What are the benefits of big data and knowledge management?

Big data technologies enable companies to effectively focus their marketing efforts, increase customer’s lifetime value, and improve productivity. A relatively new concept made possible by increasing computational abilities, big data tools and analytics are quickly becoming invaluable to modern organizations.

Simply put, knowledge management allows companies to deliver critical information to the people who need it, when they need it. Additionally, implementing a knowledge management system can eliminate repeated mistakes, by keeping detailed records of lessons learned (also known as best practices).