The Collaborative International Dictionary of English v.0.48:

information processing \in`for*ma"tion pro"ces*sing\, n.
   The processing of information, especially by computers,
   including the organization, distribution, and frequently the
   analysis of data and the presentation of results in easily
   understood form.
   [PJC]

WordNet (r) 3.0 (2006):

information processing
    n 1: the sciences concerned with gathering, manipulating,
         storing, retrieving, and classifying recorded information
         [syn: information science, informatics, information
         processing, IP]