Many companies management’s often confuse business intelligence (BI) and knowledge management (KM) as the same thing, but Hansen indicates that there is a difference between the two. BI is a set of technologies that gather and analyze data to improve decision making, the data can be from the past, present and future that is analyzed and focused data. In addition, Business intelligence (BI) is a technology-driven procedure for investigating information and presenting actionable data to benefit company administrators, business administrators and other end users make more knowledgeable business decisions, While KM is a process of finding, selecting, organizing and presenting information in a way that improves comprehension in a specific area of …show more content…
It is therefore prudent that organizations identify ways to improve their knowledge management. Identification of what knowledge management strategy is ideal, how to foster sharing and dissemination of knowledge among people, embracing good organizational values, providing incentives are some of the suggestions that can improve knowledge management .Artificial intelligence in the current era has seen productivity of people rise and it is considered that the same trend may continue to the future. This phenomenon will also see individuals working as part time employees as artificial intelligence technology performs multiple tasks faster with a higher output. Artificial intelligence as explored in computerization has seen many organizations in different sectors and fields maximize their benefits. Although some are skeptical on the effect AI has on labor workforce but according to Frey, some tasks such as social intelligence in managing tasks that involve persuasion negotiation is still a human function and computerization of such tasks may take a while. In the future organizations should embrace more the knowledge harvesting process to capture knowledge that may otherwise be lost when employees with such knowledge retire or move to other firms. Organization will also focus on how well to capture tacit knowledge and incorporate it into their knowledge database. The changes in the business environment will also see organizations focusing on intangible resources as one of their competitive
Decision making can be defined as an identification process and problem resolution (Draft, 1986). Researchers present three common main phases of the decision making process: the intelligence phase, the conception phase, and the selection phase (Adam, 2012). To understand the relationship of knowledge management to each of these phases, it is firstly important to have a look at three different knowledge management strategies (KMS). These are the Personalization KMS, the Socialization KMS, and the Technological KMS. The Personalization KMS is designed for the emergence of knowledge where the knowledge is closely tied to the individual who developed it (Hansen et al., 1999). The Socialization KMS combines both Technological and Personalization KMS and is designed to exchange and to pool knowledge. Finally, the Technological KMS is designed for
Williams, Steve, and Nancy Williams. The Profit Impact of Business Intelligence. Amsterdam: Elsevier/Morgan Kaufmann, 2007. Print
In fact, the acquisition, documentation and validation, and evaluation of business knowledge is the core of the analysis. By definition the same, and business knowledge is to know about the work, what it is, what you are doing, why and how it does what it does, and how it can be done with those activities more efficiently. You can develop the knowledge of the business at any level. However, the level at which begins analyst, more comprehensive and higher meaning to become knowledge. (martymodell,
T.D. Wilson (2002) makes a point of identifying several sources of articles, references and course syllabi with varying takes on knowledge management within organizations. Wilson is convinced that organizations misuse the terminology “knowledge management” and that their activities are more concerned with managing information than with the management of knowledge (Wilson, 2002). Wilson defines knowledge as involving “the mental processes of comprehension” or, as “what we know” and information as the expression of what we know and can convey through messages (Wilson, 2002). By researching the use of the “knowledge management” Wilson conveys that the terms knowledge and information are used interchangeably, which results in an inaccurate application
Wixom, B. H., Watson, H. J., & Werner, T. (2011). Developing an enterprise business intelligence capability: The norfolk southern journey. MIS Quarterly Executive, 10(2), 61-71.
Top-down, Bottom-up technology must be followed to get a successful BI. Business Intelligence System will fail without Executive sponsorship. Ideally, 1 or 2 executives are required in the system. The management support is MUST to undertake the BI effect from the grassroots. The step should be followed by the appointment of Chief Business Intelligence Officer (BIO).
(106) 'Knowledge management means using the ideas and experience of employees, customers and suppliers to improve the organisation’s performance. ' (5) Knowledge management (KM) is best when 'it is in alignment with organizational culture, structure and strategy ' (5). For this reason, the aim of this briefing document is to advise Santander on solutions to potential KM barriers employees may face by discussing three key barriers- culture, technology and leadership.
In order to see how artificial intelligence plays a role on today’s society, I believe it is important to dispel any misconceptions about what artificial intelligence is. Artificial intelligence has been defined many different ways, but the commonality between all of them is that artificial intelligence theory and development of computer systems that are able to perform tasks that would normally require a human intelligence such as decision making, visual recognition, or speech recognition. However, human intelligence is a very ambiguous term. I believe there are three main attributes an artificial intelligence system has that makes it representative of human intelligence (Source 1). The first is problem solving, the ability to look ahead several steps in the decision making process and being able to choose the best solution (Source 1). The second is the representation of knowledge (Source 1). While knowledge is usually gained through experience or education, intelligent agents could very well possibly have a different form of knowledge. Access to the internet, the la...
First of all, business intelligence analysis requires the capturing of information and storing in a single location for effective data analysis. Currently, data analysis is supported by transactional systems, business specific data marts, and other ad-hoc processes. Information is distributed making it difficult and time-consuming to access. Business teams have adapted to this environment by creating user maintained databases and manual “work-arounds” to support new types of reporting and analysis. This has resulted in inconsistent data, redundant data storage, significant resource use for maintenance, and inefficient response to changing business needs.
Science is the body of organized knowledge. Science is the collection of ideas and theories and the methodology used by people to prove them. It is the set of methods that people follow in order to explain the things that they see, the things that they perceive and the things that they believe in.
With today’s rate of development in technology, there has also been an immense increase in global information sharing. Innovations in technology and design seem to be emerging in the market almost every month. One of the key aspects of any business is to gather, organize and efficiently apply this information. According to Antonic (2005), economic assets are fast becoming of secondary importance in the market as companies ascribe more importance to intellectual capital. With the right application of Knowledge Management methods, companies can achieve a competitive advantage through managing the immense amount of information available (Balanced Scorecard Institute, 2002).
Pasher, E., & Ronen, T. (2011). The complete guide to knowledge management: A strategic plan to leverage your company 's intellectual capital. Hoboken, N.J: John Wiley & Sons.
Business Intelligence allows the decision maker to understand their business and the business environment to make important decisions. The main idea of Business Intelligence is increasing efficiency and turning your data to profit.
In most organizations, effective utilization of knowledge increases productivity, creates competitive advantage and, ultimately, improves profits.
Business intelligence, or BI, is an umbrella term that refers to a variety of software applications used to analyze an organization’s raw data. BI as a discipline is made up of several related activities, including data mining, online analytical processing, querying and reporting. Data mining is the process of sorting through large amounts of data and picking out relevant information. It is usually used by business intelligence organizations, and financial analysts, but is increasingly being used in the sciences to extract information from the enormous data sets generated by modern experimental and observational methods.