Knowledge Information
The information creates an awareness of those aspects of
business where the manager is forced to think, decide and act. Such information
shows the trend of the activity or a result against the time scale.
For example, whether the sales are declining and the trend is
likely to continue in the next quarter.
The product is failing continuously on one aspect and the reason of
failure is the process of manufacturing. Such information pin-points the area or
entity and forces the manager to act.
It highlights the deviations from the norm or standard and also any
abnormal developments which are not in congruence with the forecasts or
expectations. Such information gives
rise to business decision, which will affect the process of business
significantly. In some situations the strategic decisions may be necessary to
solve the problem.
The knowledge information may cut across the functional
boundaries of the organization. The action or decision may fall in other
functional areas of business operations, the decision may fall in the domain of
top management or the middle management. Knowledge information is tracked
continuously and reported in a fixed format, for consistency and at fixed
intervals for updating the knowledge base. The nature of this information is
analytical and relates to the past, the current and the future. The knowledge information is reported in
graphic formats for a quick grasp and managerial response. It contains business
results and comparative analysis of the performance.
