5.12. Implementation issues
Integrating KM in an e-business environment will involve several uncertainties that may arise from ambiguous knowledge representation and/or acquisition, incomplete knowledge, false representation and utilization of knowledge, errors in measurement and quantification when obtaining knowledge, and rules conflicts among knowledge bases used to resolve a problem.
In addition, virtual reality is gradually becoming a key issue when integrating KM and EC. A number of types of knowledge exist in different forms and modes, such as image, audio, and video formats. Using these different formats of knowledge has already caused some problems in today's e-business operations. With the anticipated growing popularity of virtual reality, integrating KM and EC will be even more challenging.
6. Future implications
The next generation of KM applications will use business intelligence and e-commerce technology to open up enterprise information portals to hand-held devices. These applications will allow firms to not only collect but also analyze data for use in building more profitable e-business partner relationships, and to increase profitability through revenue growth. We address future implications of KM in terms of: marketing forecasts, and future trends and implications for users, professionals, and the industry.
6.1. Marketing forecasts
In the future marketing will be predominantly one-to-one. For this type of marketing to succeed, companies must determine a customer's value and then that customer's specific needs. A one-to-one e-marketing strategy requires significantly more information about customer behavior and preferences than do other market strategies. Until recently, companies did not capture detailed customer behavior information. New KM and BI applications can address these needs.
6.2. Future trends
Trends that will impact KM in e-commerce are already transforming web-based supply chain management processes. According to Ganeshan [23], they are:
•
Customer and employee self-service: In order to increase customer loyalty and improve customer service, firms are providing tools that enable customers to check product lists, prices, and order and shipping information in real time. In addition, the integration of enterprise applications enables employees to make better decisions. BI and KM technologies facilitate these processes.
•
Vendor managed inventory and automatic replenishment: Vendor managed inventory technologies empower suppliers to manage selected inventories and replenish as needed. This improves customer service and reduces inventory holding costs.
•
Collaborative planning, forecasting, and replenishment: Collaborative planning, forecasting, and replenishment (CPFR) are able to transform B2B e-commerce. CPFR allows business partners to share information over the Internet to leverage benefits to the entire supply chain.
•
The emergence of exchanges: Internet exchanges enabled by KM technologies promise vast benefits, including dramatically reduced costs, greater access to buyers and sellers, improved market place liquidity, and a new array of efficient and flexible transaction methods.
6.3. Future implications for users, professionals, and industry
Innovations in information delivery are creating new functionalities that did not exist until recently, while traditional KM models focused on data analysis. Recent innovations now couple data analysis with data delivery resulting in a structural migration from data access applications to a new generation of proactive business intelligence tools capable of responding quickly and accurately to changing business needs. Knowing how to manage and harness a company's knowledge assets can make or break an e-business initiative. Decision makers should focus on using KM tools to better manage business partner relationships, efficiently integrate internal processes and applications, and collaborate in real time with constituencies.
7. Conclusion
The emergence of interest in KM has increased over the past decade. However, most KM implementations have been based on outdated business models and related information-processing views. In some instances, it is difficult to understand why KM information technology solutions are classified in the realm of KM rather than simply as information or data management. The misconceptions associated with how KM enables e-business have led to misconceptions among some corporate executives about its expected benefits.
A better and more accurate understanding of KM as an enabler of information strategy for e-business is needed. Departing from the information-processing perspective of KM, which was relevant in the past, a new perspective based on blending the capabilities of KM and BI technologies combined with facilitating human creativity has been offered. This will produce the agility required in a dynamic e-business environment. Companies can harness the power of KM to dramatically improve and foster e-business performance by adopting and adapting these strategic approaches.
5.12. Implementation issues
Integrating KM in an e-business environment will involve several uncertainties that may arise from ambiguous knowledge representation and/or acquisition, incomplete knowledge, false representation and utilization of knowledge, errors in measurement and quantification when obtaining knowledge, and rules conflicts among knowledge bases used to resolve a problem.
In addition, virtual reality is gradually becoming a key issue when integrating KM and EC. A number of types of knowledge exist in different forms and modes, such as image, audio, and video formats. Using these different formats of knowledge has already caused some problems in today's e-business operations. With the anticipated growing popularity of virtual reality, integrating KM and EC will be even more challenging.
6. Future implications
The next generation of KM applications will use business intelligence and e-commerce technology to open up enterprise information portals to hand-held devices. These applications will allow firms to not only collect but also analyze data for use in building more profitable e-business partner relationships, and to increase profitability through revenue growth. We address future implications of KM in terms of: marketing forecasts, and future trends and implications for users, professionals, and the industry.
6.1. Marketing forecasts
In the future marketing will be predominantly one-to-one. For this type of marketing to succeed, companies must determine a customer's value and then that customer's specific needs. A one-to-one e-marketing strategy requires significantly more information about customer behavior and preferences than do other market strategies. Until recently, companies did not capture detailed customer behavior information. New KM and BI applications can address these needs.
6.2. Future trends
Trends that will impact KM in e-commerce are already transforming web-based supply chain management processes. According to Ganeshan [23], they are:
•
Customer and employee self-service: In order to increase customer loyalty and improve customer service, firms are providing tools that enable customers to check product lists, prices, and order and shipping information in real time. In addition, the integration of enterprise applications enables employees to make better decisions. BI and KM technologies facilitate these processes.
•
Vendor managed inventory and automatic replenishment: Vendor managed inventory technologies empower suppliers to manage selected inventories and replenish as needed. This improves customer service and reduces inventory holding costs.
•
Collaborative planning, forecasting, and replenishment: Collaborative planning, forecasting, and replenishment (CPFR) are able to transform B2B e-commerce. CPFR allows business partners to share information over the Internet to leverage benefits to the entire supply chain.
•
The emergence of exchanges: Internet exchanges enabled by KM technologies promise vast benefits, including dramatically reduced costs, greater access to buyers and sellers, improved market place liquidity, and a new array of efficient and flexible transaction methods.
6.3. Future implications for users, professionals, and industry
Innovations in information delivery are creating new functionalities that did not exist until recently, while traditional KM models focused on data analysis. Recent innovations now couple data analysis with data delivery resulting in a structural migration from data access applications to a new generation of proactive business intelligence tools capable of responding quickly and accurately to changing business needs. Knowing how to manage and harness a company's knowledge assets can make or break an e-business initiative. Decision makers should focus on using KM tools to better manage business partner relationships, efficiently integrate internal processes and applications, and collaborate in real time with constituencies.
7. Conclusion
The emergence of interest in KM has increased over the past decade. However, most KM implementations have been based on outdated business models and related information-processing views. In some instances, it is difficult to understand why KM information technology solutions are classified in the realm of KM rather than simply as information or data management. The misconceptions associated with how KM enables e-business have led to misconceptions among some corporate executives about its expected benefits.
A better and more accurate understanding of KM as an enabler of information strategy for e-business is needed. Departing from the information-processing perspective of KM, which was relevant in the past, a new perspective based on blending the capabilities of KM and BI technologies combined with facilitating human creativity has been offered. This will produce the agility required in a dynamic e-business environment. Companies can harness the power of KM to dramatically improve and foster e-business performance by adopting and adapting these strategic approaches.
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