Traditional vs New Age Knowledge Management: Interconnecting Thoughts

Founded in 2016, HyLyt is a secure B2B SaaS Unified Information Management suite that helps users converse and collaborate with controls to enhance productivity of remote teams using multiple apps and data silos. The firm was founded by Rajat who holds demonstrated experience in the information technology and services industry.

Information Management is the new mantra in the digital age as every click of the mouse is registering information and data on diverse subjects - work, strategy, outlook, one’s interest, client approach, meeting notes, and many others. Interestingly and inadvertently, the data is also getting generated on various types of platforms—our smartphones, home PC, office laptop, other handheld devices, social media, over calendars, and whatnot. The speed and variety of information do not really offer us time and space to organize, register, and update or delete the duplicates, ultimately leading to loss of time and energy in managing the data.

As employees spend more than 25% of their time searching for the old information and redoing the previously put in effort, the entire loop becomes a drag on the memory and computing system, thus becoming a loss to the institution in the long turn. In the age of digital solutions where ‘Data is the new Oil’ and ‘Technology the new Infrastructure’ for business, technologies like Big Data, Business Intelligence, Cloud, Internet of Things, and Artificial Intelligence are converging to offer integrated solutions that are more powerful than ever before. We are looking at solutions where everything connects and integrates through advanced usages of nanotechnology, quantum computing, and robotics.

Interestingly the pandemic enforced lockdown and work from home has magnified the issue as teams across the world scrambled to stay connected over multiple channels like Zoom, Microsoft Teams, and adapted to technologies that help in data sharing seamlessly. All this fractured information in various file formats needs safekeeping to enable uninterrupted virtual workspace and information flow at all levels. Our traditional systems currently keep data in digital files and offer a search option for only the headings which we ourselves may forget with time. The key is to have an option that will use artificial intelligence and search for one crucial word across files, even inside them.

Business Communication is set to see a decisive change as superior technology access the saved information across different folders in different file formats and can sort them using colored tags and then interconnect them for instantaneous access when needed. That will not only save a significant amount of disk space, but also eliminate the need for saving several copies of a given file in several folders, and help get rid of files no longer required. As multiple filters help employees access accurate data in less time, sharing will also be possible without exiting the screen thus saving time and providing data security.

Making the right knowledge repository available for today’s global workforce in real-time for effective business decisions is a challenge that the world is dealing with. While we are dreaming of making machines speak to each other through AI and providing a smooth virtual environment, people speaking to each other, and effective communication in the digital age has taken a beating. More so in an office where the right knowledge sharing between groups is becoming a bigger challenge. Uninterrupted knowledge management and sharing technology which can even be safe-locked if the need arises is the only solution going forward. Content that can be conveniently accessed, modified, reclassified, and updated instead of recreating the wheel each and every time will inspire collaboration and engagement in real-time.

Going digital is all about re-imagining certain aspects if not entire business processes, services, and interactions with customers, partners, and vendors. And in today’s time, business leaders need their research teams to provide insights fast at nearly the war level. While traditional knowledge management would have rendered them helpless, current digital solutions are also too fragmented and thus ineffective. Most of the traditional data warehouses and on-premise architectures that so many enterprises have, are not well equipped to handle the volume and variety that current times are witnessing.

Organizations will now need to re-adapt and map out a new architecture, in the process, enabling integration by investing in new tools and processes. They will need to not only understand each emerging technology in isolation but also how they can be leveraged together to create business value. Before experts step in to access and analyze data, leadership will need these smart tools for business intelligence and to connect to all the enablers of business effectively.

This restructuring will prove to be an extremely beneficial investment in the long run. A virtual infrastructure built on this new and integrated technology will be far more powerful and require far less maintenance than before. And with such an architecture in place, organizations will be able to effectively manage and harness data to drive business success through digital transformation.

Very soon technology-enabled interconnectivity through tags will be able to access data from old chats, convert the same into the next meeting proposition, put it in the calendar, organize the meeting by sending reminders, create a video file out of the existing information, and present it to the participants. The possibilities are endless as unstructured data such as images, videos, audio messages, real-time streams all get streamlined. The proposition of a centralized single data warehouse repository has never fully been realized, but very soon we are going to see an avalanche of technology that will plug the gap. Self-configuring and self-tuning augmented data management will include brushing up on data quality, metadata management, master data management, data integration, and database management systems. In the next two years, half of the analytical queries will be created through search, natural language processing, or voice.

As Gartner predicts, “By 2022, more than half of major new business systems will incorporate continuous intelligence that uses real-time context data to improve decisions.”