Managing Knowledge discusses knowledge management and collaboration systems. It identifies three important dimensions of knowledge: data, information, and knowledge, with wisdom being the application of knowledge. Knowledge is an important firm asset that increases in value as more people share it, and it exists in both explicit and tacit forms. Knowledge management systems are business processes used to create, store, transfer, and apply knowledge through a value chain including acquisition, storage, dissemination, and application. There are three major types of knowledge management systems that organizations use.