Strategic Information Management in the Digital Era: Challenges

and Solutions for Enterprises

Xinyang Wang

Department of Civil, Environmental and Geomatic Engineering, University College London, London, WC1E 6BT, U.K.

Keywords: Digital Transformation, Information Management, Data Governance.

Abstract: With the advent of the digital age, enterprise information management is encountering unprecedented

challenges and opportunities. This study explores the key issues and challenges of enterprise information

management strategies in a rapidly changing technological environment, particularly focusing on the swift

changes in information technology, the surge in data volume, and the critical importance of information

security and privacy protection. The research comprehensively analyzes the difficulties in information

management within the digital context, such as the increasing complexity of data management and issues of

information overload, and proposes effective management strategies. These strategies include adopting

advanced information technologies, implementing comprehensive data governance, strengthening

information security, and enhancing knowledge management. Aimed at improving decision support and

operational efficiency, these strategies also optimize market competitiveness. The insights this study provides

offer theoretical understanding and practical guidance for enterprises to adapt and leverage the

transformations brought about by digitalization, thus fostering ongoing innovation and development.

1 INTRODUCTION

In today’s digital era, information technology is

developing rapidly. To meet the trend of digital

development, countries are accelerating the

introduction of digital economy strategies and

gradually forming a new era of global digital

economy development patterns (Li, 2023). This poses

new requirements for information management in

enterprises, as they need to constantly update and

optimize their information management strategies to

adapt to the rapidly changing technological

environment and market demands. Information

management involves collecting, storing, and

processing data and, more importantly, efficiently

utilizing information resources to support enterprises'

decision-making and operational processes. Small

and medium-sized enterprises often face challenges,

such as limited information management resources

and frequent technological updates. They urgently

need scientific management strategies to enhance

their competitiveness and operational efficiency.

The main purpose of this study is to explore

information management strategies in the context of

https://orcid.org/0009-0009-6850-5316

the digital age. Through literature review and case

analysis, systematically analyze the challenges faced

by information management in the digital

environment and the strategies to address these

challenges. The research aims to provide practical

and feasible management strategies for enterprises,

helping them improve their information management

level, optimize operational efficiency, and enhance

market competitiveness in the digital age.

2 LITERATURE REVIEW

2.1 Digital Era and Information

Management

The digital age is often defined as the era of rapid

development of information technology and its

profound impact on the economy, society, and culture

(Verhoef et al., 2021). Nicholas Negroponte, the

pioneer of the concept of the digital age, pointed out

in his book "Digital Survival" that digitization has

changed how people live. People have become

Wang, X.

Strategic Information Management in the Digital Era: Challenges and Solutions for Enterprises.

DOI: 10.5220/0013231100004558

In Proceedings of the 1st International Conference on Modern Logistics and Supply Chain Management (MLSCM 2024), pages 48-53

ISBN: 978-989-758-738-2

accustomed to obtaining various data through digital

technology. Mobile devices and network technology

no longer constrain people from fixed traditional

computers. In contrast, intelligent technology allows

people to interact with various subjects and objects in

virtual space by touching or wearing them (Yu,

2022).

Information management is the effective

collection, processing, storage, retrieval,

transmission, and utilization of information resources

through systematic methods and technologies to

support organizational decision-making and

operations. Information management aims to

strengthen the effective utilization of information

resources, using modern information technology as

the main means to implement a series of management

activities such as planning, organizing, commanding,

budgeting, controlling, and coordinating information

(Li, 2022).

Data governance refers to a set of policies,

procedures, standards, and measures implemented

within an organization to ensure the quality, security,

privacy, and availability of data, thereby supporting

the organization’s strategic goals and operational

efficiency. Data governance is integrating, managing,

and monitoring a company’s data assets. It is the

governance of different data such as master data,

reference data, metadata, etc., including managing

issues related to data quality, security, etc. (Liu,

2023). Its core goal is to maximize data value and

minimize data-related risks through effective

management and control.

2.2 Research Status

In recent years, research on information management

strategies in the digital age has mainly focused on

data governance, information technology

applications, information security, and knowledge

management. Research has shown that effective data

governance strategies help improve data quality and

ensure data security and compliance (Alhassan et al.,

2019). Meanwhile, the application strategies of

information technology, such as cloud computing and

artificial intelligence, have significantly improved

enterprises' information processing capability and

decision support level (Ravichandran, 2020). The

information security strategy emphasizes the

comprehensive application of technology and

management to prevent information leakage and

tampering and protect privacy (Von, 2013). In

addition, knowledge management strategies enhance

enterprises' innovation capability and

competitiveness by promoting the acquisition,

sharing, and application of knowledge (Lee & Choi,

2003). These research findings provide an important

theoretical basis and practical guidance for

enterprises to formulate and implement effective

information management strategies in digitalization.

3 INFORMATION

MANAGEMENT CHALLENGES

IN THE DIGITAL ERA

3.1 Rapid Changes in Information

Technology

The rapid changes in information technology pose

continuous challenges to enterprise information

management. The continuous emergence of new

technologies, such as cloud computing, blockchain,

and artificial intelligence, requires enterprises to

constantly update their information management

systems and strategies to maintain a competitive

advantage. However, rapid technological changes

also mean that enterprises must invest a lot of

resources in technical training and system upgrades,

which is a huge burden for resource-limited

enterprises (Khatri & Brown, 2010). In addition,

applying new technologies may bring new risks and

uncertainties, and enterprises must find a balance

between pursuing technological innovation and

controlling risks. Rapid technological change may

also lead to technological obsolescence and

dependence, increasing enterprise operational risks

and uncertainties (Fichman, 2014).

3.2 Data Explosion and Information

Overload

In the digital era, the rapid increase in data volume

has brought enormous challenges to enterprise

information management. The Internet, the Internet

of Things, social media, and other channels continue

to generate a large amount of data. Enterprises must

face effectively collecting, storing, processing, and

analyzing these data. The problem of information

overload caused by data explosion not only increases

the cost of data storage and management for

enterprises but may also lead to decreased decision-

making efficiency as extracting useful information

from large amounts of data becomes increasingly

difficult. The influx of large amounts of data requires

complex data architectures and high-performance

computing power, which requires enterprises to have

advanced technological foundations and effective

Strategic Information Management in the Digital Era: Challenges and Solutions for Enterprises

strategies to deal with data redundancy and

information noise (Chen et al., 2014). In addition,

information overload can cause employees to feel

confused and stressed, reducing productivity and

creativity.

3.3 Information Security and Privacy

Issues

Information security and privacy protection are

particularly important in the digital age. With

increased data volume and frequent data sharing,

enterprises face increasingly escalating information

security threats. Hacker attacks, data leaks, and

violations by internal personnel pose significant risks

to enterprises. Moreover, strict privacy protection

regulations require companies to comply with strict

regulations when processing user data; otherwise,

they will face high fines. Enterprises need to guard

against external attacks and be vigilant against

internal threats, such as intentional sabotage or

unintentional errors by employees, which puts higher

demands on information security (Siponen & Vance,

2010). In addition, the complexity of privacy

protection increases with data types and mobility,

making data management more difficult (Smith,

2011).

4 INFORMATION

MANAGEMENT STRATEGIES

IN THE DIGITAL ERA

4.1 Information Technology Strategy

The application of emerging information

technologies plays an important role in improving the

information management level of enterprises. For

example, artificial intelligence (AI) and blockchain

technology provide effective tools for enterprises to

improve the level and efficiency of information

management. AI technology can help enterprises

better understand and utilize large amounts of data

through deep learning and mining. Specifically, AI

technology can predict market trends, optimize

supply chain management, and improve customer

service quality. Blockchain technology provides a

secure, transparent, and tamper-proof data storage

method, which can effectively prevent data tampering

and fraudulent behavior. Blockchain can also achieve

automated business process management through

smart contracts, reducing manual intervention and

operational risks. In addition, the application of

Internet of Things (IoT) technology is constantly

expanding. By connecting various devices and

sensors, enterprises can collect and analyze data in

real-time, improving operational efficiency and

decision-making ability.

4.2 Data Governance Strategy

Effective data governance is key to ensuring data

quality and compliance. Data quality control is the

core of it, and by implementing data cleaning,

validation, and monitoring, it can effectively reduce

data error rates and improve data consistency. Data

standardization is also crucial. Through unified data

standards and metadata management, it can ensure

data consistency from different data sources during

integration and reduce data redundancy and

confusion. Standardization helps with data

interoperability. It improves data comprehensibility

and usability, providing a solid foundation for

enterprise data analysis and decision-making. The

successful implementation of data governance

strategies requires comprehensive consideration of

multiple aspects. In addition to data quality control

and standardization, attention should be paid to data

lifecycle management. This includes the entire

process management from data collection, storage,

and use to final archiving and destruction, which

requires avoiding data leakage and violation risks

throughout the entire process. In addition, detailed

data access control and permission management are

also essential. Permission management should be

based on user roles and responsibilities, and strict

access control policies can effectively prevent

internal and external data leaks and unauthorized

access.

4.3 Information Security Strategy

In the field of information security, enterprises can

adopt a series of strategies to ensure information

security and user privacy. For example, establishing

a sound network security infrastructure, including

efficient firewalls and intrusion detection systems,

ensures data integrity and confidentiality during

transmission and storage. As the first line of defense

for network security, firewalls can effectively block

external malicious attacks. Intrusion detection

systems can promptly detect and respond to potential

security threats, preventing attackers from further

invading the enterprise network. It is also possible to

consider implementing a data encryption

transmission mechanism. Data encryption technology

can ensure that even if data is intercepted during

MLSCM 2024 - International Conference on Modern Logistics and Supply Chain Management

transmission, unauthorized parties cannot interpret it.

In addition, establishing a security incident response

mechanism is also a good approach, which requires a

clear incident reporting process, a quick response

team, and a detailed emergency plan to ensure that in

the event of a security incident, the situation can be

quickly controlled and normal operations can be

restored. Therefore, in the daily operation of

enterprises, it is also necessary to strengthen

employee security awareness training and develop

employee security operation standards, such as

regularly changing passwords, identifying phishing

emails, etc., to improve the ability of employees to

respond to and deal with security threats.

4.4 Knowledge Management Strategy

Knowledge management is an important means of

enhancing enterprises' information management and

innovation capabilities. Establishing an efficient

knowledge base and information-sharing platform

can promote knowledge exchange and cooperation

among employees, thereby accelerating the process of

problem-solving and innovation. The knowledge base

should contain the enterprise's core knowledge and

best practices, making it easy for employees to access

and use at any time. The information-sharing

platform should support various forms of knowledge

exchange, such as forum discussions, online

seminars, and document sharing. Enterprises can also

regularly hold experience-sharing and cultural

construction activities, such as cross-departmental

team collaboration and project reviews, which can

help cultivate a positive knowledge-sharing

atmosphere. These activities not only enhance the

team collaboration ability of employees but also

stimulate innovative thinking. In addition, enterprises

can utilize advanced information management

technologies to mine and utilize knowledge assets

hidden behind data, such as extracting valuable

information from a large amount of text data through

natural language processing technology and

transforming it into useful knowledge, providing

important support for enterprise innovation and

development.

5 DISCUSSION

5.1 Information Management

Strategies in Different Industries

The significant differences in information

management strategies among different industries

result from their specific business environment,

degree of technological application, legal and

regulatory requirements, and market competition.

This article comprehensively summarizes important

information management strategies widely used in

major contemporary industries from various

literature, providing references for enterprises.

The financial services industry focuses on

establishing efficient data security and compliance

frameworks to protect customer information and

respond to financial fraud. The retail industry focuses

on real-time data analysis and personalized

marketing, improving sales efficiency and customer

satisfaction through precise collection and analysis of

consumer behavior data. The manufacturing industry

optimizes supply chain management and information

flow in production processes, using the Internet of

Things and big data analysis to improve production

efficiency and product quality. The information

technology and communication industry focuses on

technological innovation and optimization,

improving service efficiency and customer

experience through cloud computing, artificial

intelligence, and IoT applications. The healthcare

industry is committed to improving the security and

interoperability of medical information systems and

utilizing health data analysis to optimize patient

treatment and health management. Energy and

utilities focus on intelligent energy management and

infrastructure monitoring, improving energy

efficiency and service reliability through data-driven

operational optimization. Education focuses on

establishing student information management

systems and online learning platforms to support

intelligent management and allocation of student

learning and educational resources. The media and

entertainment industry focuses on content

management and user experience optimization,

utilizing data analysis and user feedback to enhance

content recommendation and media dissemination

effectiveness.

The focus and methods of information

management strategies in these industries vary

depending on their business needs and market

environment. However, they are actively responding

to the challenges and opportunities of the digital age,

utilizing advanced technology and data-driven

methods to improve operational efficiency,

innovation capabilities, and customer experience.

5.2 Common Problems and Suggestions

In today’s digital age, enterprises face an increasingly

complex and rapidly changing information

Strategic Information Management in the Digital Era: Challenges and Solutions for Enterprises

management environment, with various

technological and market pressures constantly

driving them to reassess and optimize their

information management strategies. In this context,

this section will explore the common problems in

current enterprise information management strategies

and propose corresponding improvement

suggestions.

The current information management strategy

faces several key issues. Firstly, the difficulty of

integrating information systems is a prominent issue.

With the increasing complexity of enterprise

information systems, integration between different

systems may need more technical and operational

barriers, leading to better information processes and

low efficiency. Secondly, cost management and

resource constraints also significantly impact

information management. Enterprises face enormous

pressure regarding information technology

investment and operating costs, especially in adopting

new technologies and system upgrades, often

requiring a balance between investment and

efficiency. Finally, difficulties in change

management are also common. Introducing new

information management strategies or technologies

often requires companies to undergo cultural changes

and organizational restructuring, which may face

employee resistance and insufficient support from

management, thereby affecting the smooth progress

of the change.

In response to these issues, this article proposes

some suggestions for improvement for enterprises.

Firstly, enterprises can adopt open architecture and

standardized interfaces for information system

integration difficulties to promote interoperability

and data fluency between different systems.

Secondly, when facing cost management and

resource constraints, enterprises can consider

adopting flexible IT solutions such as cloud

computing and software as a service to reduce initial

investment costs and operational expenses. Finally, in

response to the difficulties in change management,

enterprises can strengthen leadership and

communication, ensure the clarity of change goals

and employee engagement, and develop clear change

plans and training measures to help employees adapt

to new information management practices and

workflows.

6 CONCLUSION

This study delves into the key issues and solutions of

enterprise information management strategies in the

digital era. Firstly, this article points out the

challenges enterprises face in the digital environment,

including the rapid changes in information

technology, data explosion, information overload,

and information security and privacy issues. Then,

this article proposes strategies to address these

challenges. In summary, building a strong

information technology system, adopting advanced

data governance technologies, formulating strict data

security policies, and conducting efficient enterprise

knowledge management are the four key strategies

for information management in the digital era. The

effective implementation of these strategies can help

enterprises better cope with the challenges of the

information age and provide strong information

support for the sustainable development of

enterprises. Finally, this article analyzes the

significant differences in the focus and methods of

information management strategies among different

industries. It provides suggestions for improvement

for some common information management

problems in enterprises. The research conclusion of

this article can provide some theoretical support and

practical guidance for enterprises, which can help

improve their information management level,

enhance their competitiveness in the digital era

market, and promote their sustainable development in

the digital era.

The significance of this research can be divided

into two aspects: theoretical significance and

practical significance. In terms of theoretical

significance, this study combines information

management theory with the background of the

digital era. It enriches existing information

management research by analyzing enterprises'

challenges and response strategies in the digital

environment. In terms of practical significance, this

study provides a guide for enterprises' information

management strategies in the digital era. This article

aims to provide a theoretical basis and practical

guidance for enterprises in the digital transformation

process through detailed theoretical analysis and

practical cases, support them in making scientific

decisions in the field of information management, and

ultimately achieve sustainable development and

innovation of business.

Although this study delves into the information

management strategies of enterprises in the digital

age, there are still some limitations. The breadth of

case studies in different industries is relatively narrow

and only covers some possible industries and types of

enterprises. Meanwhile, this article did not discuss all

possible strategy choices, and strategies in certain

specific contexts have yet to be thoroughly explored.

MLSCM 2024 - International Conference on Modern Logistics and Supply Chain Management

Further analysis of specific technological

applications and management practices is needed. In

future research directions, further exploration can be

conducted on the impact of other information

management strategies on enterprises, in-depth

analysis of the differences and implementation effects

of information management strategies in different

industries, and the application of more intelligent and

automated information management technologies.

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Strategic Information Management in the Digital Era: Challenges and Solutions for Enterprises