We all know what data management is: the practice of collecting, organising, protecting, and storing an organisation's data so it can be analysed for business decisions. As organisations create and consume data at unprecedented rates, data management solutions become essential for making sense of the vast quantities of data.
On the other hand, we have knowledgemanagement, which is the process of identifying, organising, storing and disseminating information within an organisation. When knowledge is not easily accessible within an organisation, it can be incredibly costly to a business as valuable time is spent seeking out relevant information versus completing outcome-focused tasks. In other words, knowledge management is the next step for data management, when raw data within the information is transformed into pure knowledge (i.e., a library) and organised efficiently so that each department can easily access its most important information when needed.
Usually, when a company already has a system like this, they have what is called a “knowledge base.”
It is well known that companies that have a knowledge management system ought to achieve business outcomes more quickly, increasing their operational leverage, reducing costs, a thorough organisation within the whole company, as well as enhanced collaboration within different teams not to mention the ability to either pivot or persevere when it’s needed.
THE FOUNDERS
Gabriel Palma is a master in economics and innovation management at the Faculty of Economics of Porto University and honorary merit of academic excellence and student of the year for a B.B.A at the University Centre of FEI. He's currently active in advising and counselling entrepreneurs and SMEs on how to redesign their business models, achieve large scale, and innovate in their domains. He had also evaluated 60+ startups globally within the 100 Open Startups programme, along with 6+ years of experience in advisory and counselling. Edson Palma, his father, has 30+ years of practising Coaching with business leaders in Brazil, not to mention 30+ years of expertise working at Mercedes-Benz, the leading German luxury automaker vehicle.
HOW Virum Literis CAN HELP YOU
Leverage: understanding the right time to either pivot or persevere;
Opportunity: being a generalist is more important than being a specialist;
Innovation: different from progress is the business cutting edge art to embrace the future being cost efficient;
Science: scientific methods are paramount for every business leader;
Control Environment: change does not need to involve risk and loss of operational leverage.