Knowledge Management

What Is Knowledge Management?

Knowledge management is the systematic process of identifying, organizing, storing, and circulating information within an organization. When people can readily access information at work, they have more time to focus on meaningful tasks and contribute to the company’s success.

Overall, efficient knowledge management systems enable informed decision-making, increased collaboration, and faster innovation.

5 Examples of Knowledge Management Systems

Knowledge management systems differ between organizations based on size, work culture, and business objectives. Common solutions include:

1. Time tracking software: Tracking attendance and time spent on projects can help businesses be more efficient and ensure accurate paydays.
2. Performance management software: Leveraging software to routinely conduct reviews, give constructive feedback, and generate reports helps increase employee engagement and creates opportunities to promptly address problems.
3. Applicant tracking system (ATS): Recruiters use an ATS to keep applicant information organized throughout the hiring process and provide a seamless candidate experience.
4. Customer relationship management (CRM) software: Centralizing information about customers and prospects helps businesses drive sales and foster long-term relationships.
5. Document management software: This system is used to create, revise, store, share, and manage files to improve collaboration and access to information within an organization.

Types of Knowledge in Business

Knowledge is the awareness an organization or person gains through collaboration, education, or experience. According to Bloom’s Taxonomy of Learning, there are six aspects of learning: remembering, understanding, applying, analyzing, evaluating, and creating. Each of these is rooted in four types of knowledge:

• Factual knowledge is the recollection of facts, such as dates, events, ideas, and terminology (e.g., the name of the company's founder or when the business opened).
• Conceptual knowledge connects pieces of concepts or theories together (e.g., a marketing team seeing higher customer engagement on content with both clear calls-to-action and eye-catching visuals).
• Procedural knowledge is an understanding of how to perform specific skills or tasks (e.g., a cashier knowing how to quickly ring up purchases and balance the register).
• Metacognitive knowledge refers to the use of prior knowledge to develop new processes and strategies (e.g., after analyzing bottlenecks, an HR team creates a new and improved hiring process).

It’s important to note that types of knowledge and the cognitive processes behind learning are highly discussed topics, so Bloom’s Taxonomy is one of many frameworks available for reference.

Do You Need a Knowledge Management Certification?

Generally, a knowledge management certification is not required for employment. However, it can be beneficial depending on your career goals, industry standards, and personal learning preferences. Program courses cover topics like information technology, business processes, data analysis, organizational development, and more, helping professionals broaden their expertise across a diverse range of fields.

Professional knowledge management credentials are available from a variety of organizations, many of which are specific to the learning institution and are updated based on programming. For instance, the KM Institute advertises the following certifications:

• Certified Knowledge Manager (CKM)
• Certified Knowledge Specialist (CKS)
• Certified Knowledge Practitioner (CKP)
• e-Certified Knowledge Manager (eCKM)

Some colleges and universities also offer knowledge management degree programs at the graduate level.