I have a question about the difference between it's and it is.

The other day on this forum, I asked to proofread the writing below.

"Revenue management is a significant and permanent issue for our company, and we consider it's important to seek the best solution at all times."

And all of the three replies that I received pointed out, "it's is incorrect," and replaced it with it is.

According to any dictionary that I have, I believe "it's" is just simply the shortened form of "it is." But at the same time, because three out of three people corrected the same thing (all of them are native in English), I think there should be some tricky grammar, which I don't k ow.

Could anyone please explain why "it's" is not okay, and what kind of grammar that is.

Thank you in advance,
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