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Optimal Knowledge Management - Wisdom Management Systems Concepts and Applications
As will be seen in the text, knowledge management provides a basic framework for business intelligence systems and optimization as found in smart business systems. In turn, both business intelligence and optimization help decision makers make better decisions. In addition, knowledge management is related to wisdom management in that wisdom is the umbrella that brings together not only knowledge in the form of business intelligence and optimization, but also provides the means to assist decision makers in reaching optimal and wise decisions over time.
From this view, a new type of systems, that is, optimal KM/WM systems, can be defined. Such systems are forward looking by utilizing creativity and problem finding to the highest degree possible. They utilize the latest new business models that are integrated with e-commerce and the Internet. Overall, optimal KM/WM systems draw upon the basic concepts found in knowledge management, business intelligence, and optimization. As noted earlier, these newer type systems provide a company’s decision makers with the ability to connect “points of wisdom” so that optimal decisions regarding forthcoming opportunities and upcoming problems can be reached today and into the future.
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