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A good knowledge base increases customer retention. When customers are happy, retention rates increase, and that means long-term business success, consistent sales, and higher revenue. It's easier to convert an existing buyer into a repeat customer than to turn a lead into a client.

Create a basic requirements list for knowledge base software: 1. Advanced search.2. User-friendly interface.3. News capability.4. Document version control (versioning)5. Feedback function.6. Decision tree tool.7. Easy authoring.8. Highlight new changes.

A knowledge base is a platform that includes a collection of questions, answers, guides, and documentation related to a product or service. Users are able to type a few words and find answers to common questions about the product. There are also private knowledge bases.

Knowledge base management & best practices are: 1. Know audience. 2. Keep knowledge base on brand. 3. Consider accessibility. 4. Update knowledge base with every product update or launch. 5. Share knowledge base everywhere. 6. Measure its effectiveness.

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There are three main components of a knowledge based system: knowledge base: the actual knowledge stored as ontologies in the system. Inference engine: the backend component of a KBS that applies logic rules (as assertions and conditions) to the knowledge base to derive answers from it.