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CRM magazine Best Practices Series: Finally Acknowledging Knowledge Management


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									2   November 2008

    CRM magazine Best Practices Series:
    Finally Acknowledging
    Knowledge Management
    Knowledge management (KM) is one of those            to knowledge management. These leading
    strategic business processes that definitely         vendors have achieved real-world benefits by
    improved with age. I was involved with Knowledge     aligning demand forecasts with inventory control
    Management magazine back in the late 1990s—          and supply chain management, and by applying
    around the same time that CRM magazine was           best practices to augment your marketing or
    really taking off. Unfortunately, Knowledge          product-introduction efforts—all using KM to
    Management (the magazine) never really got to        guide the process. None of this was even
    enjoy the supersonic growth that sent CRM into
                                                         possible just a few short years ago.
    the stratosphere during the dot-com days.
                                                         As a devotee of customer relationship
    KM’s main problem back then? Companies found
                                                         management, I’m particularly impressed with the
    themselves struggling to quantify the return on
    any investment in a KM initiative. And there were    natural engagement KM 2.0 solutions foster with
    other concerns. For one, KM had yet to escape its    customers at a deeply personal level.
    tweedy, document-management–era reputation           Astonishingly quick adoption rates and amazingly
    as a “repository of documents” technology. (Not      deep customer engagement are the drivers that
    much help in generating buzz or hype.) As if a       have turned KM into a business strategy with
    branding image wasn’t enough to deal with, think     immediate impact on contact centers, Web self-
    back to the state of enterp
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