What Is a Knowledge-Based Management System? How to Choose the Best One?
Information sharing and knowledge management are critical for all businesses, regardless of their type and size. According to International Data Corp, Fortune 500 companies lose at least $31.5 billion a year due to poor-knowledge sharing practices. That is why several companies invest in knowledge management platforms to share knowledge within an organization.
So, what is knowledge management?
Knowledge management is not all about gathering, storing, organizing, retrieving, and sharing knowledge within the organization. Rather it is all about enhancing corporate learning, collaboration and communication, and the organization’s productivity. Given the power of knowledge to work efficiency and business productivity, companies must have a knowledge-based system in place.
There are two types ...