By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
Partner, RSD Solutions Inc.
We hear a
lot about the knowledge economy.
Knowledge is supposedly now equated to power and competitive
advantage. Balderdash! Knowledge is useless. Knowledge has almost no value.
In today’s
age of big data, social media feeds, expert systems, Wikipedia, etc. etc.,
knowledge has become a commodity.
It is what
you do with knowledge that counts. It is
how you think about knowledge that has value.
It is the actions you take on your knowledge that leads to competitive
advantage.
Never confuse knowledge with wisdom. Knowledge is a commodity, wisdom is
priceless.
2 comments:
I think you are confusing knowledge with information or data. Information and data could arguably be considered commodities but knowledge involves an understanding derived from learning or experience. Acquiring knowledge requires cognitive processes such as reasoning and perception. One could argue you can't store knowledge in anything but a human brain and In general most peoples reasoning and perception vary and thus differentiates their knowledge. Therefore, you can't commoditise knowledge as it will never loose differentiation across its supply base.
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