What is knowledge management, and why are so many organizations embracing it?
It has emerged as a process to create organizational learning through the management of people, processes and change. With the growing trend of social media and increased collaboration, organizations are applying the concept of knowledge management to product development strategic initiatives and processes.
In the context of product development, it refers to the strategies and practices used by organizations to effectively capture, identify, share and incorporate insights and experiences from all stakeholders, especially customers, into the development process. As defined by ccs.mit.edu, knowledge management is sometimes referred to as “the organizational memory” or the “knowledge transfer process.”
Customer knowledge management: Key factor in new product development process
“The core of the new product development [NPD] process centers on knowledge creation, utilization and the management of knowledge.”
– Abraham B. Shani, James A. Sena
The New Product development Process (NPD) is characterized by a strategic, focused process that involves the brainstorming and creation of innovative ideas and concepts. This process is based on a collaborative effort. It requires several stakeholders including employees, business partners and customers to work together to define and outline requirements for new products or services.
Effective customer knowledge management is a critical component of the NPD process. Tanika Sofianti in: “Customer Knowledge Management in New Product Development”, asserts that effectively managing customer knowledge within the NPD process helps organizations to overcome “issues of customer acceptance associated with innovative products” and “can increase the chances of new product success”. Sofianti also adds that “good customer knowledge management helps to support the creation and retention of long-term customer relationships.”
Superior customer knowledge management with OneDesk
The NPD process is based primarily on knowledge that is used to create products and services that exceed customer expectations and produced in record time. Knowledge therefore has a critical strategic value since it directly contributes to an organization’s overall activities and facilitates the ability to gain competitive advantage. However, to fully take advantage of the collaborative power of insight management a process needs to be in place that allows you to be effectively capture, define and share knowledge— ideas, feedback and suggestions—across employees, customers and business partners. According to Geemultimedia.com, “Through sharing and collaboration, an organization’s efficiency, productivity and profitability is enhanced.
OneDesk is a comprehensive application that integrates customer feedback management, requirements management and project management as well as a range of social collaboration tools that help you easily manage customer knowledge related to new product or service innovation. Our cutting-edge customer portal is a great tool that allows customers to submit their feedback directly to your organization and you to collect it and have it accessible in one place. The portal serves as a repository and knowledge-base for you and the rest of your team to accelerate and improve decision-making and problem-solving.
Effective customer insight management through the customer portal
Want to know more ways supports the creation of stellar products and services? Sign up for a free account today.