MINNEAPOLIS--(BUSINESS WIRE)--June 20, 2000--Net Perceptions, Inc. (Nasdaq: NETP) today announced the availability of Net Perceptions for Knowledge Management 2.0. Building on the realtime personalization technology that revolutionized marketing on the Internet, Net Perceptions for Knowledge Management 2.0 has a people-centric approach that enables large organizations to slash costly search time, drastically reduce reinvented wheels and bring together the right employees at the right time.
Created to integrate into employees' existing work habits in the applications and environments most familiar to them, such as Internet browsers or other frequently used applications, Net Perceptions for Knowledge Management 2.0 connects people needing information to both the knowledgeable individuals within the organization who can assist them as well as the information these people have found most useful.
"By connecting people who have in the past or who are currently working on similar things, the organization can increase the reuse and reinvestment of their knowledge and experience rather than reinvent it on a daily basis," said Sang Kim, general manager, Net Perceptions for Knowledge Management Business Unit.
This intuitive solution builds on Net Perceptions' proven technology that creates dynamic individual behavioral profiles that update themselves as users' behaviors change. It then creates a knowledge community around each particular user and in realtime recommends the most valuable people and resources in the networked enterprise that can help them with the task at hand. Existing customers of the Net Perceptions for Knowledge Management solution, including JP Morgan, Procter & Gamble and The American Association of Higher Education, laud the solution's ability to increase collaboration and innovation, enable a faster reaction to changing customer and market needs, and reduce the duplication of effort and search time.
"We're confident enough in the impact of Net Perceptions for Knowledge Management on our business that we've continued to expand it from an initial test group to our entire R&D operations worldwide within the last six months," said John Roeder, Proctor & Gamble, vice president of Information Technologies. "By connecting disperse staff with related interests or projects from around the globe, we feel that the solution has already helped us eliminate redundancies within our R&D activities and created a better synergy between our most valuable resources -- our people."
By working closely with its customers, Net Perceptions has developed new features that meet the changing needs of networked - but physically separated - organizations. New features include:
-- Actionable Intelligence. New analysis and reporting features
give management a better understanding of the relationships
between people and knowledge resources. Managers can identify
"knowledge communities" that don't exist on corporate "org.
charts," which resources are most valuable to those
communities, emerging interest trends that can be leveraged to
enhance shared learning and training, and duplicated efforts
wherever they occur.
-- Shared Knowledge Collections. People often build personal
collections of information around topics that are relevant to
them. They store the most valuable resources pertaining to
each topic in one place for easy retrieval as needed. These
personal collections are valuable to others, but the value
can't be shared because conventional knowledge management
solutions don't know they're there. The new COLLECTIONS
feature facilitates the building of personal knowledge
collections, and recommends the right collections to others
when they start doing similar research.
-- Personal Knowledge Networks. The new EXPLAIN function gives
individual users an understanding of the relationships between
themselves and the people and resources within the
organization. This empowers them to connect with the people
and resources that can help them the most with whatever
challenge is at hand.
Because the vast majority of an organization's "knowledge capital" resides within its employees' heads, the people recommendations that Net Perceptions for Knowledge Management 2.0 makes set the stage for interaction between employees who might not otherwise ever know about one another.
"Within most organizations, the vast majority of intellectual capital is tacit - that is in people's heads vs. documented - and dynamic, but most of the solutions available to these organizations only address the small percentage of knowledge that is explicit and static," said Matt Cain, vice president, Web and collaboration services of Meta Group. "Companies need a people-centric tool that enables organizations to fully leverage the broad base of human experience and expertise by making tacit knowledge available to other employees."
"The extension of our personalization technology into the knowledge management arena illustrates one more way that Net Perceptions is helping businesses solve some of their toughest information challenges," said Steven Snyder, president and CEO of Net Perceptions. "The fact that large Fortune 1000 companies have already begun to widely use and benefit from our knowledge management solution is a testament to the time that we spent in listening and responding to the needs of the marketplace."
About Net Perceptions
Net Perceptions is a leading provider of enterprise personalization and precision marketing software solutions. Its software and services are designed to help businesses understand customers individually, optimize product and information assortments, prices and inventories and offer the right product to the right customer at the right price. Net Perceptions' customers include many of the world's best-known brands including: Art.com, Bertelsmann, The Children's Place, Egghead.com, eToys.com, CDNOW, Fingerhut, Hudson's Bay Company, J.C. Penney, Procter & Gamble, Tower Records and Walgreens. Incorporated in Delaware, July 3, 1996, the company has offices in Minneapolis; San Francisco; New York; Austin, Texas; Richardson, Texas; Berkshire, U.K. and a joint venture operation in Japan.
Net Perceptions is a registered trademark of Net Perceptions. All other trademarks are the property of their respective owners. This news release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the company's limited operating history, delays in product development, development of the Internet market, changes in product pricing policies, competitive pressures, and the risk factors detailed from time to time in the company's periodic reports and registration statements filed with the U.S. Securities and Exchange Commission.
CONTACT: Net Perceptions
Jacqueline Hanson
612/918-1749
jhanson@netperceptions.com
or
Waggener Edstrom
Rich Adolph
425/637-9097
richa@wagged.com
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