The MAJOR reason to classify information assets is

Information asset classification is the process of assigning a level of sensitivity and criticality to an information asset based on its value, importance, and impact to the organization. The major reason to classify information assets is to determine their sensitivity and criticality, which are the measures of how confidential, proprietary, or sensitive the information is, and how essential, urgent, or time-sensitive the information is for the business operations. By determining the sensitivity and criticality of information assets, the organization can prioritize the protection and recovery of the information assets, implement the appropriate security controls and safeguards, comply with the regulatory and contractual requirements, and manage the information lifecycle and disposal. References = CRISC Review Manual, 7th Edition, page 74.