ELI5: Explain Like I'm 5

Information economy

The information economy is about using information to make money. It's like a game, where companies use different kinds of information to help them succeed. They might look at data about their customers to see what they like, what they don't like, and how they could serve them better. They might use information about technology to stay ahead of the competition and make sure their products are as good as possible. They might use information about their competitors to know what kind of products, prices, and services they'll need to beat them. All of this data is used to make money and stay ahead.