| |September 201619CIOReviewCIO INSIGHTSInformation Management System: Why is it Necessary for Business Growth?By Nafees Ahmed, CIO, Indiabulls Headquartered in Gurgaon, Haryana, Indiabulls (BSE: 532544) is a provider of services in the sectors of Housing Finance, Real Estate, Infrastructure, Financial Services, Securities.Business organizations at all levels either enterprises or small business houses have understood its importance and transforming themselves into digital. Digitization comes with its own set of challenges which is retrieving the rel-evant information quickly and correctly. For data retrieval, organizations are commonly us-ing data management but to make it more ef-fective a strong Information Management Sys-tem (IMS) is required. IMS can be applied to any system of software that facilitates the stor-age, organizing and retrieval of information within a computer system for large domains of archived information. The conservative ap-proaches of data collections are both intricate and extensive. A good records management program provides an organization with the ca-pability to associate with new technologies and take advantage of their many benefits.Every business, program or system must address well-defined objectives, which will add value, either directly to the bottom line or toward the achievement of the organization's goals and objectives.Significant amount of time is spent on searching for missing or a misfiled record. Therefore, a well-organized records management program is essential for information management systems so that information retrieval can be enhanced, with corresponding improvements in efficiency and productivity. Moreover, a well-managed information system acting as a corporate asset enables organizations to objectively evaluate their use of information and accurately draft a roadmap for improvements that help them to enhance business revenues. For making search more effective, search strategy may vary according to the available sources. In spite of such guidance, sometimes probable pertinent answers are missed because all potentially relevant databases or information sources are not searched on every query. The process of generating query may contain a knowledge base including a thesaurus that has programmed and embedded complex search queries or set of commands that allow users looking for information to formulate their queries. This approach also
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