The Information-Based Economy
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We should pay attention to the fact that the information-based economy is because information has a material value, as it allows all individuals to make choices that result in expected returns higher or more than what they would get from the choices in the absence of information. Today the information became a resource and an essential element in life and the economy. It is called in the most economic literature the (knowledge economy), but it is better to call it the information economy because the dependence on information in it is more.
but although some of them consider it an intangible resource and this is a big mistake, as information is a resource and has a cost resulting from the procedures for obtaining it or producing it in various ways in order to achieve a benefit from its use in the future to increasing profits, reducing costs and increasing their competitiveness.
The organizations attach great importance to spending on information or research and development and it can reach millions of monetary units. The amount of spending on information varies from one organization to another for several factors, perhaps the most important of which are the size of the organization and the nature and objective of the organization. It is also difficult to measure or predict the cost of obtaining information or the benefit resulting from it, in addition to the difficulties in determining its source, the appropriate timing for obtaining it, and determining the beneficiary party also.
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