Why Knowledge of Information Management is Important for Your Future Career | TopMBA.com

Why Knowledge of Information Management is Important for Your Future Career

By Niamh O

Updated March 4, 2021 Updated March 4, 2021

We live in a digital age with limitless information available at our fingertips. As technological tools advance, so does our ability to collect, store, and curate numerous sources of information.

This is why information management – both as a skill and a role – is important to understand in today’s business world.

But what exactly is information management?

Understanding the role

Information management, as the name suggests, centers around the collection and management of information. Organizations in all industries, no matter their size, need to be more efficient when it comes to finding and using information to build business strategies. This is where information management skills are useful.

At its core, information management determines how people and organizations work with information. An organization needs to weigh up the practicalities of how to tackle the information and take into account any ethical consideration needed for private or sensitive information.

Protecting both your organization’s privacy and that of a client is one important element of information management, but the real reward is how much it can boost a business’s profitability.

Many organizations function through project-based work, which relies on collating timely and accurate data so that stakeholders and teams can make informed decisions and fulfil their role in a cost-efficient way.

Some forms of information management include:

  • Business communication systems
  • Business operations management
  • Company decision-making
  • Company record-keeping

Why is it important?

Information and how it is utilized can have a huge impact on the success of a business.

This is why companies are shelling out fortunes in resources to develop their information management systems – and professionals to implement them.

Businesses also have a responsibility to manage their information wisely, keeping it safe from external theft and sorting and storing it efficiently. It’s crucial that information is collected and managed both ethically and responsibly.

After all, a business could get into real bother – with potentially huge fines – if there is any indication of an information/security breach. For example, the new GDPR (General Data Protection Regulation) laws in the EU are designed to ensure companies collect data and information in a responsible fashion, taking the necessary precautions.

How modern business is influencing information systems

Businesses that are able to demonstrate new methods of information management will survive the market much longer than their counterparts, falling in line with customer demand.

Benefits of information systems include:

Behavioral change

Business Information Systems enable better communication between employees and employers. Documents and files can be shared and easily accessed by all relevant personnel, ensuring information is transferred seamlessly.

This can also help front-line employees feel more a part of the decision-making process, ensuring they feel more motivated and committed towards a given task.

New products and services

If a business wants to expand, enhance its customer offering, and ensure a strong hold on the marketplace in the future, a well-organized business information system won’t go amiss.

A company’s information system can help to analyze independent processes and ensures work activities are highly organized.

By using information management effectively, your company will understand the best methods to generate, develop and sell services or products through market research.

Careers in information management

Qualified professionals in this sector are in hot demand. Individuals who understand how to operate and manage information systems are a great benefit to any organization – namely because improving a company’s efficiency will provide a competitive advantage and increase profits substantially.

Those with a knowledge in information management can work across a wide range of professions and sectors, including:

  • IT technical support officer
  • Database administrator
  • Data analyst
  • IT consultant
  • Computer and information systems manager
  • Systems developer

A strong knowledge of information management can be transferred across industries and job roles. Those with a proven track record in the skillset will greatly benefit a company in terms of both development and security. Will you be your organization’s next information management specialist?

This article was originally published in February 2020 . It was last updated in March 2021

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Written by

Niamh is Deputy Head of Content at QS (TopMBA.com; topuniversities.com), creating and editing content for an international student audience. Having gained her journalism qualification at the Press Association, London and since written for different international publications, she's now enjoying telling the stories of students, alumni, faculty, entrepreneurs and organizations from across the globe.