Technological developments, globalization, and numerous information types have caused significant changes in every part of people's life. In this era, along with the occurrence of information society, organizations have also initiated this changing process. Nowadays, increasing competition in economy makes information the most valuable part of production. Management administration, which is of high importance for the firms and which provides advantage in sustainable competition, has become one of the most popular topics. From now on, information is an economical tool for organizations. The people, who have information, are evaluated as powerful. Moreover, if the organizations produce new information from available information, they move ahead of their opponents. Information is in the centre of financial and social change. Meanwhile, information has a key role in both societies' and foundations' superiority struggle over another. Knowledge management is a compile of strategies and processes for creating, finding, and exploiting information. Reaching, gathering, sharing, utilizing, evaluating, and storing information are some of the processes of knowledge management. One of the most important parts of obtaining advantage in competition firms is to evaluate information effectively. In this paper, information management, its importance, its conceptual development, its aim, its underlying perspective, and its processes are highlighted. In the results of the study, two questions have been studied: What can be done in addition to current situation of information management and what are the points need to be careful about. The main focus in this article is on the knowledge management and its importance in the management science.