Relationship Amongst Datat

What is the relationship amongst data, information, and knowledge?

B.  What are the advantages of a knowledge management system?

C.  How may a knowledge management system enhance productivity?

an effective KM program should help a company do one or more of the following:

• Foster innovation by encouraging the free flow of ideas

• Improve decision making

• Improve customer service by streamlining response time

• Boost revenues by getting products and services to market faster

• Enhance employee retention rates by recognizing the value of employees' knowledge and rewarding them for it

• Streamline operations and reduce costs by eliminating redundant or unnecessary processes

1. What is the relationship amongst data, information and knowledge? Well data is a compilation of facts, volume and analytical figures that become information. And, information obtained from the data becomes structured or processed data that replicates accurateness which is turned into knowledge. Knowledge is significant information that can immediately be useful to a topic. So, as you can see data, information and knowledge are all intertwined together.

2. What are the advantages of a knowledge management system? One of the key advantages of a knowledge management system is that devices can be operated at the original location that is in charge for them, and their repairs, improvements and monitoring can be done efficiently than when the software is scattered at numerous locations.

3. How may a knowledge management system enhance productivity? An effective knowledge management system should help an organization with several business objectives like, improving decision making, stream ling processes and eliminating unnecessary processes. Additionally, revenues should improve by getting products and services marketed timely.

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