Knowledge Management – Defining the Business Need
Successful knowledge management is not achieved by chance, rather it is a function of understanding the scope of the required effort, establishing a clear vision of the expected benefits, and securing the support and resources necessary to execute.
Defining the Business Need
The formulation of a successful knowledge management strategy is based on providing answers to five fundamental questions:
- What problem are we trying to solve?
- What benefits can we expect?
- How will we measure progress against our goals?
- What level of support is required from the organization?
- What is the cost to execute this initiative?
Although it may not be possible to answer these questions conclusively, it is essential to invest sufficient effort towards a reasonable response to each question. Further, there must be organizational acceptance. Failure to articulate answers to the fundamental questions may result in unrealistic expectations or lack of executive support to achieve project objectives.
Providing answers to these questions is not only required at the inception of a knowledge management initiative but must be an ongoing activity as the project evolves and matures.
As knowledge management mature, it is essential to conduct a formal cost – benefit analysis to determine the proper level of investment. Continued success will come from efforts to enhance content creation processes, employ enhanced technologies and deliver tangible business value by leveraging knowledge assets. This research report introduces an approach to measure the return from knowledge management initiatives.
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For knowledge management to yield maximum benefit the organization must properly fund and support the initiative. The lack of support is the primary reason for the failure of knowledge management projects.
Self-help and service automation (e.g. chatbots) provide a means to save money and lower the overall costs of service delivery. Consider however that savings from deflection represents an opportunity to reinvest to improve service outcomes by reallocating staff to high value activities (e.g. onboarding, adoption, retention, expansion, etc.). This article introduces the top opportunities to reinvest in service.
Using an accurate measure of deflection is imperative. If not measured correctly it is easy to overstate the impact of self-help and service automation on assisted support demand.
The average rate of case deflection within the technology industry is 23%. This article defines deflection and provides a step by step guide to implement a reliable deflection metric. This report is FREE with registration.
More than two-thirds of customers indicate that they attempt to help themselves when they need technical assistance. A general web search (e.g. Google or Bing) is the most likely first action customers take when attempting to resolve technical support issues on their own. In general customers find good information and are reasonably satisfied with their results. This ServiceXRG study examines the expectations and perceptions of 588 individuals that use self-help resources to resolve technical support issues.
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...
Knowledge management success must be clearly defined and articulated to establish reasonable expectations and performance targets for Knowledge Management initiatives.