Results of Recent Study Indicates Impressive Knowledge Management Growth Despite Soft Economy.
NEW YORK--(BUSINESS WIRE)--April 13, 2001
Influential Industry Leaders Team Up to Report the
State of Knowledge Management Industry in 2001
Knowledge Management magazine today announced that the May issue will feature a top-level overview of an industry-wide study co-produced with respected research firm International Data Corporation (IDC). The study reveals that companies are increasing their expenditures to manage knowledge better, reflecting their determination to use knowledge management strategies and processes to retain key talent, improve customer service and increase revenues and profits.
Knowledge Management magazine and IDC conducted an extensive electronic survey among key corporate decision makers that focused on current and future knowledge management (KM) initiatives. Knowledge Management magazine will summarize the study's findings in the May issue, centering on the three main areas of interest for its 100,000 subscribers.
Based on the Knowledge Management magazine /IDC survey findings, an organization's main implementation challenge stems from the absence of a "sharing" culture in the organization and employees' lack of understanding of what knowledge management is and what benefits it offers. To address these challenges, companies must make training, change management and process redesign primary components of their KM initiatives.
"With this information-laden study, we are able to give our audience an in-depth look at the industry's drivers and leadership, long term initiatives and KM expenditures," says Knowledge Management magazine Editor-In-Chief Alan S. Kay. "The survey responses regarding expenditures confirm that knowledge management is migrating from a discrete undertaking to a strategic component of business solutions."
"Despite -- or perhaps because of -- the state of the economy, the knowledge management market will experience impressive growth as more companies begin to develop and implement knowledge management programs," stated Greg Dyer, senior analyst for knowledge management services at IDC. "The intent of the survey was to gain a thorough understanding of KM use at companies that have an identified interest in KM or that have already begun KM projects. Based on Knowledge Management magazine and IDC's 'State of Knowledge Management' survey, we find that deploying knowledge management solutions is not only a priority for many large companies, but also being considered by smaller organizations."
Knowledge Management magazine and IDC developed the survey questions, which are posted at http://www.destinationKM.com. Visitors are directed to a Web pop-up window and through targeted outreach campaigns to enterprise executives.
Data was supplied by a total of 566 individuals, 28 percent of whom are employed at companies with 10,000 or more employees, while 40 percent are from companies having 500 or fewer employees. As such, they represent a cross-section of the market. In a similar study conducted a year ago, only 7 percent came from companies with 500 or fewer employees. The segment increase reflects the growing interest in KM across markets. The full study may be purchased through IDC. For more information, go to http://www.idc.com or call 508/872-8200.
About Knowledge Management Magazine
Knowledge Management magazine reaches more than 100,000 senior level executives, delivering key information on the technologies, applications and management strategies for achieving an integrated knowledge based organization. Knowledge Management magazine is a property of Freedom Technology Media Group (FTMG), a wholly owned subsidiary of Freedom Communications, one of today's leading private media companies. Freedom Communications, headquartered in Irvine, Calif., publishes 27 daily newspapers, 15 magazine titles and operates 8 broadcast television stations along with more than 50 affiliated Internet sites.