Chapter 13 Review:
The Knowledge Management Continuum:
Information: Data that have been processed into more useful forms using techniques that ranfe from simple summary formats to complex statistical routines.
Knowledge: Information to which human experise has been added.
Data: Raw, unprocessed facts and numbers.
Expertise: Skill or Knowledge in a particular area.
Explicit Knowledge: Knowledge that has been or can be articulated in a relatively straightforward manner.
Tacit Knowledge: Knowledge that has not been articulated; often subconscious and relatively difficult to communicate to other people.
The knowledge continuum:
Data (qualitative/quantitative, raw, unprocessed) → analyze → Information (in a form useful to decision makers) → Combine w/ expertise → Knowledge (to make workers more productive and automate systems).
Knowledge Management in Marketing: Marketers are interested in a narrower set of activities that focus on integrating front-and back-office services and delivering information to customer service personnel and decision makers when and where they need it.
How do we take the ever-growing streams of customer data from all sources and fashion them into knowledge that is usable in two key ways?
• To enable human agents to do their work better, faster, and in a way that provides maximum customer satisfaction.
• To create automated system that perform at least as well as the most skilled human agent.
Automation: Replacing manual tasks and processes with computers and computer controlled equipment.
Frank and Sally Mortgage Example:
Template: A document structure into which content can be dropped. Automated messaging software where you input different fields of information, such as: name, date, time, etc.
Work Flow: An automated system that electronically routes documents to the next person in the process. Automatically sends email notification to Frank and Sally, sends out the application to the different departments that need to take an action with the application, etc. If there are further questions about the application (interest rate)—there can be a live chat function.
Collaborative: Working together; often refers to software that supports people working together over time and distance.
According to data retrieved from CRM, key concepts while doing transactions on the net include:
• Tailoring products to customers’ needs.
• Providing a personal contact.
• Anticipating customers’ needs
• Making customers feel appreciated.
PROTOCOLS:
• Protocol: Detailed set of guidelines for using knowledge from several sources to provide the products, services, and support customers need. (A set of rules that govern the sending and receiving of data).
• Policies: (Being used in the strategy sense): How the enterprise intends to treat a specific group of stakeholders, in this case customers.
• Back-end: the internal, non-customer-facing systems of the enterprise.
• Business process: Each process must have “customers,” either internal or external. Processes are usually cross function (marketing and accounting) or organizational (manufacturer and supplier)
o Developing a new product
o Ordering good from a supplier
o Creating a marketing plan
o Processing and paying an insurance claim
o Writing a proposal for a government contract
Customer profile: In marketing, and marketing research, a description of a person or segment. The data are in ranges in typical marketing research style.
Explicit knowledge exists in written form in policy manuals, training materials, handbooks and guides, product specification sheets, price lists, and other corporate material. The steps are first to locate all relevant material and then to incorporate it in the correct format into the systems. Web padr or a template would be built to display product information.
Intranet: an enterprise Web site that serves the needs of employees.
Query: In information systems, requestion information for a database.
• Structured Question: In marketing research, a question that can be answered by choosing one of the prespecified set of responses. Very straight-forward.
• Semi-structured Question: Parts of the question are not defined.
• Unstructured Question: the question is not specific at all.
Queue: A line of objects or people. Sending the information to the right people at the right time to be analyzed, or worked on.