Managing information: Issues and challenges

Information is a socio-economic product. Organized generation, transform and use of information is helpful in shaping the socio economic development of any nation. The value of information is not absolute but relative. Value is determined by the nature of and the situation of the consumer of information. Information that has significance will be of high potential value to large number of users. Understanding the concept of value of information is of primary importance in satisfying group and individual information needs. The deluge of information is unprecedented today, in every sphere of our life, be it our social, work and recreation, we have got to deal with multitude of data serving in contextual, biased and purposeful backdrop. The biggest challenge is how we are, as individuals, organizations and society deal in capturing, storage and preservation of information for optimal use or for posterity. Different stakeholders engaged in the information management perceive and address these challenges in variety of ways.