Knowledge into their benefit. The best real-life examples

Topics: BusinessLeadership

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Last updated: February 15, 2019

Knowledge is thecore resource of organizations.

The successful organizations always focus onknowledge management and utilizing the knowledge in their benefit. Knowledgemanagement is the activity of acquiring, using and managing the knowledge andinformation of an organization. It is the approach to achieve organizationalgoals by making the best use of knowledge.Knowledge workersare those employees who possess the skills of acquiring and interpretinginformation to perform complex and difficult tasks to help organizations inacquiring and sustaining a competitive advantage in the market. With theadvancement of technology, the requirement of having knowledge workers inbusinesses has increased significantly during past decade. Knowledge workersprovide ideas, improvement strategies that help organizations in maintaining aleadership position in industries.

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They invent new products, develop strategiesand help organizations in keeping ahead of their competitors. With the growinguse of big data analytics, businesses are acquiring huge set of information andinterpreting it into their benefit. The best real-life examples of the valueinformation and their use.Target company usedthe big data analytics to identify and target pregnant mothers to send the promotionson baby diapers and other new born baby items before these women gave birth.They identified those customers by their purchasing trends. The women whichwere buying cotton balls, supplements and washcloths were identified by thedata scientists at target corporation.Amazon is anotherorganization that uses big data in their benefit. The online retailer hasaccess to huge amount of data on its customers; names, addresses, interests,and search histories.

Amazon uses this information in their advertisementswhich target customer specifically according to their interests. Amazon alsouses this information to improve their customer relationship. They use the basedata by the clicks per user and the time spent on each page by the user.

Conclusively, thecompanies and economies which make the best out of information obtained aregrowing rapidly. The knowledge management has become the need of organizations.This can be achieved by recruiting and supporting knowledge workers inorganizations. 

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