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.

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.

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.

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