Strategic information management is a salient feature in the world of information technology (IT). In a nutshell, strategic information management helps businesses and organizations categorize, store, process and transfer the information they create and receive. It also offers tools for helping companies apply metrics and analytical tools to their information repositories, allowing them to recognize opportunities for growth and pinpoint ways to improve operational efficiency.
IT professionals design strategic information management systems to automate the management of incoming and outgoing information to the greatest possible degree. While each company has its own unique IT needs, strategic information management systems typically include built-in controls that filter, sort, categorize and store information in easy-to-manage categories.
Strategic information management systems are typically customized to meet the unique needs of each individual company. Incoming and outgoing data can be sorted and cross-referenced according to a wide range of individually specified controls and parameters, which include the company's business verticals and horizontals, individual clients, demographics, geographic location and business function.
Strategic information management systems are extensively categorized, allowing for an optimal level of organization. Access controls can be as strict or as lax as the client wants, allowing for company-wide access to information databases or limiting information accessibility to key personnel. User-specific controls can also be set, in case employees need access to certain information but management wants to limit their access to sensitive data.
The benefits of strategic information management can be felt from the executive level right down to the functional staff level. It can help businesses expand their operations into new areas, set goals, measure performance and improve overall productivity.
Some of the risks involved with strategic information management systems include implementation challenges, incompatibility with client databases and human error. As with other IT management techniques, data protection and information security is also an ongoing concern.