Effectiveness comes down to producing desired results. The most successful entrepreneurs have mastered being effective because it makes them work smarter, eliminating unnecessary effort and wasted time. Success cannot happen with any consistency when approached in a lazy, haphazard, hit-or-miss fashion.
A well-known strategy followed by enterprises of all sizes has been to embrace
outsourcing their business processes letting a third-party entity manage their
business acumen. It is often cost-effective and convenient to outsource some of
the work and has been known to be a great strategy. However, problems start
surfacing when the incoming team realizes the gap in their understanding of tribal
knowledge elements that conveniently escaped the documentation process.
Success of an outsourcing program depends on how well the transfer of
knowledge is executed between the incumbent team and the incoming team.
It is in the best interest of any organization’s success especially when trying to
outsource is to capture as much of the business intelligence as possible,
document it appropriately and enable the transition of information to the new
workforce coming in. It is easier said than done with preserving this valuable
knowledge especially since most of the times these pieces of information are tacit
Organizations have attempted to build an effective knowledge base although the
success rate has been quite low due to lack of sustained focus as business
priorities take over and of course there is difficulty in defining and gathering the
knowledge from various sources in the organization.
Technology is making it possible to build systems that can be used to transition
information to anyone seeking the knowledge and develop insights. Machine
learning and natural language processing techniques enable data collection and
information gathering from various sources and relate them in a meaningful way.
This enables business users gain intelligence insights towards effective decision
making beyond traditional knowledge management solutions.
Sevantiz is an emerging provider of conversational AI based solution that collects
all institutional wisdom and connects the information seeker to the data being
sought. Sevantiz’s FLOCKWISE.AI is built for business to evolve to be more
collaborative in a highly digital workplace, and has been a key part of helping
businesses to survive in the crisis of our lifetimes. To learn more about how
FLOCKWISE.AI can help your business, which of the business functions can take
immediate advantage and gain faster ROI, how the retained tribal knowledge can
increase your intellectual capital, please contact us.
As the baby boomers are retiring, the biggest loss for organizations is the vast
amount of tribal knowledge the employee takes with them.
According to the Pew Research Center, baby boomers reached a peak size of 66
million in the workforce in 1997 — the largest generation of workers ever and by
2017 dwindled to 41 million. Their ages in 2017 ranged from 53 to 71. As the
baby boomers were reducing in number, millennials (those born between 1981-
96) took over as labor force’s largest age group in the middle of this decade and
were estimated to be 56 million in 2017.
It is in the best interest of any organization’s sustainable growth, to capture as
much of this intelligence as possible to ease the transition for the new workforce
coming in, even if these new employees don’t necessarily accept the way things
were done previously. It is easier said than done with managing this valuable
knowledge especially since the older employees may not like writing the
information they have gathered over the years while the younger and newer
employees have been exposed to the latest technologies and do not want to be
manually reading pages and pages of documentation. The same is true with
customers seeking to know specifics on a product or a service or any information
from an organization. Technology is making it possible for knowledge
management to transition from the traditional paper-based documents to digital
information that is easily accessible and searchable. Collecting data and applying
machine learning or natural language processing to analyze it for patterns and
providing the results in a more meaningful way is the direction in which
knowledge management is going.
Sevantiz is a leading provider of conversational AI based solution that collects all
institutional wisdom and connects the information seeker to the data being
sought. The Flockwise platform from Sevantiz uses an Artificial Intelligence based
engine along with Machine Learning and Natural Language Processing capabilities
to power the Knowledge engine to process data coming in the form of structured,
semi structured and unstructured data providing intelligent results to the
information seeker and the organization.
You might have heard about IoT before and how it will transform every major industry – from retail to connected vehicles. However, one of the key areas where IoT is set to make a strong impact is supply chain. In this article, we are going to discuss the applications of IoT in supply chain management. First, of what is supply chain management. Supply chain management is the management of the flow of goods and services. As we all know, IoT is one of the fastest-growing fields in the world.
When asked why outsourcing is needed, the most common answer is that it’s done to “cut cost.” Though this may be true, there are several other great reasons to do it. Furthermore, the cost savings are not always guaranteed – the devil is in details. In real life, botched outsourcing projects could actually cost you more money, lead to delays and missed opportunities, and be a source of massive headaches. There’s no free lunch: in many ways, successful outsourced projects require many of the same elements as building your own team (communication, organizational knowledge, processes).