MGT2320 Knowledge Management and Big Data in Organizations is an exciting course that explores the relationship between information, knowledge, and technology in the modern business world. In today’s fast-paced, data-driven environment, the effective management of knowledge is critical to the success of any organization. By understanding how to identify, capture, store, and share knowledge effectively, organizations can gain a competitive edge and achieve their strategic goals.

This course delves into the fundamental concepts of knowledge management and provides an overview of the latest technologies and techniques for managing big data. You will explore the various approaches to knowledge management, including organizational learning, knowledge creation, and knowledge sharing, and examine the role of big data in decision-making and problem-solving.

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In this section, we provide some assignment outlines. These are:

Assignment Outline 1: Distinguish clearly between the main knowledge typologies (tacit vs explicit) and the different types of knowledge resources.

The main knowledge typologies are tacit and explicit knowledge. Tacit knowledge refers to knowledge that is difficult to codify or transfer to others, as it is based on personal experience, intuition, and context-specific factors. Explicit knowledge, on the other hand, is formal and systematic, and can be easily expressed in words, symbols, or other forms of communication.

The different types of knowledge resources can be categorized as follows:

  1. Human resources: These include the knowledge, skills, and expertise of individuals. Human resources are typically associated with tacit knowledge, as they are often embedded in personal experience and hard to articulate or transfer to others.

  2. Information resources: These include data, facts, and other structured information. Information resources are often associated with explicit knowledge, as they can be easily expressed in words or other forms of communication.

  3. Organizational resources: These include the policies, procedures, and practices that are developed by organizations to manage knowledge. Organizational resources can help to formalize and structure knowledge, making it more explicit and easier to share.

  4. Technological resources: These include tools and systems that support knowledge management, such as databases, search engines, and collaboration software. Technological resources can help to codify and transfer knowledge, making it more explicit and accessible to others.

Assignment Outline 2: Describe the role of people, processes and technology in KM.

People, processes, and technology are three key components in the practice of knowledge management (KM), and they all play critical roles in ensuring the success of KM initiatives.

  1. People: People are the primary drivers of knowledge management in any organization. They include knowledge workers, managers, leaders, and other stakeholders who contribute to the creation, sharing, and use of knowledge. People must be empowered to participate in knowledge sharing and be provided with the necessary skills and training to do so effectively. They must also be encouraged to collaborate and communicate across functions and departments to promote knowledge sharing.

  2. Processes: Processes are the methods, procedures, and guidelines that organizations use to manage knowledge. They provide structure and consistency to knowledge management activities, ensuring that knowledge is captured, organized, shared, and used effectively. Processes may include knowledge capture and documentation, knowledge sharing and dissemination, knowledge storage and retrieval, and knowledge creation and innovation.

  3. Technology: Technology refers to the tools, platforms, and systems that enable knowledge management activities. It includes knowledge management software, collaboration tools, social media, and other technologies that facilitate knowledge sharing and communication. Technology plays a critical role in knowledge management by providing platforms for sharing, storage, and retrieval of knowledge.

Assignment Outline 3: Define the SECI model in relation to knowledge creation.

The SECI model is a framework for understanding the process of knowledge creation and knowledge management. It was developed by Ikujiro Nonaka and Hirotaka Takeuchi in the 1990s, and it outlines four different modes of knowledge conversion: socialization, externalization, combination, and internalization.

The SECI model is based on the idea that knowledge is created and shared through interactions between individuals and within organizations. The model emphasizes the importance of social interactions and collaboration in the creation and dissemination of knowledge.

The four modes of knowledge conversion in the SECI model are:

  1. Socialization: This is the process of sharing tacit knowledge through personal interactions and experiences. In this mode, individuals learn through observation, imitation, and practice. Socialization involves the transfer of knowledge from one person to another through conversation, storytelling, and other informal means.

  2. Externalization: This mode involves the articulation of tacit knowledge into explicit forms, such as documents, diagrams, or models. Externalization allows individuals to make their tacit knowledge more accessible to others, and it provides a foundation for further knowledge creation and sharing.

  3. Combination: In this mode, explicit knowledge is combined and reconfigured to create new knowledge. Combination involves the integration of different types of knowledge, such as scientific, technical, and experiential knowledge. This mode often occurs through group discussions, brainstorming sessions, and other collaborative activities.

  4. Internalization: This is the process of taking explicit knowledge and making it tacit through personal experience and practice. Internalization involves the incorporation of new knowledge into an individual’s existing knowledge and skills, and it leads to the development of new ways of thinking and acting.

Assignment Outline 4: Identify the important KM enablers and KM processes.

Knowledge Management (KM) enablers and processes are essential for organizations to manage knowledge effectively. Here are some of the important KM enablers and KM processes:

KM Enablers:

  1. Culture: A knowledge-sharing culture is essential for successful knowledge management. Organizations need to encourage collaboration, communication, and knowledge sharing among employees.

  2. Leadership: Effective leadership is important to drive knowledge management initiatives and create a culture of knowledge sharing.

  3. Technology: Knowledge management technology, such as document management systems, collaboration tools, and knowledge repositories, can help organizations capture, store, and share knowledge effectively.

  4. People: The knowledge, skills, and expertise of employees are essential for effective knowledge management. Organizations need to invest in employee training and development to build knowledge management capabilities.

  5. Processes: Standardized processes for knowledge creation, capture, storage, sharing, and application are important for successful knowledge management.

KM Processes:

  1. Knowledge Creation: The process of generating new knowledge through research, development, and innovation.

  2. Knowledge Capture: The process of identifying, capturing, and storing knowledge in a way that makes it easily accessible.

  3. Knowledge Sharing: The process of sharing knowledge among individuals and teams within an organization.

  4. Knowledge Application: The process of applying knowledge to solve problems and create new opportunities.

  5. Knowledge Transfer: The process of transferring knowledge from one individual or team to another within an organization.

  6. Knowledge Preservation: The process of preserving knowledge for future use, either through archiving or by capturing knowledge before employees leave the organization.

  7. Knowledge Evaluation: The process of evaluating the quality and relevance of knowledge to ensure that it meets the needs of the organization.

By focusing on these KM enablers and processes, organizations can build a strong knowledge management system that helps them capture and leverage knowledge effectively to achieve their goals.

Assignment Outline 5: Describe how to set up a strategy in a way that helps inform the types of metrics to collect.

Setting up a strategy involves defining the goals and objectives of the organization, determining the tactics and actions needed to achieve those goals, and identifying the key performance indicators (KPIs) that will measure progress towards those goals. Here are some steps that can help inform the types of metrics to collect:

  1. Identify the overall business objectives: The first step is to identify the business objectives that the strategy is intended to achieve. These objectives could be revenue growth, customer satisfaction, market share, operational efficiency, or any other goal that the organization has set for itself.

  2. Determine the tactics and actions needed to achieve the objectives: Once the objectives have been identified, the next step is to determine the tactics and actions that will be required to achieve those objectives. These tactics and actions may involve increasing marketing spend, improving product quality, hiring additional staff, or any other initiative that will help move the organization towards its goals.

  3. Identify the key performance indicators (KPIs): With the tactics and actions identified, the next step is to determine the KPIs that will be used to measure progress towards the objectives. These KPIs should be specific, measurable, and relevant to the objectives. For example, if the objective is to increase revenue growth, then KPIs such as revenue growth rate, customer lifetime value, or average order value could be relevant.

  4. Define the data sources and collection methods: Once the KPIs have been identified, the next step is to determine the data sources and collection methods that will be used to collect the data needed to calculate the KPIs. This could involve setting up systems to track website traffic, customer purchases, or social media engagement, among other things.

  5. Establish a data analysis and reporting process: Finally, it’s important to establish a data analysis and reporting process that will help make sense of the data being collected and allow stakeholders to make informed decisions based on that data. This could involve creating dashboards, reports, or other tools that provide real-time updates on KPI performance.

Assignment Outline 6: Recognise what are the difference sources of analytics and forecasting models available.

There are various sources of analytics and forecasting models available, each with their own strengths and weaknesses. Here are some of the most common sources:

  1. Statistical models: These models use statistical methods to analyze historical data and make predictions about future trends. Examples include linear regression, time-series analysis, and Monte Carlo simulation.

  2. Machine learning models: These models use algorithms to learn from data and make predictions or classifications. Examples include decision trees, random forests, and neural networks.

  3. Econometric models: These models are used in economics to analyze economic data and make predictions about future economic activity. Examples include input-output models, macroeconomic models, and econometric forecasting models.

  4. Expert judgment: Sometimes, experts in a particular field may use their knowledge and experience to make predictions or forecasts. This approach is often used in situations where there is limited or unreliable data.

  5. Data-driven models: These models use large amounts of data to identify patterns and make predictions. Examples include clustering models, association rule mining, and anomaly detection.

  6. Simulation models: These models use computer simulations to predict the outcome of different scenarios. They are often used in fields such as engineering, finance, and healthcare.

  7. Qualitative models: These models rely on subjective inputs, such as opinions or attitudes, to make predictions or forecasts. They are often used in fields such as marketing and social sciences.

Each source of analytics and forecasting models has its own advantages and disadvantages, and the best approach will depend on the specific situation and available data.

Assignment Outline 7: Identify how to create a “metrics dashboard”.

Creating a metrics dashboard involves several steps. Here is a general overview of the process:

  1. Determine the Metrics: First, identify the key performance indicators (KPIs) that are most important to your business or project. This will vary depending on the nature of your work, but common metrics include revenue, website traffic, customer satisfaction, and social media engagement.

  2. Choose a Dashboard Platform: There are many dashboard platforms available, including Excel, Google Sheets, Tableau, and Domo. Choose a platform that is user-friendly and can integrate with your data sources.

  3. Collect and Organize Data: Collect the data needed for each of the metrics you have identified. Organize the data in a way that can be easily imported into your dashboard platform.

  4. Design the Dashboard: Decide what information you want to display on your dashboard and how you want it to look. Use graphs, charts, and other visual elements to make the data more accessible and understandable.

  5. Create the Dashboard: Input the data into your dashboard platform and design the layout of the dashboard. Be sure to test the dashboard thoroughly to ensure that it is working properly.

  6. Analyze and Update the Dashboard: Once the dashboard is created, regularly analyze the data and make updates as needed. This will ensure that the dashboard is providing accurate and up-to-date information.

Assignment Outline 8: Using metrics and analytics to generate a “story” to internal and external stakeholders.

When it comes to using metrics and analytics to generate a “story” for stakeholders, it’s important to keep in mind that the purpose of the story is to convey the insights and key takeaways in a way that is easily understandable and actionable. Here are some steps to follow:

  1. Define your audience: Determine who your internal and external stakeholders are and what their specific interests and goals are.

  2. Choose your metrics: Decide on the metrics that will be most relevant to your audience and provide the most meaningful insights. Consider using a mix of both quantitative and qualitative data.

  3. Gather your data: Collect and analyze the data using tools such as Google Analytics, social media monitoring tools, or customer surveys.

  4. Create your narrative: Use the data to create a compelling story that highlights the key insights and takeaways. Make sure your story is clear and easy to understand, and be sure to include any supporting visuals, such as graphs or charts, that will help convey your message.

  5. Present your findings: Choose the best format for presenting your findings to your audience, whether that be in a report, presentation, or dashboard. Make sure to tailor your presentation to the needs of your audience and use language that is easy to understand.

  6. Follow up: Once you’ve presented your findings, follow up with your stakeholders to answer any questions they may have and to ensure that they understand the insights and takeaways you’ve presented.

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