BSBINS601

Manage knowledge and information

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Topic 1: Collecting business information

BSBINS601 Manage knowledge and information Campbell Institute

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For the first topic we will be looking at the activities relating to collecting
relevant business information for information and knowledge
management.

Topic 1: Collecting business information

Topic 1: Insert topic title
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INFORMATION AND KNOWLEDGE MANAGEMENT SYSTEMS

• Information management is about managing an organisation's
information resources to improve the performance of the organisation.
• Knowledge management is about the processes of acquiring,
capturing, creating, sharing and using knowledge to enable learning in
organisations.

Topic 1: Collecting business information

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INFORMATION MANAGEMENT SYSTEMS (IMS)

An information management system facilitates the collection, storage,
organisation, management and retrieval of data. It is used to improve the
efficiency of process, compliance, regulations as well as providing
technology solutions.

Topic 1: Collecting business information

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KNOWLEDGE MANAGEMENT SYSTEMS (KMS)

A knowledge management system supports information and knowledge
sharing, collaboration through the creation, organisation and
management of information.

Topic 1: Collecting business information

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ACTIVITY: READ
Read the following overview of knowledge management:
https://www.cleverism.com/how-to-implement-knowledge-management-system/
Read the following information on information management vs knowledge
management:
https://www.knowledge-management-tools.net/IM_vs_KM.php

Topic 1: Collecting business information

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ACTIVITY: WATCH
Watch this video, which identifies the importance of knowledge management in an
organisation.
Video: https://www.youtube.com/watch?v=k3jo7oWzUUc&feature=youtu.be (04:47)
Watch this video to see an example of a new emerging digital Xerox’s new knowledge
management system.
Video: https://youtu.be/r69NvOT6xtQ (02:40)

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ACTIVITY: RESEARCH
Divide into pairs for this activity. You work for a research department at a university.
You have been asked to research one existing and one emerging technology currently
used for knowledge and information management. The department would like to share
collected research information with the university’s other research departments at
different campuses across the state.

Topic 1: Collecting business information

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REVIEWING FEEDBACK AND PERFORMANCE DATA

Before you can develop information and data systems to support decision
making and make the most of knowledge and learning throughout an
organisation, you need to collect relevant business information.

Topic 1: Collecting business information

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ACTIVITY: READ
Read the following article on types of performance data:
http://www.zeromillion.com/business/6-types-of-performance-data/
Take any notes to summarise what you have read and keep for future reference.

Topic 1: Collecting business information

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ANALYSING BUSINESS ISSUES

When analysing problems or issues, an organisation may be looking at
different areas such as overspending in a certain department, reducing
waste, under performance of employees, customer service or quality of
services and products delivered.

Topic 1: Collecting business information

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ACTIVITY: WATCH
Watch to find out more on the Pareto Principle.
Video: https://www.investopedia.com/terms/1/80-20-rule.asp (02:23)
Write down your key takeaways.

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ACTIVITY: READ
The following article explains why an organisation should review their business
performance:
https://m.infoentrepreneurs.org/en/guides/review-your-business-performance/
Take any notes to summarise what you have read and keep for future reference.

Topic 1: Collecting business information

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INFORMATION NEEDED TO REACH DECISIONS

Decisions for the best options will need to be made and this may require
looking at different factors such as:
• Associated costs or budgets
• Technical factors such as hardware or software equipment and training
• Human resources needed
• Any risks.

Topic 1: Collecting business information

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SOURCING AND COLLECTING INFORMATION

• The information required to reach a decision on any problems or issues
should be relevant and reliable.
• Information can be either from external or internal sources.

Topic 1: Collecting business information

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ACTIVITY: READ
Qualitative data:
https://cirt.gcu.edu/research/developmentresources/research_ready/qualitative/validity

Quantitative data:
https://cirt.gcu.edu/research/developmentresources/research_ready/quantresearch/key
issues

Why quantitative and qualitative data is important:

http://www.abs.gov.au/websitedbs/a3121120.nsf/home/statistical+language+-+quantitat
ive+and+qualitative+data

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CHECKING THE QUALITY OF INFORMATION

• The next step in the collection of relevant and reliable information is to
confirm that it is in fact reliable and valid.
• Any information that does not meet this criteria or is contradictory or
ambiguous should be rejected, so that the information is of quality.

Topic 1: Collecting business information

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ACTIVITY: READ
Read more on data analysis validity and reliability:
Tutorial:
http://etutorials.org/Misc/data+quality/Part+I+Understanding+Data+Accuracy/Chapter+
2+Definition+of+Accurate+Data/2.3+Data+Accuracy+Defined/

Article: http://learntech.uwe.ac.uk/da/Default.aspx?pageid=1429
Take any notes to summarise what you have read and keep for future reference.

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ACTIVITY: DISCUSS
Reflect on online forms that you may have completed to register or apply for jobs,
apps, clubs or web services. What do you think is used to ensure the quality of data?
Consider the structure of the form, the database running the back end and validation.
Your trainer/assessor will facilitate a discussion.

Topic 1: Collecting business information

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ACTIVITY: READ
Quality of a database:
http://www.computerbusinessresearch.com/Home/database/five-characteristics-of-high
-quality-information

Quality of data collection

https://ori.hhs.gov/education/products/n_illinois_u/datamanagement/dctopic.html

Topic 1: Collecting business information

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CONSULTING WITH STAKEHOLDERS

• By consulting with relevant stakeholders, you can collect further
relevant knowledge that may not be formally captured.
• Stakeholders may be anyone using the system, managing or
controlling information and knowledge in and out of the system, key
decision makers or admin and security workers.

Topic 1: Collecting business information

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ACTIVITY: READ
Read the following article on corporate knowledge:
http://www.aiai.ed.ac.uk/~alm/kam.html
Read the following article on the effect of corporate knowledge loss:
https://www.thecompetencygroup.com/blog/the-effect-of-corporate-knowledge-loss/

Topic 1: Collecting business information

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ACTIVITY: DISCUSS
Write a small survey to collect information from university lecturers to find out
information on the standard of behaviour and commitment of students for their current
cohort so that this can be compared for the following year.

Topic 1: Collecting business information

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ACTIVITY: REPORT
Research the internal and external information sources that could be used in collecting
knowledge and information for an organisation that relates to implementing
sustainability practices in work processes.

Topic 1: Collecting business information

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Topic 2: Analysing information and knowledge

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OBJECTIVES FOR ANALYSIS

• To analyse information, you must create clear, relevant and consistent
objectives, according to any organisational requirements.
• A knowledge management strategy describes how an organisation
manages information and knowledge to benefit the organisation and
stakeholders.

Topic 2: Analysing information and knowledge

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ACTIVITY: PRACTICAL
Review the information at the following link to complete the activity:
https://www.smartsheet.com/blog/essential-guide-writing-smart-goals
Your trainer/assessor will facilitate a discussion so that you can provide feedback on
how you completed the task.

Topic 2: Analysing information and knowledge

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PATTERNS AND EMERGING TRENDS

Part of analysing information and knowledge will be to identify and
interpret any patterns or emerging trends.

Topic 2: Analysing information and knowledge

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ACTIVITY: PRACTICAL
Spreadsheet functions can be used to analyse patterns and trends. Use the following
link for a range of activities that can be completed:
https://www.thinkreliability.com/root-cause-analysis-tools/cause-mapping-template/
Save the activities that you complete.

Topic 2: Analysing information and knowledge

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STATISTICAL ANALYSIS
• Correlation calculations
• Short To Medium-Term Term and Long-Term Trend Analyses
• Probability Assessment
• Dynamic Programming
• Linear Programming
• Queuing Theory
• Simulation

Topic 2: Analysing information and knowledge

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ACTIVITY: TUTORIALS
Undertake the tutorials to support your learning of statistical analysis.

Topic 2: Analysing information and knowledge

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ACTIVITY: READ
The Australian Bureau of Statistics (ABS) provides a number of statistics in industry
that can be used by organisations to help with decision making:
https://www.abs.gov.au/Business-Indicators

Topic 2: Analysing information and knowledge

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SENSITIVITY ANALYSIS
• Applying statistical analysis, sensitivity analysis and other techniques
are very useful to draw conclusions relevant to decisions.
• A sensitivity analysis is used to assess how different values of an
independent variable affect a particular dependent variable under a
given set of assumptions.

Topic 2: Analysing information and knowledge

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ACTIVITY: READ
Review the case studies at the following link for examples of sensitivity analysis:
https://www.investopedia.com/terms/s/sensitivityanalysis.asp
https://corporatefinanceinstitute.com/resources/knowledge/modeling/what-is-sensitivity
-analysis/

Your trainer/assessor will facilitate the activity.

Topic 2: Analysing information and knowledge

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ACTIVITY: WATCH
Watch the following video on sensitivity analysis (Business forecasting).
Video: https://www.youtube.com/watch?v=56-iiZEjqnU (07:52)
Write down your key takeaways.

Topic 2: Analysing information and knowledge

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DOCUMENTATION
Documentation of analysis should be recorded, structured and presented
in a readable format that shows a logical approach to the evaluation of
evidence and any conclusions drawn.

Topic 2: Analysing information and knowledge

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ACTIVITY: READ
Read the following article on documenting analysis in reports:
https://www.examples.com/business/write-an-evaluation-report.html
Take any notes to summarise what you have read and keep for future reference.

Topic 2: Analysing information and knowledge

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MAKING ADJUSTMENTS
Mostly the objective of an information and knowledge management
decision support system is to ensure the right information is delivered to
the right people or place at the right time to support informed decision
making.

Topic 2: Analysing information and knowledge

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Topic 3: Rectifications for business issues

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In this topic we will be following the steps used to decide upon

rectification for business issues.

Topic 3: Rectifications for business issues

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USING INFORMATION TO SUPPORT DECISIONS

• If there isn’t sufficient, valid and reliable information or evidence to
support a decision then the information system is failing.
• The type of decisions that a manager or management may need to
make could be complex, high risk or involve multiple stakeholders.

Topic 3: Rectifications for business issues

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ACTIVITY: READ
Read the article on using executive support systems to make effective decisions:
https://www.mbaskool.com/business-concepts/it-and-systems/7251-executive-support-
system-ess.html

Take any notes to summarise what you have read and keep for future reference.

Topic 3: Rectifications for business issues

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RISK MANAGEMENT
Risk management involves a series of basic steps. Establishing and
following a risk management plan can protect a business from potentially
serious or catastrophic outcomes.

Topic 3: Rectifications for business issues

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ACTIVITY: READ
Risk management plans:
https://www.business.gov.au/risk-management/risk-assessment-and-planning/risk-man
agement-plans

Take any notes to summarise what you have read and keep for future reference.

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ACTIVITY: WATCH
Watch the following video on risk management.
Video: https://www.youtube.com/watch?v=XbkMX0ASgj4 (08:41)
Write down your key takeaways.

Topic 3: Rectifications for business issues

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USING QUANTITATIVE METHODS TO ASSIST DECISION

MAKING
Quantitative methods to assist decision making can be specific
techniques that are based on scientific and statistical approaches.

Topic 3: Rectifications for business issues

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ACTIVITY: READ
The following article explains decision trees:
https://www.geeksforgeeks.org/decision-tree/
Read through the information about decision trees and follow the examples:
https://www.smartdraw.com/decision-tree/

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CONSULTING SPECIALISTS AND STAKEHOLDERS

The management of knowledge and information is a broad area and can
include skills and competency over a number of functions and expertise
such as technology and business processes.

Topic 3: Rectifications for business issues

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ACTIVITY: GROUP WORK

In your group write down all your skills and competencies that relate to working with
information systems and processes.

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ACCOUNTABILITY, CONSISTENCY AND TIMELINESS OF

DECISIONS
A knowledge management strategy can support the management of
knowledge and information through organisational objectives, values,
standards, guidelines, procedures and roles and responsibilities.

Topic 3: Rectifications for business issues

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ACTIVITY: READ
Read the following article on making good and timely decisions:
https://josephnoone.com/2010/05/23/making-good-and-timely-decisions-4-key-principl
es/

Take any notes to summarise what you have read and keep for future reference.

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Topic 4: Distributing information

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DOCUMENTING INFORMATION REQUIREMENTS

• Any information requirements for the development of information and
data systems should be clearly documented.
• This provides a record of what is required as well as documentation
that guides the process; according to roles, responsibilities in the right
format and at the right time.

Topic 4: Distributing information

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DOCUMENTING INFORMATION AND UPDATING DATABASES

Knowledge and information that is stored by an organisation in systems
should be maintained on a regular basis. This ensures the quality of
information that the system produces.

Topic 4: Distributing information

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ACTIVITY: REPORT
Research a system that could be used for the college. You can base your research on
any community college in Australia: https://cca.edu.au
Your report should be between 1–2 pages long and be written in clear and concise
English.
Submit your report to your assessor trainer/assessor for feedback.

Topic 4: Distributing information

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DESIGN AND TEST SYSTEMS

The systems development lifecycle (SDLC) is a methodology used for
designing and developing information systems such as information and
knowledge management systems or decision support systems.

Topic 4: Distributing information

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ACTIVITY: READ
Read the following case study on the design and implementation of knowledge
management systems:
http://www.community-of-knowledge.de/beitrag/design-the-implementation-of-knowledg
e-management-system/

Read the following article on testing decision support systems:

https://www.knowledge-management-tools.net/decision-support-systems.php

Topic 4: Distributing information

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ENSURING INFORMATION IS OF QUALITY

The information and knowledge systems must be kept up-to-date, remain
accurate and relevant and produce timely and sufficient information that is
able to be used effectively by the relevant stakeholders (key decision
makers/the users of the system).

Topic 4: Distributing information

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ACTIVITY: READ
The importance of keeping data up-to-date:
https://socialnomics.net/2015/06/16/the-importance-of-keeping-your-data-up-to-date/
Take any notes to summarise what you have read and keep for future reference.

Topic 4: Distributing information

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COMMUNICATION PLANS
Communication plans help to ensure that all stakeholders are provided
with the right information at the right time and defines how and when
information is communicated, along with the communication channels to
be used.

Topic 4: Distributing information

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ACTIVITY: READ
Read the following article on developing a plan for communication:
https://ctb.ku.edu/en/table-of-contents/participation/promoting-interest/communication-
plan/main

Take any notes to summarise what you have read and keep for future reference.

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ACTIVITY: READ
Watch the following on the communication planning process.
Video: https://www.youtube.com/watch?v=Sdqk76dMvHI (05:03)
Write down your key takeaways.

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MAINTAINING KNOWLEDGE AND SECURITY OF INFORMATION

If there are two things that you need to ensure, one is that the knowledge
is maintained to ensure the effectiveness of the system and secondly that
it remains secure.

Topic 4: Distributing information

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MAINTENANCE
Knowledge may need to be updated, changed, checked, re-arranged or
tested to keep it relevant, accurate and remain of quality.

Topic 4: Distributing information

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SECURITY
Keeping data, information and knowledge secure means that an
organisation is protecting its commodity from unwanted attacks,
unauthorised access and use, disclosure of information, modification or
destruction and privacy and confidentiality of client data.

Topic 4: Distributing information

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ACTIVITY: READ
Read through the articles provided.

Topic 4: Distributing information

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ACTIVITY: WATCH
Watch the following Ted Talk about privacy.
Video: https://www.ted.com/talks/alessandro_acquisti_why_privacy_matters
Watch the following Ted talk about the NSA.
Video:
https://www.ted.com/talks/catherine_crump_the_small_and_surprisingly_dangerous_d
etail_the_police_track_about_you

Take down your key takeaways.

Topic 4: Distributing information

BSBINS601 Manage knowledge and information Campbell Institute