Where do you see the impact of Knowledge Management?

What key metrics should you look for to show KM impact? This was one of the areas we explored in our 2014 Knowledge Management survey. 

Answers to the question "What tangible benefits
have you seen so far from Knowledge management?"

One of the questions was "What tangible benefits have you seen so far from Knowledge management?". The answer to this question is shown in the top column chart.

This chart shows that KM can impact a whole range of business metrics. The top 5 impact areas, judged by the nearly 400 knowledge management professionals who answered the survey, are

1. A reduction of time to find knowledge
2. Reduced time to competence for new staff
3. Reduced project or operational cost
4. Reduced project or activity cycle time
5. Improved customer satisfaction

Some of the low scores for the other impact areas reflect organisational type. Only a small proportion of the organisations sampled win work through bidding or are concerned about organisational safety, which is why these two columns may score low.

The conclusion from this chart is as follows - 

Knowledge Management can impact many metrics - cost, time, employee development, customer satisfaction etc - so choose the one which is most strategic to your organisation and measure that one. 

Answers to the question "In which of these areas
do you believe KM has added intangible value"?

We also wanted to explore the intangible benefits, and asked "In which of these areas do you believe KM has added intangible value"?

There were two clear winners - many people saw that KM had increased employee satisfaction, and/or increased leadership understanding of business issues, with improved employee retention as a third choice.

Don't forget to measure these intangible benefits as well.