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Question 1/5 Data, Information and Knowledge

 “Knowledge is of two kinds. We know a subject ourselves, or we know where we can find  information on it.”         ― Samuel Johnson

In this week we will be focusing on data, information and knowledge, giving you an introduction on knowledge management. Knowledge is usually understood as the know-how  or the wisdom an individual has. The word knowledge usually it is usually linked to doing or implying know how and understanding. The knowledge in every individual is a result of experiences and how we pick up or evaluate new information from our surroundings. It is hard to define the word knowledge because of the relationship it has with other concepts which are data and information.

Data: 

Data is facts and figures that are unstructured.

Information: 

Information is data that is relevant and has a purpose; it has to be categorized, calculated and contextualized first in order for it to become information.in answers to questions that begin with what, who, where and when that is where information is found.

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In business there are two types of knowledge; tacit knowledge and explicit knowledge. The former refers to codified knowledge, such as that found in documents, databases etc. which is explicit knowledge, while the latter refers to the non codified and is often through personal experience based knowledge which is called tacit knowledge.

explicit – This is the type of knowledge most easily handled by KMS, which are very effective at facilitating the storage, retrieval, and modification of documents and texts.

From a managerial perspective, the greatest challenge with explicit knowledge is similar to information. It involves ensuring that people have access to what they need; that important knowledge is stored; and that the knowledge is reviewed, updated, or discarded.

tacit – refers to intuitive, hard to define knowledge that is largely experience based. Because of this, tacit knowledge is often context dependent and personal in nature. It is hard to communicate and deeply rooted in action, commitment, and involvement.

Tacit knowledge is also regarded as being the most valuable source of knowledge, and the most likely to lead to breakthroughs in the organization

Tacit knowledge is found in: the minds of human stakeholders. It includes cultural beliefs, values, attitudes, mental models, etc. as well as skills, capabilities and expertise. On this site, I will generally limit tacit knowledge to knowledge embodied in people, and refer separately to embedded knowledge (as defined below), whenever making this distinction is relevant.

Knowledge management is about getting the right knowledge to the right person at the right time; knowledge sharing refinement and storage. Implementing knowledge management has several dimensions which are strategy, organizational culture, organizational process, management and leadership, technology and politics.

Knowledge management is the systematic management of an organization’s knowledge assets for the purpose of creating value and meeting tactical and strategic requirements.

Personal knowledge management is an evolving set of understandings, skills and abilities that allows and individual to survive and prosper in complex and changing organizational and social environment. It places a focus on knowledge as an actual asset rather than as something tangible.

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