Most economic experts seem to agree that the information-technology revolution will bring profound changes to the global economy, and to the Japanese economy as well. Some people still believe that the revolution and the development of multimedia communications technology are only a bubble. However, the revolutionary impact of information technology is obvious, involving not just personal computers and the Internet but the real-time, low-cost retrieval and transmission of a large amount of data by individuals as well as businesses.
Companies and government offices basically are mechanisms that receive, process and transmit data. Decision-making concerning production, transportation and purchasing operations is based on data retrieval, processing and transmission. The information-technology revolution is bound to cause basic changes to those operations. Major changes are inevitable in organizations, as well as in the industrial and socioeconomic structures based on interaction between organizations and individuals.
Postwar technological innovations have led to the development of transistors, microprocessors and computers. The combination of optical fibers and laser technology and increased use of satellites have led to the IT revolution. Technological development in the fields of hardware reached the "critical mass" at which it triggers major changes in software development, and has stirred revolutionary changes in the world.