Information industry

The information industry or information industries are industries that are information intensive in one way or the other. It is considered one of the most important economic sectors for a variety of reasons.

There are many different kinds of information industries, and many different ways to classify them. Although there is no standard or distinctively better way of organizing those different views, the following section offers a review of what the term "information industry" might entail, and why. Alternative conceptualizations are that of knowledge industry and information-related occupation. The term "information industry" is mostly identified with computer programming, system design, telecommunications, and others.

Information products

First, there are companies which produce and sell information in the form of goods or services. Media products such as television programs and movies, published books and periodicals would constitute probably among the most accepted part of what information goods can be. Some information is provided not as a tangible commodity but as a service. Consulting is among the least controversial of this kind. However, even for this category, disagreements can occur due to the vagueness of the term "information." For some, information is knowledge about a subject, something one can use to improve the performance of other activities—it does not include arts and entertainments. For others, information is something that is mentally processed and consumed, either to improve other activities (such as production) or for personal enjoyment; it would include artists and architects. For yet others, information may include anything that has to do with sensation, and therefore information industries may include even such things as restaurant, amusement parks, and prostitution to the extent that food, park ride, and sexual intercourse have to do with senses. In spite of the definitional problems, industries producing information goods and services are called information industries.

Information services

Second, there are information processing services. Some services, such as legal services, banking, insurance, computer programming, data processing, testing, and market research, require intensive and intellectual processing of information. Although those services do not necessarily provide information, they often offer expertise in making decisions on behalf of clients. These kinds of service industries can be regarded as an information-intensive part of various industries that is externalized and specialized.

Information distribution

Third, there are industries that are vital to the dissemination of the information goods mentioned above. For example, telephone, broadcasting and book retail industries do not produce much information, but their core business is to disseminate information others produced. These industries handle predominantly information and can be distinguished from wholesale or retail industries in general. It is just a coincidence, one can argue, that some of those industries are separately existing from the more obvious information-producing industries. For example, in the United States, as well as some other countries, broadcasting stations produce very limited amount of programs they broadcast. But this is not the only possible form of division of labor. If legal, economic, cultural, and historical circumstances were different, the broadcasters would have been the producers of their own programs. Therefore, in order to capture the information related activities of the economy, it might be a good idea to include this type of industry. These industries show how much of an economy is about information, as opposed to materials. It is useful to differentiate production of valuable information from processing that information in a sophisticated way, from the movement of information.

Information devices

Fourth, there are manufacturers of information-processing devices that require research and sophisticated decision-making. These products are vital to information-processing activities of above mentioned industries. The products include computers of various levels and many other microelectronic devices, as well as software programs. Printing and copying machines, measurement and recording devices of various kinds, electronic or otherwise, are also in this category. The role of these tools are to automate certain information-processing activities. The use of some of these tools may be very simple (as in the case of some printing), and the processing done by the tools may be very simple (as in copying and some calculations) rather than intellectual and sophisticated. In other words, the specialization of these industries in an economy is neither production of information nor sophisticated decision-making. Instead, this segment serves as an infrastructure for those activities, making production of information and decision-making services will be a lot less efficient. In addition, these industries tend to be "high-tech" or research intensive - trying to find more efficient ways to boost efficiency of information production and sophisticated decision-making. For example, the function of a standard calculator is quite simple and it is easy to how to use it. However, manufacturing a well-functioning standard calculator takes a lot of processes, far more than the task of calculation performed by the users.

Research industries

Fifth, there are very research-intensive industries that do not serve as infrastructure to information-production or sophisticated decision-making. Pharmaceutical, food-processing, some apparel design, and some other "high-tech" industries belong to this type. These products are not exclusively for information production or sophisticated decision-making, although many are helpful. Some services, such as medical examination are in this category as well. One can say these industries involve a great deal of sophisticated decision-making, although that part is combined with manufacturing or "non-informational" activities.

Infrastructure

Finally, there are industries that are not research intensive, but serve as infrastructure for information production and sophisticated decision-making. Manufacturing of office furniture would be a good example, although it sometimes involves research in ergonomics and development of new materials.

As stated above, this list of candidates for information industries is not a definitive way of organizing differences that researchers may pay attention to when they define the term. Among the difficulties is, for example, the position of advertising industry.

Importance

Information industries are considered important for several reasons. Even among the experts who think industries are important, disagreements may exist regarding which reason to accept and which to reject.

First, information industries is a rapidly growing part of economy. The demand for information goods and services from consumers is increasing. In case of consumers, media including music and motion picture, personal computers, video game-related industries, are among the information industries. In case of businesses, information industries include computer programming, system design, so-called FIRE (finance, insurance, and real estate) industries, telecommunications, and others. When demand for these industries are growing nationally or internationally, that creates an opportunity for an urban, regional, or national economy to grow rapidly by specializing on these sectors.

Second, information industries are considered to boost innovation and productivity of other industries. An economy with a strong information industry might be a more competitive one than others, other factors being equal.

Third, some believe that the effect of the changing economic structure (or composition of industries within an economy) is related to the broader social change. As information becomes the central part of our economic activities we evolve into an "information society", with an increased role of mass media, digital technologies, and other mediated information in our daily life, leisure activities, social life, work, politics, education, art, and many other aspects of society.

gollark: I don't really want to do very abstract mathy stuff for ages, which is also mentioned in my notes.
gollark: A 17x17 grid is small enough that you can probably get away with inefficiency, ubq.
gollark: I see.
gollark: Oops too many newlines.
gollark: Quoted from my notes:The relevant factors for course choice are probably something like this, vaguely in order: “personal fit” - how much I'll actually like it. This is quite hard to tell in advance. During the Y11 careers interview I was recommended some kind of trial thing for engineering, but I doubt that's on now, like many other things. Probably more important than other things, as I'd spend 3-5 years on said course, will perform better if I do enjoy it, and will probably not get much use out of studying a subject I would not like enough to do work related to. flexibility/generality - what options are opened by studying this stuff? Especially important in a changing and unpredictable world. how hard a subject is to learn out of university - relates to necessity of feedback from people who know it much better, specialized equipment needed, availability of good teaching resources, etc. Likely to decline over time due to the internet/modern information exchange systems and advancing technology making relevant equipment cheaper. earning potential - how much money does studying this bring? I don't think this is massively significant, it's probably outweighed by other things quite rapidly, but something to consider. Apparently high for quantitative and applied subjects. entry requirements - how likely I am to be able to study it. There are some things I probably cannot do at all now, such as medicine, but I didn't and don't really care about those, and there shouldn't be many. Most of the high-requirement stuff is seemingly available with more practical ones at less prestigious universities, which is probably fine.

See also

References

    This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.