ELI5: Explain Like I'm 5

Industrial information economy

The industrial information economy is a type of economy where companies exchange and share information. In this type of economy, businesses use technology to store, collect, and access data and information. This information can be used to create new products and services, better understand customers, and make better decisions. To be successful in this type of economy, companies must be able to access, analyze, and use the data they have. With the right information, companies can make smart decisions and grow their businesses.