A knowledge base may be referred to as a dynamic resource that allows the updating and sharing of expertise and information. Artificial intelligence (AI) or expert systems can retrieve information from a knowledge base in the form of software where as human retrieval systems need documents in text format.
Knowledge base is defined as, “The part of an expert system that contains the facts and rules needed to solve problems.” It has become an integral part of businesses today.
A well constructed knowledge base software can manage all the information related to a business, its employees and its customers. It has been used as a cost cutting tool since a central repository of information that can be easily accessed means that employees need not spend a lot of time with customers directly. The customers in turn are benefitedd by being able to find all the information in one central location instead of depending on customer support personnel and their work timings.
Generally, knowledge can be accessedd at three stages of a business transaction:
1. before
2. during
3. after
Organization have tried various knowledge base activities as it tends to be more essential now a days. Most big MNCs are opting for good knowledge base software because they can share the information with their staff members freely whether they are present in one or a hundred locations around the globe.
There are plenty of software applications available in the market to manage the finances of a company. But knowledge base software is a great tool to answer customer queries; also simple and easy to use. They allow users to access data in a proper workflow. Several software applications are available to create their own knowledge base software either separately or in combination with other applications.
This is usedd to enhance the organizational knowledge through healthy practices of organizational learning and information management. The main purpose is to transfer a value to the business. A number of factors induce how important KB Software is in running big enterprises:
Business markets and the rate of innovation are competitively increasing.
Competitive pressure that holds useful business knowledge will drastically reduce the size of the work.
Usage of knowledge base software in businesses will lead to a reduction in the amount of staffing and time in the big companies.
Work force leads to loss of knowledge because of increasing mobility and early retirements.
Alteration in strategic direction which may lead to loss of knowledge in a unique area.
These factors will show how KB Software will become essential for a successful company while combining both knowledge and business. This will not cause any major problem for big companies. Small business management needs conventional approaches even more. Because small companies don’t have resources and market influence where the big companies do. They should take more effective decisions; even small mistakes in small enterprises can be fatal to their own business.
This software helps to increase the conversion rate and lower the cost by providing cost effective technical support. Here the main objective is to provide the professional and efficient way of customer service.