycle Other activities include knowledge sharing, and knowledge seeking Note that any KM initiative must be aligned with the business objective ... knowledge Know-what knowledge Know-who knowledge Introduction to KM… What is Knowledge What is knowledge Knowledge is a fluid mix of relevant experience, values, contextual information, and expert... aspect of Knowledge Management is "getting the right knowledge to the right people at the right time in the right format" Knowledge management processes Knowledge Management Processes Capture Knowledge. .. for their grandchildren Introduction to KM… Types of Knowledge There are two types of Knowledge Explicit Knowledge Tacit Knowledge Explicit knowledge can be easily captured and codified