The essence of the IT revolution is that it triggers a rise in productivity of the economy as a whole, while at the same time inducing profound changes in various entities including corporations and governments. For example, Chairman Greenspan of the US Federal Reserve has repeatedly taken up the subject in his speeches.
The IT revolution is enabling companies to grasp their production lines and consumer needs on a real-time basis. Moreover, it also makes it possible for them to slash precautionary buffers such as inventories, funds, and workers, a point Chairman Greenspan emphasizes when discussing the benefits of the IT revolution.