Knowledge Management

An organization's knowledge and information are created, shared, used, and managed using a variety of techniques known as knowledge management (KM). It speaks about a diversified strategy that makes the best use of information to accomplish organizational goals. 

ERP software can be known as a great example of knowledge management whereby processes are automated and knowledge gathered or stored can be utilized to make decisions. Within the HR department, an organization can use applications such as an HRIS to analyze, gather, and make informed decisions based on the knowledge gathered. Organizations can store their employee data, track time and conduct performance reviews and have all that data available with reports with a comprehensive HR solution. With important data readily available to the organization, making informed decisions will be easy and therefore considered good knowledge management.