In a broader sense, information is structured, processed and organised information. It gives context to other data and allows intelligent action making. For instance, a single customer’s sale at your restaurant is information it becomes information the business can extract and process so that the best possible sale can be made.

But in order for information systems to make data-processing, analysis and action making possible, they must be built on solid foundations. The most important basis of good information systems is information. Without information, there can be no business function. In fact, without a properly conceived information system, there can be no proper use of information technology.

With all its promise of increased productivity, improved customer service and a better, smarter business – information systems are, in many ways, almost paradoxical. There are times when business information systems do what they are supposed to do: make data-processing faster, save time and make decision-making easier. But then there are times when that same system makes more mistakes than it should. And then there are times when business information systems do not work.

Information technology is no longer an abstract idea. Business information systems are part of the modern business environment. They must be robust enough to deal with a wide range of complex and detail oriented business functions. Information technology management is becoming a critical part of any organization’s infrastructure. Organizations are increasingly dependent on information technology to enhance their overall performance.

Knowledge management is another important foundation of good information technology. The ultimate task before information technology is to create, manage and keep track of the vast storehouse of human knowledge. Humans are an amazing phenomenon that make data processing much more difficult, if not impossible. There is an entire discipline called “Knowledge Management” which has emerged as the corner stone of many information systems. This discipline attempts to make data processing less complicated by managing the information that is already available.

Information technology is the foundation upon which much of our global economy is built. If information technology cannot be managed properly, the whole economy will grind to a halt. In this period of globalization, information technologies will become even more important. It is imperative that businesses of all sizes embrace continuous data processing cycle.

To give a brief tour of how this works: Think of an encyclopedia or a dictionary; think of an encyclopaedia of knowledge. What you see in these systems are entries. Wikipedia is a very powerful information source, and so is arXiv. Encyclopedias and encomparoia are also part of this compilation of knowledge and are very valuable sources for improving knowledge in general.

Information technologies allow people from around the world to access large amounts of information. Wikipedia is a very powerful source of information, and so is arXiv. The key information technologies on the horizon are: information, encyclopedias, wikis, knowledge management systems, and knowledge verification/orgputing.