The Impact of Digitalization on Customer Knowledge Management

Abstract

Abstract The best way for a business to gather pertinent knowledge and apply it for the growth and sustainability of the firm is through communication with its customers. Companies must adapt to today’s data, information, and knowledge-based economy. A company’s ability to evolve depends on how strategically it uses its intangible resources to build its knowledge capital. Digital tools create new channels for client engagement and collaboration. The current study assesses how digital tools affect how businesses interact with their customers and how these tools help customers share knowledge with companies. This study updates knowledge management and customer knowledge management practices in a digital context and serves as an example of these practices. The study aims to address the absence of specific and valuable components in business practices that give them access to client knowledge. The study is conducted on a sample of 10 individuals, managers, and CEOs of Romanian enterprises, using the in-depth interview method. Data from the survey were analyzed and interpreted, and significant results were drawn by comparing them to prior research. The study emphasizes the value of digital tools for customer communication and the potential these platforms provide for gathering knowledge about, for, and from customers. The respondents stressed the significance of knowledge for both the growth of the company and the innovation process. Still, there needs to be more internal structures to manage this knowledge strategically and capitalize on it for the beginning of innovative business approaches. The study identifies the primary challenges to communicating via digital channels and suggests solutions to help companies acquire, share, and use customer data to its fullest potential.