Information management (IM) is the management of the processes and systems that create, acquire, organize, store, distribute, and use information. The goal of information management is to help people and organizations access, process, and use information efficiently and effectively (Detlor 2010).
Theory and Application
Data, information, and knowledge are extremely important commodities for all organizations. The effective utilization of these “commodities” is seen as one of the most critical factors for business success (Minkus et al. 2007). In product development cycles, the effective utilization and application of information and knowledge commodities, e.g., enables the generation of feasible design alternatives and assists the decision-making process, which ultimately determines the success of the designed artifact (Hicks et al. 2002). By realizing proper management of these commodities within the organization, companies can thus obtain significant improvements in...
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