Wednesday, March 23, 2022

Knowledge Management In An Ever-Changing World


“Knowledge is power."

“Work smart”, as illustrated in the picture, working intelligently makes things easier. Wars in history were not only won by brute force, they are beautifully planned and skillfully initiated with the guidance of war strategists. That is how powerful knowledge is.

Knowledge is power but knowledge sharing is empowerment.

Take the illustration above, if he shared his knowledge with the other two, not only they can finish early and with ease, the other two gained new knowledge that could greatly improve their current ways. Also, would gain their trust and respect. In today’s world, who do you think would be more successful, the person who keeps the knowledge to himself or the person who shares their knowledge? Influencers are recognized as one of the most successful people. They are looked upon by others and considered as part of their daily lives.  Besides, there’s nothing more fulfilling than knowing you have created a positive impact and changed people’s lives, right?

Knowledge Management in Organizations

When the world shifted to new normal, good Knowledge Management became vital for our organization’s SOPs. Before, training was conducted in a classroom set up; we were sent to head office in Manila or different branches for refresher courses or promotion training courses. We reached out to our clients through visitations and seminars for our latest advisories. Today, all these are available and done online. We are able to cut costs from transportation, resources, and allowances without sacrificing our career growth and learning opportunities.

The biggest barrier to this will always start with people’s perception to change. Often, we rejected changes in accustomed practices. Organizations can overcome such challenges by creating a culture of knowledge sharing among employees and management.

As the organization faces a fast-changing and challenging future, having a good Knowledge Management system is essential for its survival.

Tuesday, March 8, 2022

Business Intelligence a Competitive Advantage

Change is unpredictable; competition is uncontrollable in every sector of business. Having business intelligence is significant to outperform competitors. But what is Business Intelligence? Business Intelligence refers to the technology that enables businesses to organize and analyze data in the company. Why is Business Intelligence important? Because business intelligence is fast and its data-informed decision-making can drive success to high customer expectations, global competition, and low-profit margin of an organization.

Business intelligence is instrumental in the finance industry. This technology is used by most banking and financial companies to develop new payment services and market offer to customers. It also helps the company detect fraud and protect customers whose card data may be compromised. 

Landbank of the Philippines, a financial institution which is one of the largest banks in the Philippines, a commercial bank, a government-owned bank, and also the biggest lender to farmers and fisher-folk cooperatives, rural banks, and local government units, also using business intelligence in trust of its company’s success. The data from the bank’s operational source system including deposits and loans can make reports available for fast, accurate, and effective decision-making. The research team can rely on this to analyze the clients’ historical transactions and products used for new product development and promotion ideas.

Looking ahead, LANDBANK, with the help of business intelligence, can cope with tighter banking regulations, able to reduce risk, enhance decision support, strengthen its customer relationships, and above all develop a competitive advantage among its competitors.





Source:

Landbank Increases Agility and Competitiveness at Lower Risk with Informatica. (2018). Informatica. Retrieved 08 March 2022 from https://www.informatica.com/content/dam/informatica-com/en/collateral/customer-success-story/landbank_customer-story_2644.pdf

Knowledge Management In An Ever-Changing World

“Knowledge is power." “Work smart”, as illustrated in the picture, working intelligently makes things easier. Wars in history were no...