Definition: What is knowledge management?
Knowledge management describes the systematic use of an organization's intellectual capital. This is not just about managing data, but above all about knowledge
- to create
- to develop
- to distribute
- to save
- and apply
to drive forward companies' goals and innovations.
Knowledge management in companies
Knowledge management can also be carried out by individuals — but it is particularly relevant in companies. In today's fast-paced business world, knowledge management is not just an option, but a strategic necessity.
Companies are faced with the challenge of managing large amounts of information and transforming it into knowledge and using it effectively. Why is that important? This knowledge forms the basis for well-founded decisions, innovative solutions and continuous development.
Knowledge management in companies therefore tries to bring together the expertise of employees, strengthen informal networks and promote a culture of knowledge exchange.
Benefits of knowledge management
Knowledge management offers companies many different benefits. Let's have a look:
- Accelerated decision making: Quick access to current and relevant knowledge enables agile and data-based decision-making processes.
- Fostering innovation: A culture that promotes the exchange of knowledge creates a breeding ground for creativity and innovative ideas.
- Increasing efficiency: Employees can work more efficiently when they can seamlessly access the information they need without wasting time searching. With a central knowledge tool, they don't have to search long for the right contact person. Instead, they can obtain information on their own.
- Reducing loss of knowledge: Structured knowledge databases minimize the loss of know-how in the event of employee turnover and retirement.
- Improved collaboration: Knowledge platforms make it easier to share knowledge and ideas with colleagues. Communication within the team also benefits from this.
- Competitive advantage: Effective knowledge management strengthens competitiveness, makes companies more agile and promotes their ability to adapt to change.
Step-by-step guide: tasks in knowledge management
Implementing effective knowledge management requires a structured approach. Here is a step-by-step guide that explains the crucial tasks in knowledge management:
- Analyze requirements: Before you start managing knowledge, it's important to understand and analyze your organization's needs. Where do knowledge gaps exist? What are critical areas where knowledge is required? What are the requirements of the various departments and teams in the company?
- Identify sources of knowledge: Identify the various sources of knowledge in your organization. These can be documents, experts, internal systems, or even informal networks within the workforce. Be sure to talk to different colleagues to do so. You'll be surprised where unused knowledge lies dormant throughout the organization.
- Define categories of knowledge: Structure identified knowledge by setting clear categories and taxonomies. This makes it easier to search for and access relevant information later on.
- Build a knowledge management team: Set up a dedicated team responsible for knowledge management. This team should coordinate implementation and continuously supervise and develop knowledge management.
- Select tools: Select an appropriate knowledge management tool that fits your organization's needs. Consider the needs of users, whether the solution can be integrated into existing systems, and to what extent you can scale it.
- Create knowledge management policies: Develop clear guidelines and processes for knowledge management. Define how information should be created, revised, approved, and archived. This allows all employees to implement it consistently.
- Conduct training and create awareness: Train employees and introduce new knowledge management tools and guidelines. In particular, you should explain why the exchange of knowledge in the company is important.
- Encourage knowledge sharing: Implement routines within the organization that facilitate the continuous exchange of knowledge. You can drive this forward, for example, via reminders on the intranet, through events such as panel discussions with experts, or by introducing collaboration tools.
- Update and review regularly: Knowledge management is not a one-time task. Make sure content is updated regularly to keep it relevant. Check how effective your knowledge management processes are and adjust them as needed.
4 tools in comparison
For efficient knowledge management, supportive Tools essential. The selection is huge — from content management systems to knowledge databases and collaboration platforms. This can overwhelm many for now. That's why we looked at four different tools and compared their respective advantages and disadvantages.
Confluence
Confluence, developed by Atlassian, is a comprehensive solution that enables teams to work together on projects and share knowledge on a central web platform. With a clear page structure, comment functions and integrations with other Atlassian products, Confluence offers a versatile environment for knowledge management.
benefits
- Collaborative editing
- Integrate with other tools
- Structured knowledge organization
drawbacks
- License costs for larger teams
- High complexity for administrators
- No exact search possible
Notion
Notion is an all-in-one platform for collaboration, knowledge and project management. With its flexible structure, Notion allows you to create individual knowledge databases and promotes real-time collaboration.
benefits
- Flexible structure and customization options
- Collaborative editing in real time
- Versatile for personal and team-based projects
drawbacks
- High license costs for larger teams
- Limited integrations with other tools
- Long training for extensive use
Microsoft SharePoint
SharePoint, integrated with Microsoft 365, is a system for document management. With document management, team websites, and many customization options, SharePoint can also make knowledge management easier.
benefits
- Integrate with Microsoft 365
- Powerful document management
- Team sites for collaborative work
drawbacks
- Complexity of customization options
- No exact search possible
- User interface that can be perceived as cluttered
- Lack of ability to categorize content
guru
Guru is a knowledge management platform that helps companies capture, organize, and retrieve relevant information using artificial intelligence. The aim is to promote collaboration and work processes between teams in an innovative way. For example, the program makes AI-based recommendations for relevant content.
benefits
- Browser extension that allows users to capture and share knowledge from anywhere on the web
- Contextual knowledge delivery and AI-based recommendations
- Easy integration with existing tools
drawbacks
- Expenses for advanced features
- Dependence on data quality and timeliness
- Long training for extensive use
While Confluence, Notion, and SharePoint cover a wide range of applications, Guru offers AI-powered features an innovative approach to automated knowledge management. Which tool is optimal for your own company depends on the respective requirements and preferences. So take a look at the needs in your company and evaluate possible tools on this basis.
How to: 6 tips for ideal knowledge management
Holistic knowledge management not only opens the door to a more efficient organization — it also creates the basis for sustainable success and innovative strength. But how does knowledge management really work once it's set up? Here are six practical tips:
- Accompany the introduction of the new knowledge base with an internal communication campaign: Post articles on the topic on the intranet, offer dedicated calls with the leadership and organise activities in the office that draw attention to the topic.
- Provide training time and time again to ensure that employees are familiar with the knowledge management tool and understand its features.
- Don't hide your knowledge base in the depths of the intranet. It should be easily and quickly accessible so that employees can actively use it and regularly access relevant information.
- Knowledge management is also a cultural issue. In order for the sharing of knowledge to be lived in the company, managers should set a good example and be role models for their teams.
- Implement incentive systems to encourage knowledge sharing. For example, you could start an internal knowledge challenge and choose “Knowledge Champions” on a monthly basis.
- Implement feedback mechanisms so that you can continuously evaluate and develop knowledge management.
conclusion
In a world where information quickly becomes obsolete, knowledge management is essential. It not only enables companies to retain relevant know-how, but also to actively use it for corporate success. The right strategy, supported by best tools and a supportive corporate culture, lays the foundation for effective knowledge management and thus ensures the future viability of the organization.
