IS Analysts & The Information Economy

25 Feb

The Growth Of The Information Economy

 

My last post  discussed the effect globalization has on the work of IS analysts. Today I will look at the information economy!

An information economy is one in which information is seen as being a valuable commodity. Society’s growth in demand for information has been quantified in different ways, including our capacity to store information. The world’s technological capacity to store information from 2.6 exabytes in 1986 to 295 exabytes in 2007, which is the equivalent of 60 CD-Roms per person.
The OECD has employed Porat’s definition for calculating the share of the information economy in the total economy. This means the information society has been defined as a society where more than half of the GNP is produced and more than half of the employees are active in the information economy.
IS analysts have to dealing with growing demands as information becomes increasingly valuable. We depend on the information society daily, which can even be seen in the increasing popularity of social media websites and E-Commerce. IS analysts must therefore change their range of skills to meet these demands as well as adapting to new technological advantages, including the growing increase in data available.

 

Hopefully this diagram helps!

 

 

Reference:
The World’s Technological Capacity to Store, Communicate, and Compute Information”, Martin Hilbert and Priscila López (2011),
free access to the article: martinhilbert.net/WorldInfoCapacity.html

 

 

4 Responses to “IS Analysts & The Information Economy”

  1. sad112712305 February 26, 2013 at 10:29 pm #

    Great Blog ! Thanks for the article referencing.

  2. sad111332336 March 4, 2013 at 10:09 am #

    Really interesting blog. Just wondering do you think IS analysts are successfully adapting to this change?

    This is my blog on system analysts in case you’re interested🙂

    https://eternalsunshineoftheismind.wordpress.com/2013/02/20/who-are-systems-analysts/

    • sad112567137 March 6, 2013 at 7:39 pm #

      Thanks for the link🙂 I think IS analysts are adapting to this change, which can be seen as their work constantly evolves.

  3. sad112540853 March 7, 2013 at 11:42 pm #

    Great blog 112567137, very interesting and thanks for the reference😀

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