What are Big Data and Knowledge Management?
What is Big Data and Knowledge Management is a complex yet essential question? If you are managing information of any kind, it can be considered “Big Data” or more precisely” managed data”. It takes an entire organization to manage and collect data.
Traditional data gathering techniques such as surveys, questionnaires and focus groups generally collect information at one or more points in time. But there is a big problem with this approach. Surveys typically only collect data at one point in time; for example, a company may ask their customers for their opinion on their services once per month but then never asks them again about the matter. Questions and focus groups also tend to ask the same question, thus creating information overload.
On the other hand, information gathered using advanced technologies such as web analytics, artificial intelligence, and large scale data analysis and computing tends to be much less repetitive. For example, a web analytics platform automatically identifies the most valuable information and presents it to the business owner in a format that is easy to understand and navigate. The platform then makes it possible for the owner to enrich the information by providing additional data sources, which helps him/her make more informed decisions. Similarly, artificial intelligence processes to collect data from the web much more frequently and intelligently than any traditional process. Deep learning and image processing technologies also help to make the information relevant and more meaningful to the end user. These features make the data meaningful and useful to the end user.
Big data is an exciting innovation that promises to deliver tremendous gains in strategic intelligence for all companies. However, managing and utilizing it requires a whole lot of knowledge. Large amounts of data can quickly overwhelm most IT departments. As a result, most companies do not take the right steps in incorporating big data into their strategic plans. This is a shame, because this is an area where companies can actually benefit the most if they are prepared well.
Companies that embrace what is called knowledge management have a distinct advantage over their competitors. They have a unique opportunity to leverage the power of data and knowledge in order to gain a strategic advantage over the competition. As opposed to companies that do not embrace knowledge management, their competitors are forced to either invest heavily in R&D or else spend large sums of money on proprietary technologies that are not available to customers. At the same time, companies that embrace the concept of data-driven knowledge management are able to leverage the power of the Internet and the enormous amount of information that are available on the web in order to provide consumers and businesses with the kind of information that they need, when they need it.
The second part of what is big data and knowledge management? It is important for companies to understand how to manage this massive volume of data properly. Many companies have spent large sums of money on commercial tools and solutions that are developed specifically for the task of managing digital information. While these tools have been effective in some cases, many analysts believe that they do not give the companies sufficient control over the information that is being managed. In particular, many companies are unable to make sense of the relationships that they have developed with various clients and the information that has been exchanged. Without a better understanding of the challenges that are associated with managing this huge volume of data, companies may be destined to continue to encounter problems that can cost them a lot of time and money, as well as create a lot of frustration among consumers and business owners who are trying to use the tools effectively.
The other critical issue that what is big data and knowledge management? is how to ensure that this information is used in a way that provides the greatest benefit to all parties involved. It is true that big data has changed the way that many businesses interact with each other, but it is also true that without the means to effectively manage and interpret the massive amounts of data, businesses could find themselves in a very difficult position, as information overload could quickly overwhelm any entity that was not properly supported.
What are big data and knowledge management? remains one of the most important questions that a company must answer if they want to ensure that their business has the tools necessary to understand, manage, and utilize the massive amount of information that is constantly available to them. It is true that the power of computers and the Internet have changed the way that people communicate, but companies must continue to recognize the importance of the tools that they provide to help them achieve this goal. In particular, organizations must have an understanding of how their data is being managed, and how they can get the best assistance when it comes to making sense of all of the information that is at their fingertips.