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Knowledge management is by far one of the most important tools in the inventory of a successful business. In other words, having a knowledge management strategy can directly impact the way your business functions and how well it performs in different aspects.

However, there’s also a different side to knowledge management. If used incorrectly, knowledge management can be harmful to your business.

Introduction

The use of a Knowledge Management system (KMS) has been prevalent for some time; however, it's not been long since technological advancements have changed the face of customer service and how it is perceived. 

Data analytics and knowledge management (KM) are two integral elements of modern business. We depend on big data to inform our business practices and customer needs, and we need KM to cultivate an environment of transparency and insights. By using the best of evolving data strategies, you can streamline knowledge management to produce actionable information that improves business efficiency.

Every business is looking for ways to improve its internal policies and management of information. Each team has its team members and each of them comes with a set of values and knowledge that enrich the entire team process. Moreover, if you are active in your domain, you have already implemented some working policies and habits. Team members are probably already exchanging information in a variety of ways, so things are already moving. But how do the entire business and every individual team manage the information they come across or share?

Some companies conduct their business as usual, and their knowledge management solutions are accelerating their growth or sustaining their momentum. Cloud technology, the hybrid workplace, graph databases, artificial intelligence, and language processing solutions lay the groundwork of a robust knowledge management environment.

Knowledge sharing at the workplace is essential for any organization that wants to grow and thrive. Successful organizations have a strong knowledge base due to teamwork support, continuous encouragement, and having an effective knowledge management system in place. While everyone in the organization is doing their best to achieve their goals, knowledge sharing can quickly change to knowledge hoarding.

In an age that is ushering in a more tech-focused society, smart cities are becoming standout initiatives for both governments and private sectors worldwide. In an effort to beautify cities, increase their accessibility, and improve general resources and sustainability in urbanized territories, cities are combining information and communication technology (ICT) with data infrastructure.

Without communication, efficient Knowledge Management (KM) would be exceptionally difficult to maintain. Communication is a knowledge manager’s best tool. By utilizing it effectively, you can strengthen literally every aspect of your business.

But how exactly do communication and KM interact? What defines their relationship? And how can you go about building seamless communication strategies?

As information and its storage gets bigger in structure with passage of time, it is important to maintain it somewhere. Knowledge is vast in any sector, any industry and is easy to access only when managed properly. One way to maintain knowledge for any industry is to use knowledge management systems.