IRM and Knowledge Management:
Organizational knowledge is considered as an asset that can be used in formulating corporate strategies and making important decisions. Knowledge is the combination of information and experience. As an asset, it has to be updated, disseminated, and applied to various organizational problems. To do this, knowledge has to be stored in inventories called knowledge repositories. The knowledge has to be continuously stored and updated. These processes are part of knowledge management. Knowledge management in an organizational context also involves sharing of information. Therefore, knowledge management can be defined as the process of creation, retention, updation, dissemination, and exploitation of knowledge.
Once information is collected, it has to be transformed into knowledge. This requires analysis of information and human intervention in terms of experience. Therefore, it can be concluded that information is part of knowledge. Further, information is derived from data (facts) and data can either be structured or unstructured. Structured data, which is well organized and systematic, can be found in reports, databases, data files, etc. while unstructured data, which is subjective and unorganized in nature, is found in e-mail systems, images, drawings, video clips, the Web, etc. Knowledge management systems are used to link both the structured and unstructured data. For example, structured data in the database can be supplemented with unstructured data available on the Web. A company's website can be potential source of unstructured information where it solicits feedback from customer and suppliers (stakeholders). The management can use this data in addition to the data available in the internal database to solve specific problems and situations.
From this discussion, it can be understood that though IRM and knowledge management are similar in terms of process, knowledge management encompasses IRM in terms of scope. In every organization, IRM is treated as a platform for carrying out knowledge management efforts. Information when used in combination with human experience, results in knowledge. This knowledge when documented, results in information. Again this information used with the user's experience becomes knowledge. Thus, it is a continuous cycle of transforming information into knowledge and knowledge into information.
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