1. Data management is a critical success factor for organizations but presents several difficulties including an exponentially increasing amount of data from multiple sources, with only a small portion being useful for specific decisions. Effective data management requires collecting, storing, processing, analyzing, and presenting data to facilitate decision making.
2. Knowledge management systems aim to organize relevant information and best practices into accessible databases in order to support organizational learning and improve performance. For example, Accenture developed a global knowledge base containing case studies, tools, and expertise from various engagements.
3. Effective data and knowledge management requires addressing issues such as data quality, storage, security, privacy, and legacy systems while utilizing techniques including data warehousing, mining, visualization