There is no limit to the number of knowledge management metrics that can be measured. There are however a finite number of metrics that must be measured. Essential metrics are those that provide insight into performance against established knowledge management goals and objectives. Two key knowledge management metrics are efficiency and effectiveness.
The ability to capture and share knowledge offers the potential to reduce the time to resolve a case thus lowering the cost of service delivery. Efficiency can be achieved by:
- First Contact Resolution – Increasing the rate that cases are closed on first contact.
- Diagnostic Time – Reducing the time it takes to diagnose a problem.
- Total Effort to Resolve (FTE) – Reducing the number of people that need to be involved in resolving a case.
- Time to Resolve (TTR) – Accelerating the time it takes to transfer knowledge to customers.
Effectiveness is the measure of how accurately a problem is resolved. Based on ServiceXRG’s research, the effectiveness of a solution is in many cases more important to a customer than the time it takes to be resolved. Effectiveness is measured by the accuracy of providing the right answer to a customer.
Effectiveness depends upon the coverage of a particular issue and the ability to find and apply this information. Effectiveness applies to both self-service and assisted transactions. The ultimate indicator of effectiveness is the acknowledgement by a customer that this issue is resolved. Effectiveness can be achieved by:
- Coverage – Providing comprehensive coverage of issues with which customers are likely to need assistance.
- Comprehension – Making certain that users of the information can find and understand how to apply the information.
For more information about the benefits of knowledge management see the following research report: