The Complete Guide to Knowledge Management

Learn how to build a culture of transparency and knowledge sharing in your organization.

Knowledge management

Studies suggest that Fortune 500 companies lose a combined $31.5 billion per year from failing to manage knowledge effectively. Employees repeat each other's mistakes, try to "reinvent the wheel" when solving problems, and waste hours every week searching for the information they need.

Knowledge is every organization's most valuable asset, and it's not enough to simply accumulate it – it needs to be carefully managed. But what does knowledge management actually entail?

What is knowledge management (KM)?

Knowledge management (KM) is the process of capturing, curating, organizing, sharing, and effectively applying the knowledge and information of an organization. It helps companies achieve their organizational objectives by making the best use of knowledge.

knowledge management cycle

Simply put, KM is about getting the right information to the right person at the right time.

The ultimate goal of knowledge management as a discipline is to enable a culture of continuous learning and enable knowledge to flow freely throughout an organization. To make that possible, KM focuses on the following tasks:

Knowledge management is not a one-time project. Successfully accomplishing these goals requires continuous effort – as well as appropriate workflows and tools.

What is a knowledge management system (KMS)?

A knowledge management system (KMS) is any platform you use for storing, organizing, and sharing knowledge. There are two main types of knowledge management systems:

Knowledge management system

Company wiki platform (Nuclino)

Benefits of knowledge management

There are many good reasons to invest in organizational knowledge management:

All of this helps the organization to foster innovation, boost employee productivity, and operate more efficiently overall.

Types of knowledge

To better understand the process of knowledge management, it is helpful to consider the different types of knowledge that every organization produces.

There are three main types of knowledge:

Let's look at a practical example:

These different types of knowledge can't always be effectively managed with the same approach.

Knowledge management best practices

Whether you are looking to optimize your organization's existing processes or are starting with a blank slate, there are a number of knowledge management strategies and best practices that can make your job easier:

Knowledge management process feedback

Example of feedback loops in a knowledge base (Nuclino)

Finding the right knowledge sharing tools is only one part of a knowledge management strategy. The most challenging task is changing the organizational culture, developing the needed processes, and forming the right habits.

It will not happen overnight, but with the right approach it can yield numerous long-term benefits and help your team stay on the same page, collaborate, and make better, faster decisions.

Nuclino: Your team's single source of truth

Nuclino

Nuclino is a unified workspace that helps you organize all of your team's work in one place. Instead of digging through the chaos of files and folders and drowning in endless meetings and notifications, Nuclino allows your team to break out of silos and collaborate more thoughtfully.

Try it for free

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