Until now, business systems have focused on selected data within a certain context to produce information. A better approach, says Thierauf, is to take information accompanied by experience over time to generate knowledge. He demonstrates that knowledge management systems can be used as a source of power to outmaneuver business competitors. Knowledge discovery tools enable decision makers to extract the patterns, trends, and correlations that underlie the inner (and inter-) workings of a company. His book is the first comprehensive text to define this important new direction in computer technology and will be essential reading for MIS practitioners, systems analysts, and academics researching and teaching the theory and applications of knowledge management systems.Thierauf centers on leveraging a company's knowledge capital. Indeed, knowledge is power—the power to improve customer satisfaction, marketing and production methods, financial operations, and other functions. Thierauf shows how knowledge, when developed and renewed, can be applied to a company's functional areas and provide an important competitive advantage. By utilizing some form of internal and external computer networks and providing some type of knowledge discovery software that encapsulates usable knowledge, Thierauf shows how to create an infrastructure to capture knowledge, store it, improve it, clarify it, and disseminate it throughout the organization, then how to use it regularly. His book demonstrates clearly how knowledge management systems focus on making knowledge available to company employees in the right format, at the right time, and in the right place. The result is inevitably a higher order of intelligence in decision making, more so now than could ever have been possible in even the most recent past.
