‹ Back

Information Asset Management:

Governing Data as a Strategic Resource

---

Introduction

As organizations digitize their operations, information itself has emerged as one of the most valuable IT assets. While HAM governs physical devices and SAM ensures software license compliance, Information Asset Management (IAM) focuses on safeguarding and optimizing the value of data. ITIL emphasizes that data is not only a resource for operations but also a strategic asset that must be carefully managed to reduce risk and maximize business outcomes (Axelos, 2019). This article explores IAM as a discipline within ITAM, highlighting its lifecycle, benefits, challenges, and relationship with broader governance frameworks.

Defining Information Asset Management

Information Asset Management involves cataloging, classifying, securing, and governing data throughout its lifecycle. Thomas and Tanner (2020) describe IAM as a discipline that ensures information is treated with the same rigor as tangible IT assets, encompassing intellectual property, customer records, employee data, and financial information. Unlike hardware or software, information is often duplicated, shared, and transformed, making its governance uniquely complex.

For example, in healthcare organizations, patient records are classified as highly sensitive assets. IAM processes ensure these records are securely stored, encrypted, and accessed only by authorized personnel. Beyond regulatory compliance, IAM ensures that such information maintains integrity, availability, and confidentiality.

The Information Asset Lifecycle

IAM follows a lifecycle approach, similar to other ITAM disciplines, but with distinct focus areas tailored to data governance.

The lifecycle begins with identification and classification, where organizations catalog data assets and categorize them according to sensitivity and business value. For instance, an insurance company may classify actuarial models as critical intellectual property, while marketing campaign data may be classified as less sensitive.

Next is the storage and usage phase, where organizations manage how data is stored, accessed, and shared. Security controls such as encryption, access permissions, and monitoring tools are essential in this stage.

During the maintenance and optimization phase, organizations evaluate the accuracy, relevance, and quality of their data. Outdated or duplicate information is cleaned or archived to maintain efficiency and accuracy in decision-making.

The lifecycle concludes with retention and disposal, where information is either archived in compliance with legal requirements or securely destroyed. For example, financial institutions are required to retain certain records for years under regulatory mandates, after which data must be securely deleted to prevent misuse.

Benefits of Information Asset Management

The benefits of IAM extend across compliance, security, and business value. A central advantage is regulatory compliance. Regulations such as the General Data Protection Regulation (GDPR) in the European Union and the Health Insurance Portability and Accountability Act (HIPAA) in the United States mandate strict data governance practices. IAM ensures organizations can demonstrate compliance, avoiding costly penalties.

Risk reduction is another key benefit. By enforcing access controls, data encryption, and secure disposal practices, IAM mitigates risks of data breaches and unauthorized use. For instance, an IAM strategy that ensures customer credit card data is encrypted both in transit and at rest significantly reduces vulnerability to cyberattacks.

IAM also enables strategic value creation. By improving the quality and accessibility of data, organizations can derive insights for innovation, customer engagement, and decision-making. High-quality, well-managed information is the foundation of analytics and artificial intelligence initiatives that drive competitive advantage.

Challenges in Implementing IAM

Despite its benefits, IAM faces challenges. One of the most persistent issues is data silos, where information resides in disconnected systems or departments, making holistic management difficult.

Data proliferation also complicates IAM. The exponential growth of unstructured data—emails, documents, multimedia, and sensor data—creates difficulty in classification and governance.

Balancing accessibility with security is another challenge. While data must be protected, overly restrictive policies can hinder productivity and collaboration. Organizations must design IAM frameworks that strike a balance between user needs and compliance requirements.

Finally, IAM implementation requires cultural change. Employees must be trained to recognize information as an asset and to follow established governance policies consistently.

IAM and Its Relationship with ITAM and IT Governance

IAM is most effective when integrated into the broader ITAM ecosystem. Its relationship with Service Asset and Configuration Management (SACM) is particularly important, as IAM often feeds into the Configuration Management Database (CMDB), where data assets are linked to services and systems.

IAM also complements CAM, as cloud-based storage and SaaS applications increasingly serve as repositories for organizational data. Integrating IAM and CAM ensures that cloud-stored information is governed under the same policies as on-premises data (Gartner, 2021).

By aligning IAM with ITAM and IT governance practices, organizations can ensure that data is managed as a strategic resource, supporting both compliance and innovation.

Conclusion

Information Asset Management is a cornerstone of modern IT governance, ensuring that data is treated as a valuable asset throughout its lifecycle. From identification and classification to secure disposal, IAM enables organizations to reduce risks, maintain compliance, and extract strategic value from their information. Although challenges such as data silos, proliferation, and cultural barriers remain, effective IAM provides significant benefits in security, compliance, and business decision-making. Positioned within the broader ITAM framework, IAM complements HAM, SAM, CAM, and SACM to create a comprehensive model for managing all forms of IT assets.

References

Axelos. (2019). ITIL Foundation: ITIL 4 Edition. AXELOS Limited.

Gartner. (2021). Data Governance Solutions: Market Guide. Gartner Research.

Thomas, R., & Tanner, M. (2020). Data governance and information asset management: Ensuring compliance and business value. Journal of Information Systems Management, 37(3), 210–220.