We collect data every day but it can’t be considered information until we apply a context to it. The data needs to be organized and presented in a way that allows us to draw conclusions from it. Knowledge is created when the information is processed by the right people who bring their perspective and experience to the information.
In short, in order to manage knowledge you need to get the right information to the right people at the right time. You need to use tools that help you to organize information.
Unstructured data (information that lies outside of databases where business intelligence is usually stored) represents the largest, most current and fastest growing source of information available to businesses and governments worldwide.
Unstructured data – such as content on social media or Internet content - is growing at double the rate of structured data (information stored in databases where a structured query language can access it).
HP believes that 95% of valuable data resides in unstructured formats. Integrating unstructured data with structured data to create information and in turn knowledge is a huge challenge for enterprises.
The sources of data are growing every day. A typical office worker uses data coming from centrally controlled document repositories together with unstructured data coming through websites, emails, blogs, twitter feeds etc.
The data required to make decisions is scattered across multiple devices. Smart phones containing photos, text, videos, instant messages and contacts are combined with documents on home computers and emails on work laptops to create the overall view.
Even on the same computer the data is scattered across multiple folders, on the desktop and in cloud based storage.
Each person working on a project can obtain and value different pieces of data. The information from all of the people on the project has to be integrated together.
All of this data needs to be pulled together, organized and presented as information.
This information presented to the right audience at the right time can lead to knowledge that could be critical for analyzing and solving problems, detecting threats, realizing important trends and relationships, creating new opportunities or preventing disasters.