Knowledge sharing is a smart, holistic way to share information across your entire organization. But it’s a big initiative that requires funding in the long-term. How can you prove the value of knowledge management to the people holding the purse strings?
Qualitatively, you already know that knowledge management adds expertise and context behind your team’s information, streamlining processes and saving lots of time.
But just because you _know _knowledge management is valuable doesn’t _prove _it’s valuable. Knowledge management metrics are the only sure-fire way to track your performance and prove the tool’s value over time.
While it may sound tricky to track metrics on something as nebulous as knowledge sharing, Elium’s Analytics can do just that. We can help you make the most of your knowledge sharing platform, monitoring your performance at every step.
Every business has different needs, so choose knowledge management metrics that are most important to your goals. Done right, you can use these metrics to predict and improve performance over time.
Take a look at how to measure the effectiveness of your knowledge with three key metrics.
Usage rate metrics look at how users interact with your knowledge management solution. You might use metrics like:
If you need insight into your usage rates, Elium Analytics gives administrators a sky-high view of users’ activity and engagement. See the impact of everyone’s contributions, social interactions between users, and more.
Time is the most valuable commodity in the world. Since many businesses use knowledge management platforms to save time, it makes sense that you would want to measure the time spent and saved through your platform. You can track knowledge sharing metrics like:
Elium Analytics lets you see how much time each team member spends on the platform. It even measures how frequently your system sends notifications (and if those notifications were actually effective), helping you optimize the time users spend on the platform.
Quality sounds like a subjective metric, but with a framework in place, you can use Elium Analytics to measure the quality of the knowledge in your system. After all, what good is a knowledge management platform if the knowledge isn’t useful?
Start with hard data. Use Analytics to drill down on each piece of content with metrics like:
From there, you’ll need to qualitatively assess the piece of content based on:
Make it a point to monitor your knowledge quality over time. If there’s a slip in quality, you can quickly retrain the team to maintain the integrity of your information.
Metrics shine a spotlight on what’s working and which areas need improvement. They’re also essential to securing buy-in for knowledge management in the long run.
Hard data is the only way to know if your program is really working, but it’s not always easy to track that data. Tap into Elium Analytics to prove the value of your knowledge sharing platform, improve business outcomes, and boost employee performance.
Want to take Elium for a test drive? Sign up for a free trial now and check out our latest Analytics features.