All firms have some kind of data and information that they need to gather and understand to make sense and hence, use out of. Creating useful knowledge out of this data and information is crucial for competing firms. In this paper, we will examine what options and techniques are available to businesses in order that they can enhance their ability to create information to knowledge.
Because this employee expertise is so important to them, the first step businesses must take to improve their capability of creating knowledge out of information is to understand its 'deep smarts'- what they are, how they are built and how they can be transferred to be made useful (Leonard & Swap, 2008).
Once a business understands what its knowledge assets are, it can capture and convert that knowledge each time they fear losing it. For example, consider an employee who is retiring soon. It will be useful for a firm to know what all knowledge assets he contributes to the business and how it must capture these, tacit and explicit, before this employee retires and leaves. An option given by Leonard and Swap is to adopt 'coaching'.
An employee of an organization builds up its knowledge in the shape of experience, wisdom and intuition over the years. This knowledge may be explicit, that is, things that can be easily captured, unfolded and passed around and are more open like who to call when something goes wrong. Or this knowledge can be tacit, things that cannot be captured and communicated and are silent, for example, an employee's ability to judge colleagues based on gut feeling and intuition.
This employee's knowledge, tacit or explicit, must be captured as much as it can so that whe ...