INFORMATION
Information refers to data obtained from a study or an investigation to ascertain facts and knowledge about a subject. Organizations realize that Knowledge Management and Big Data analysis are particularly useful in meeting their objectives by maintaining Competitive Intelligence. The above-stated concepts are discussed as follows.
Knowledge Management is generating, distributing, utilizing, and managing an organization’s information and knowledge. It is particularly useful since it trains the employees to become smarter, boosting their efficiency, and improving the quality of decisions made. It is suggested that Knowledge Management theory helps shape the installation of big data systems tasked with sharing information. (Rothberg and Erickson, 2017) As an IT professional, I would focus on designing big data systems that help employees make fast and intelligent decisions. The system would integrate Knowledge Management and Business Intelligence.
Big Data has broader implications in the field of Information Theory. It impacts the way Knowledge Management is practiced among organizations. Analyzing these vast amounts of data generated today possess immense value. Companies are leaning towards the analysis of patterns and predictions using algorithms to make data-driven decisions. According to (Tian, 2017), literary works on big data do not consider the strategies, frameworks, and dimensions of big data. There is a need for further advanced big data technologies to contribute to Knowledge Management. As an IT professional, I would apply Big Data technologies that link data, information, and insights. Big Data algorithms would work together with Knowledge Management processes.
Competitive Intelligence is the process of gathering and analyzing information to develop insights that maintain a company’s competitive edge. Organizations must consider the Competitive Intelligence process and adopt a coopetition behavior with other businesses. (Chevallier, Laarraf, Lacam, Miloudi & Salvetat, 2016) Companies need to understand their competitors and communicate intelligence to the relevant departments. As an IT professional, I would design a competitive intelligence process for an organization that enables generating and sharing insights from the competitive markets.
References
Chevallier, C., Laarraf, Z., Lacam, J., Miloudi, A., & Salvetat, D. (2016). Competitive
intelligence, knowledge management and coopetition. Business Process Management Journal, 22(6), 1192-1211. doi: 10.1108/bpmj-11-2015-0161
Rothberg, H. and Erickson, G., 2017. Big data systems: knowledge transfer or intelligence
insights?. Journal of Knowledge Management, [online] 21(1), pp.92-112. Available at:
<https://www.emerald.com/insight/content/doi/10.1108/JKM-07-2015-0300/full/html>.
Tian, X., 2017. Big data and knowledge management: a case of déjà vu or back to the future?.
Journal of Knowledge Management, [online] 21(1), pp.113-131. Available at:
<https://www.emerald.com/insight/content/doi/10.1108/JKM-07-2015-0277/full/html>.