Information Management is Knowledge of Requirements

Have you ever been to a market without knowing what your requirements of purchase are? If yes you must be wasting a lot of time looking for information for satisfaction for your needs. You need to do some homework and gather some basic information on your requirement. You must understand what your needs are, what is required to fulfill the needs and how much you are ready to spend on fulfilling your needs. Once you are ready with the information you need for making purchases, you can venture out in the market and start negotiation with the sellers to meet you needs at the lowest possible cost. Understanding your own requirements is a part of Information management. Information is universal, whether it is the demand side or is the supply side. You need to know your needs. The demand and supply segregation is required for different needs though there are a lot of similarities in the two. Even when you are building your house, you need to give your requirements to the architect who makes the plan of your house to fulfill your needs. Unless you are able to provide information of your needs to the architect, he may not be able to present to you a design which would satisfy you in all resects. Here the architect is the provider of your needs in a different form.

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Information management is this comparison which is done between supply and demand and usually grey but not clear as black and white. Information assumes the same importance while visualizing any new business, construction and is of equal relevant to big and small companies alike. Information management s systems make it possible for any organization to clearly outline what they need, when they need and from whom they need to fulfill the business requirements. The main idea is to clearly understand your needs with the information management systems in place.

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