People talk and theorize about Return on Knowledge all the time, but what’s the key to making it a reality? Return on Knowledge (ROK) is the latest buzz phrase in the business innovation world. Every day, people walk in and out of your offices with knowledge and perspectives in their heads, on notebooks, on laptops, and the fading memory of just-erased whiteboards. Whilst researchers and analysts are mining great pools of data to find trends and insights, the number one source of knowledge already works for you but is hard to tap into.
In a volatile, unpredictable, complex world, figure out how to not only tap into but connect this knowledge is one of the fundamental challenges of successful leaders and businesses. Ironically, every business organization has this key built right into its core – organizational intelligence rooted in human data! It’s just difficult to connect.
Your Key—Organizational Intelligence
We’ve got to automate this process. We can’t rely on middle-management to feed perspectives and knowledge up the food chain to be consumed weeks late, post-deterioration. With big data getting bigger (euphemism for unmanageably massive), companies are scrambling for ways to make sense of all the data and convert it into actionable knowledge. This actionable knowledge that is gathered from all the big data is just Business Intelligence (BI) until it is connected to your K value:Knowledge. Once your ROK is connected to your BI, you have Organizational Intelligence. And this organizational intelligence is your key to making Return on Knowledge impactful.
Transform how you capture Insight
In order to move away from machine data and truly harness the power of human data, one needs to transform the way organizational insight is captured. Be it a 10-person company or a company of 90,000 employees, there’s a huge amount of insight and knowledge! But to really convert all this amazing insight into intelligence, you need a platform! A platform that lets you ask the right questions, analyzes insights in a concise way, and provides you with actionable input.
Here’s a video of my presentation on Transforming the Way you Discover Organizational Insights at Innovation Enterprise’s Chief Innovation Officer Summit, last October.
Below is the SlideShare of the presentation:
Connect the Dots
In order to reap the benefits of organizational intelligence and realize ROK, you need to go beyond capturing organizational insight. True innovation recognizes patterns by CONNECTING THE DATA. It draws connections between quantitative data with qualitative data. Both you and the software you use, need to work at connected data from various stakeholders and departments. Your big data is a networked asset and its value is determined by its relationships. You need to map organizational intelligence back to people, processes and technology to capture your ROK.
In a nutshell, to go from theory to reality when it comes to you ROK, you need to redefine what you mean by organizational insight to a combination of machine and human data. You need to convert this into organizational intelligence and finally connect the dots. Trust me, unlike a lot of other things that seem harder to do than they sound, this is actually easier to do than it actually sounds.
In the 21st Century, an Information Age, we have to not only collect information but connect it so that it can be sorted and become meaningful. Technology enables us to collect all kinds of new knowledge, but it has to be connected into Organizational Intelligence for us to take what could be overwhelming and transform it into a business that thinks as fast and clearly as a human brain. And that’s Return on Knowledge.
Edwin has authored 9Lenses Insight to Action:A Social Approach to Business Optimization and Snapshot9 What’s Your Picture?:Accelerate Your Business Performance. Click here to download the first chapter of 9Lenses Insight to Action for free!