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Data, Information, and Organizational knowledge

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Please explain how data, information and knowledge are related to the concept of knowledge management (KM)? How are they different (please define each one: data, information, knowledge and KM)? What are the potential benefits of knowledge management projects? What strategies should companies follow to achieve positive results in KM projects?

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This 1000 word solution discusses the relations and distinctions between data, information, knowledge, and knowledge management.

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Data Information and Organization Knowledge

Data, information and knowledge are related to the concept of knowledge management in one way or the other. For a clearer understanding of the relationship existing between information and knowledge, where the information resides has to be known. Information is generated from different situations and activities. Information however resides in storage media in data form or in the human mind as knowledge. The storage media can either be in video tapes, a database, or in print, along with other media (Tseng, & Fan 2011). The relationship between data and information and knowledge is therefore considered to be obvious, that is, they occupy different space at different times; this is the reason why data and information are usually perceived interchangeably at most times. Data information and knowledge are related to the concept of knowledge management in that knowledge is normally externally verbalized to information which is later stored in the form of data. The stored data is processed and analyzed back to information which is later internalized to knowledge which constitutes the process of knowledge management (Tseng, & Fan 2011).

Data, information, knowledge and knowledge management are different in that data is information which has been translated into a convenient form that can be moved or processed; knowledge, on the other hand, is an insight, an understanding, and a know-how which every individual possesses. It is considered a fundamental resource which allows individuals to function intelligently. Information is the processed and analyzed form of data while knowledge management is the management ...

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