ABSTRACT
The most important concepts, as well as new approaches involved in knowledge management are presented in a pragmatic and concise way. The Know-Center is Austria's leading research center for data-driven business and big data analytics. This chapter provides the reader with some definitions that are crucial for engaging in an informed discourse on knowledge management, its different types, and their advantages and disadvantages. It examines the spectrum of knowledge, information, and data; and focuses on relevant theories on knowledge management and organizational learning. The chapter explores the relationship between knowledge management and Quality by Design. It reviews the new emerging type of knowledge management: data-driven business. The chapter concludes with several major challenges that need to be tackled in order to bring value to organizations and close with some practical examples on how they can be applied.
