Knowledge Management Growth Opportunities

Improving Knowledge Management as a Top Business Priority to Unlock Future Growth Potential

Knowledge management (KM) is a mature technology applicable to all businesses and used in every type of enterprise and industry vertical. Though KM initially meant content management, it now enables the creation, publication, and management of data and information from an infinite number of sources, such as documents, video, databases, call logs, speech and text analytics, customer and partner communities, website activity, search engines, interactive voice response (IVR) systems, and people.

KM is the key to managing contact center transformation initiatives, such as implementing new operating models, supporting remote or hybrid working, and empowering customers with self-service tools. For instance, a contact center requires AI-based KM that leverages ML, NLP, and semantic search that identifies keywords and provides contact center agents with relevant information at the right time and helps them handle customer concerns effectively. A KM backed by AI also empowers customers to leverage self-service and ensures greater customer satisfaction.

Frost & Sullivan examines the importance of a solid KM strategy and the benefits it can bring to an organization looking to elevate customer care and employee experiences. The study analyzes the greatest areas of KM impact, recent developments, top trends, growth drivers and restraints, and growth opportunities for market participants. The analysis also addresses challenges and benefits related to making a KM investment successful and recommends KM strategies for companies. Solution provider profiles and use cases for each of the core areas of KM are included.