Knowledge into their benefit. The best real-life examples

Knowledge is the
core resource of organizations. The successful organizations always focus on
knowledge management and utilizing the knowledge in their benefit. Knowledge
management is the activity of acquiring, using and managing the knowledge and
information of an organization. It is the approach to achieve organizational
goals by making the best use of knowledge.

Knowledge workers
are those employees who possess the skills of acquiring and interpreting
information to perform complex and difficult tasks to help organizations in
acquiring and sustaining a competitive advantage in the market.

With the
advancement of technology, the requirement of having knowledge workers in
businesses has increased significantly during past decade. Knowledge workers
provide ideas, improvement strategies that help organizations in maintaining a
leadership position in industries. They invent new products, develop strategies
and help organizations in keeping ahead of their competitors.

With the growing
use of big data analytics, businesses are acquiring huge set of information and
interpreting it into their benefit. The best real-life examples of the value
information and their use.

Target company used
the big data analytics to identify and target pregnant mothers to send the promotions
on baby diapers and other new born baby items before these women gave birth.
They identified those customers by their purchasing trends. The women which
were buying cotton balls, supplements and washcloths were identified by the
data scientists at target corporation.

Amazon is another
organization that uses big data in their benefit. The online retailer has
access to huge amount of data on its customers; names, addresses, interests,
and search histories. Amazon uses this information in their advertisements
which target customer specifically according to their interests. Amazon also
uses this information to improve their customer relationship. They use the base
data by the clicks per user and the time spent on each page by the user.

Conclusively, the
companies and economies which make the best out of information obtained are
growing rapidly. The knowledge management has become the need of organizations.
This can be achieved by recruiting and supporting knowledge workers in
organizations.