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information technology

A Dictionary of Business and Management | 2006 | © A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information) Copyright

information technology (IT) The use of computers and other electronic means to process and distribute information. Information can be transferred between computers using cables, satellite links, or telephone lines and the cellular network (mobile phones). Networks of connected computers can be used to send e-mail, to interrogate remote databases using the Internet, and to transmit sound, pictures, and moving images. These systems also enable electronic transfer of funds between banks, as well as home banking, automated screen trading in stocks and shares, and the buying of goods and services on-line. In doing so, they have played a major role in the globalization of financial and other markets since the 1980s. The entertainment industry has seen a similar convergence of the broadcast media with computers and telecommunications.

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