Knowledge is created when information is transformed into capabilities for effective action, in other words when information is used and disseminated between people in documented form or in interaction (Rollins and Halinen 2005).Īccording to Spiegler (2003), the data-information-knowledge traditional hierarchy ascertains that technology is a means, and knowledge the result of the production process, while the reversed approach presents knowledge as feeding back information to become itself data and to provide a renewed KM system. When data is placed in some meaningful context it becomes information. KM is believed to go beyond information systems, decision support systems, and data management systems.ĭata presents observations and facts. While organisations are geared towards acquiring the latest developments, knowledge is perceived a strategic advantage.
Technology and knowledge are not substitute. Technological developments have fostered the discussion around the role of knowledge. gathering data about market including customers and competitors from various sources and sharing it within an organisation has long been the focus of the market orientation philosophy (Rollins and Halinen 2005). Knowledge constitutes the anchor of the marketing concept. Knowledge is becoming more and more valuable for organisations and is now recognised as a resource that is useful to an organisation’s ability to innovate and compete. In understanding what knowledge is, one needs to start with clarifying the more widely confused terms: data, information and knowledge. Understanding what knowledge means is important in exploiting knowledge management in organisations.
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