Information is a strategic component of modern business, and its effective management has become a critical business challenge. Electronic information has not only been growing in volume at unprecedented rates, its value to business has never been greater. Around-the-clock operations, electronic commerce, corporate governance rules and legally-mandated retention laws have all added to the pressure for better information management. Information lifecycle management (ILM) is a business-centric strategy for proactive management of information throughout its life, from its creation and use to its ultimate disposal. EMC's ILM initiative is enhancing our customers' information management capabilities through data classification, centralized management, automation, product integration, and policy-based management. Research issues related to ILM include information classification and optimization of policy-based information management.