Answer:
“Information is money, but knowledge is power” - that`s not just a beautiful quote, that`s the main philosophy of modern business. An information management system provides the data to identify non-effective areas and leads to better business productivity and efficiency, better decision making, better communication and better knowledge of customer needs. From my experience, I can say that information management is extremely popular in the retail business. The systems named as product information management (PIM) handle all the data, content, and other material that is needed to market and sell products. PIM also ensures that quality data is created for internal use and multichannel distribution. This market is growing rapidly and projected to explode in value reaching $31 billion USD by 2024 and over $48 billion USD by the year 2026. So, these numbers only confirm that information management is very important.
Step-by-step explanation:
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