Over the past two decades, we've seen how quantum information tools have been practically and conceptually useful in understanding quantum phases of matter. In this talk, I'll review how quantum many-body entanglement and quantum matter have intertwined. Specifically, I'll discuss how tensor networks, an entanglement-based tool, have been extremely useful to compute universal properties of quantum phases. Looking ahead, I'll highlight the impact of the rapid development of quantum simulators, which introduces a new realm of mixed-state phases. This brings about fresh theoretical and computational challenges, marking the ongoing journey in the exploration of quantum many-body physics.