Knowledge Management is the process by which the right information is transmitted to the right person. The concept itself may not seem too complex but the process has certain intricacies, which play an instrumental role in dissemination of information. It is a concept which has close ties to corporate strategies. Corporations try to find out where the information exists and create initiatives and processes to transfer the information.
Importance of Knowledge Management
But, why is this important? Well, the success of your business depends upon the management of knowledge within the company. Its effective management, organisation and distribution is poised to maximize the value of your workforce. Successful companies tend to create knowledge pools of critical information to avoid problems and reduce reliance on a few individuals.
Knowledge Management tools
This is where knowledge management tools find their relevance. They are designed to keep information readily available to improve performance and make better decisions. These are systems designed to help with the sharing of information. But, these systems are designed to provide information internally as well as externally.
Let us look at some of the broadly used content management tools:
- Knowledge Bases: This stems from creating a repository of information. The digital repository contains all the critical information. They can be designed to be accessed externally or internally. Since this offers a single hub, users can easily find the relevant information when they need it.
- Customer Relationship Management Systems: The idea behind a CRM is to provide the best customer support. The teams of sales, marketing and customer management share key information to deliver a seamless experience to its customers. It helps them in targeting their customers and ensuring that the customer has all the information they require.
Chatbot as a Knowledge Management Tool
Communication tools are an important part of knowledge management. They generate information which stems out of communication. Modern tools of communication are establishing their hold over the realm of knowledge management. With the advent of AI, businesses are coming up with new ways for dealing with the issue.
Nowadays, people are relying on ‘chatbots’ for delivering key information to their potential customers. These are AI systems, which communicate with a real person to share information. Chatbots are armed with the power of computer processing but smart enough to understand the queries of a layman. They are designed to understand these queries through the use of common phrases, which the customer uses.
It is no doubt that if you are not putting an effective bot to work, you may get left behind. They substantially reduce the work of customer support by answering the questions of the customers. Chatbots have access to a large repository of knowledge to effectively answer the questions.
Bots are also useful as they only provide the information that is required and nothing more. They offer a ton of latitude for the owners to curate the information. Chatbots can organize the information better and make high-value information predictable to find.
Hence, we can say without doubt that chatbots are revolutionizing the process of knowledge management.