What Is Knowledge Management?

Knowledge management is the process of capturing, organizing, distributing, and effectively using knowledge within an organization. If knowledge is successfully stored, it will be easy to access for all team members. Knowledge management is extremely important as, when done well, it can transform how an organization operates. 

In this article, you’ll learn the three types of knowledge management, the many benefits, and why you should implement knowledge management software in your company. 

What Are the Types of Knowledge Management?

There are three types of knowledge: explicit, implicit, and tacit. 

Explicit Knowledge

Explicit knowledge is easy to write down, store, and share on a large scale. It includes structured information like FAQs, instructions, raw data, reports, and diagrams. This formalized documentation can be used to do a job or make an informed decision. 

Implicit Knowledge 

Implicit knowledge is applied knowledge. It is the skills you learn from applying explicit knowledge to a certain situation. When you figure out the best way to do something, you gain implicit knowledge. You can then take that experience and use it with other learned information. This type of knowledge can be difficult to document.

Tacit Knowledge  

Tacit knowledge is gained from personal experience. It is intangible information that can be difficult to explain straightforwardly. Tacit knowledge is often personal or cultural and is understood without being said. You gain this knowledge with experience over time. If it can be captured, it should be added to a knowledge base, as it will become easier to share with others. 

Benefits of Knowledge Management

When information is easy to access, share, and update, your organization will become more productive and cost-efficient. No important knowledge will leave with key employees who may leave the company. 

Knowledge management software will help your business immensely. Employees will have access to the knowledge base of the entire company and can therefore improve the speed and quality of making decisions. They can look at the assessments, numbers, market conditions, and more to determine the best course of action. 

Information will be easily accessible and stored in a way where anyone can find what they’re looking for. As a result, the organization can give customers quick and accurate answers and reduce the time it may take to improve their product or service. 

More benefits include increased collaboration and communication, standardized processes, improved quality of data and information, and better training for new employees. 

Conclusion – Why You Should Implement a Knowledge Management Software 

Ongoing knowledge transfer and a knowledge management system is the best way to avoid employee burnout and reduce turnover rates within an organization. With knowledge management software, you will avoid key information leaving the company when a seasoned employee leaves with it. 
Knowledge management software, like Cyper Learning Curve, can standardize and automate how information is stored while making it easy for employees to share their knowledge. As a result, you will have increased customer satisfaction, decreased overall costs, and increased innovation within your company.

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