What knowledge management isn't

I was catching up on some reading on a flight and came across a KM article in the June Communications of the ACM, Knowledge management mechanisms of financial service sites

Abstract: How can we effectively acquire, use, and manage knowledge via the Web?

Interesting idea.  They formed a model based on that of Schwartz (not familiar) and Nonaka's classic 1994, "The Dynamic Theory of Knowledge Creation:" financial companies do customer knowledge management through dissemination, acquisition, and sharing of knowledge.

Unfortunately, their analysis lends every credence to the problems that Wilson highlights in his The nonsense of 'knowledge management'.  All the evidence presented in this article was about data and information and how financial service websites disseminate, acquire and share information with their customers.  There is no report here of how their customers take action given the information.  There is nothing about the knowledge processes (or Nonaka's knowledge spiral).

The main things that I learn from the article is that most financial services website provide nearly the same user interaction, and that it is impossible to say anything about knowledge management based on experiential surveys as the authors have done.  I would have been more interested in seeing how the companies in question make use of the information they collect / distribute.  Once they have it, how does it impact what they are doing?  Similarly, it would be interesting if the customers do anything different with the information, or if they are simply using these websites as straightforward sources for information about their accounts and transactions.