What are Knowledge Management solutions?

Peter Drucker, famous for declaring, "Information only becomes knowledge in the hands of someone who knows what to do with it," coined the term "knowledge management" in the 1950s. 

Knowledge management has since become a specialized emphasis area for larger companies.

There have been numerous discussions about how knowledge management solutions can be implemented since the subject was created in 1991. 

One of the most popular is using a knowledge management software solution to support customer service and technical support operations such as contact/call centers, shared service centers, web self-service functions, and help desks, including ITSM (IT Service Management) operations approaches in businesses. 

Evolution of Knowledge Management solutions

Many attempts at internal systems have been made, ranging from internal "shared drives" to massive databases with intricate hyperlinks and meta-data. 

The accumulation of big data has made it increasingly difficult to find the exact information needed without a lengthy search or an intimate understanding of where the data is stored. 

In addition to offering an internal content management function and reports to assess knowledge base usage and knowledge gaps, the best software for Knowledge Management simply indexes a wide range of information resources before filtering and prioritizing relevant knowledge.

#1 - Central repository (Knowledge base systems)

Many information sources are accessible from a single location.

The system indexes all required content from all relevant sources without requiring any information to be moved to a single location and uses a natural language search function to allow users to quickly and easily retrieve the information.

This enables quick and easy solution deployment without the need to reformat or repurpose vast amounts of legacy data.

#2 - Guiding customers to answers (Content relationship Management systems) 

Users frequently know how to articulate their problem but are unsure how the answer will be phrased or communicated. 

Staff, partners, and customers can describe the issue, pain, or query in their own words and enter the term immediately into a search using the best software for knowledge management. 

The ai knowledge base solution will find and display solutions known to handle similar issues in order of importance.

#3 - NLP (AI – powered solutions)

Users can utilize natural language search instead of typing in keywords to ask inquiries. 

Documents are frequently prepared in informal language that differs from the language used to ask questions. 

Natural language search functionality is currently a significant element of the best software for knowledge management.

It allows the system to grasp the context of the query rather than just the keywords required for a successful search result.

This is especially significant in industries that employ industry jargon, such as finance, where a direct debit is commonly referred to as DD. 

Natural language capabilities can permit the use of the organization's common words.

#4 - Self-learning (Decision support systems) 

A self-learning capacity in a knowledge management solution captures the continually changing flow of information. 

This keeps the index up to date with the actual phrase used in inquiries. 

New content can be added to the content repositories that are already in use after the initial implementation.

Self-learning also includes users determining the quality of the solutions offered, so the most useful options are presented first.

#5 - Single source of truth (Document management systems) 

A knowledge management solution can also help with a push strategy, which allows specific content to be 'pushed' to a specified user group. 

This guarantees that new information reaches the right individuals at the right time.

The system keeps track of who read the material and when.

This allows administrative users to see who needs to be updated on new information.

The system may also manage user profiles across an organization, allowing each user profile to have specific access to pertinent information. 

This allows knowledge to be transmitted both within and outside of the company while maintaining control.

#6 - Identifying and closing knowledge gaps (Learning Management Systems)

A new age knowledge management solution can also identify knowledge gaps and refer unanswered concerns and queries to content specialists unlike old DMS like Sharepoint, who can react to the inquiry by updating the system with new information. 

This eliminates the need to elevate the same investigation to relevant experts numerous times. 

Tracking and responding to knowledge gaps also removes the guesswork involved in determining where knowledge gaps may exist before developing new solutions. 

#7 - Social communication systems

Knowledge is created and shared whenever your teams interact with one another.

It's critical, then, to analyze how your organization's communication and collaboration technologies relate to your knowledge management goals.

You want to know, in particular, that:

· In the first place, your teams can easily share knowledge and information.

· This information can be shared in a variety of ways.

· At all times, engagements are recorded, and knowledge is saved.

#8 – Decision support systems 

Decision support systems are technologies that assist people in making informed business decisions by analyzing large amounts of data. 

While DSSs can be used to collect and handle any form of data, the most frequent data types involved are:

· Performance in marketing and sales

· Services of assistance

· Internal operations

The idea is to use data to find the paths that will lead to the maximum development for your company, whether that growth is financial, productivity, or something else.

Conclusion

When implemented correctly, a knowledge management system can help your company raise customer happiness, lower customer care expenses, and boost overall customer success ROI.

While the tactical features of knowledge management systems may differ, the goal remains the same: to educate your consumers to effectively use and interact with your products or services.

You may accomplish this by using a combination of knowledge base FAQs, tutorials, academies, how-to articles, and forums.

Any aspect of a knowledge management system should contribute to addressing and educating consumers and gathering information about your products or services.

Author Bio

Sowmya Juttukonda is a content developer & digital media specialist at Knowmax, an AI knowledge base management platform for enterprises that helps in improving the agent experience & other customer service goals.