12. Business Intelligence and Knowledge Management

Question 1

What is the difference between explicit and tacit knowledge?

Answer 1

1. Explicit Knowledge: Easily shared and documented
2. Tacit Knowledge: Personal, experience-based, and harder to express

Question 2

What are the 4 processes in the SECI Model of knowledge conversion?

Answer 2

1. Socialization: Sharing tacit knowledge through experiences.
2. Externalization: Converting tacit knowledge into explicit knowledge.
3. Combination: Organizing and integrating explicit knowledge.
4. Internalization: Using explicit knowledge to develop new tacit knowledge.

Question 3

What is Business Intelligence (BI)?

Answer 3

A set of processes, tools, and systems that help organizations make data-driven decisions by analyzing data and presenting actionable insights.

Question 4

What are the components of BI systems?

Answer 4

1. Data sources (internal and external).
2. Data warehouse.
3. Analytical tools (e.g., OLAP, data mining).
4. Dashboards and reports.

Question 5

What are the main benefits of using Business Intelligence (BI)?

Answer 5

1. Improved decision-making.
2. Better understanding of market trends.
3. Increased efficiency in operations.
4. Identification of new opportunities.

Question 6

What are the 3 key processes in knowledge management?

Answer 6

1. Knowledge Capture: Gathering knowledge from various sources.
2. Knowledge Sharing: Spreading knowledge across the organization.
3. Knowledge Application: Using knowledge to solve problems or innovate.

Question 7

What are the 3 main types of knowledge management systems?

Answer 7

1. Content Management Systems (CMS): Store and manage explicit knowledge.
2. Collaborative Tools: Facilitate sharing and teamwork (e.g., Slack, Microsoft Teams).
3. Expert Systems: Capture and use expertise to assist decision-making.

Question 8

What are the challenges in implementing knowledge management?

Answer 8

1. Difficulty in capturing tacit knowledge.
2. Resistance to sharing knowledge.
3. Lack of integration between knowledge systems.
4. Ensuring knowledge is updated and relevant.

Question 9

What are 4 common tools used in Business Intelligence (BI)?

Answer 9

1. OLAP (Online Analytical Processing): Analyze data from multiple perspectives.
2. Data Mining: Identify patterns and relationships in data.
3. Dashboards: Visualize key metrics and trends.
4. Predictive Analytics: Forecast future trends based on data.

Question 10

Why is knowledge management important for organizations?

Answer 10

1. Enhances innovation by sharing ideas.
2. Improves decision-making with accessible information.
3. Reduces duplication of effort.
4. Increases efficiency in processes.