Current market environment is based on information and on the ability for managing information appropriately. The reason is that information and well managed data get transformed into the main element that determines the corporate success: knowledge. Knowledge Management is the collection of practices, technologies, perspectives, used today for extracting knowledge from information. Thus, it is “the explicit and systematic management of vital knowledge and its associated processes of creating, gathering, organizing, diffusion, use and exploitation, in pursuit of organizational objectives” (Jashapara, 2011).
Knowledge management includes using data analysis technologies, but it also includes human involvement, from where the technology is managed and focused for it to bring the best results for the particular processes in each organization. This means that knowledge management is an interdisciplinary field that grows from different approaches.
One of the most widely used ways for corporate knowledge generation and management is data mining: “data mining or knowledge discovery process is similar, including an iterative progression of data cleaning, data analysis, model interpretation and integration of results” (Jashapara, 2011). This technology can be used for exploring huge databases and offering conclusions from the sored information, and for bringing intelligent ways of moving on with the management of the organization.