What is knowledge management and example ?

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   Knowledge Management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organizational processes or practice.

   An Example
   This example uses a bank savings account to show how data, information, knowledge, and wisdom relate to principal, interest rate, and interest.

   Data: The numbers 100 or 5%, completely out of context, are just pieces of data. Interest, principal, and interest rate, out of context, are not much more than data as each has multiple meanings which are context dependent.

   Information: If I establish a bank savings account as the basis for context, then interest, principal, and interest rate become meaningful in that context with specific interpretations.

   Principal is the amount of money, $100, in the savings account.
   Interest rate, 5%, is the factor used by the bank to compute interest on the principal.

   Knowledge: If I put $100 in my savings account, and the bank pays 5% interest yearly, then at the end of one year the bank will compute the interest of $5 and add it to my principal and I will have $105 in the bank. This pattern represents knowledge, which, when I understand it, allows me to understand how the pattern will evolve over time and the results it will produce. In understanding the pattern, I know, and what I know is knowledge. If I deposit more money in my account, I will earn more interest, while if I withdraw money from my account, I will earn less interest.

   Answer by Anup 546 days ago