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Applications of MIS With computers being as ubiquitous as they are today, there's hardly any large business that does not rely extensively on their IT systems. However, there are several specific fields in which MIS has become invaluable. Strategy Support While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making. MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy. MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data wer

There are various types of management information systems. Mason and Swanson (1981) describe four categories of management information systems: 1. Databank Information System- The responsibility of this information system is to observe, classify, and store any item of data which might be potentially useful to the decision maker. 2. Predictive Information System- This system moves beyond pure data collection and the determination of trends over time. Predictive information systems provide for the drawing of inferences and predictions that are relevant to decision making. If data from the above examples were to be used in this way, it is possible to obtain information useful for making predictions or for drawing inferences. 3 .Decision-Making Information System- This system goes one step further in the process of decision making and incorporates the value system of the organization or its criteria for choosing among alternatives. An extension organization's values are many and va

A Typical Management Information System is based on four major components: • Data Gathering The process of collecting required data from external and internal sources • Data Entry The collected data is imputed and stored in the database. Database is the core component used in information processing. • Data Transformation The data stored in the database is transformed into useful information through the application of computer programs and judgments made by the technical support staff and the end users. • Data Utilization The data that has been transformed into useful information is retrieved as needed by the management of the firm for managing operations and decision making.

Management information systems can be used as a support to managers to provide a competitive advantage. The system must support the goals of the organization. Most organizations are structured along functional lines, and the typical systems are identified as follows: Marketing management information systems : A marketing management information system supports managerial activity in the area of distribution, product development, pricing decisions, promotional effectiveness, and sales forecasting . More than any other functional area, marketing systems rely on external sources of data. Human resources management information systems : Human resources management information systems are concerned with activities related to workers, managers, and other individuals employed by the organization. Because the personnel function relates to all other areas in business, the human resources management information system plays a valuable role in ensuring organizational success. Activities perfo

Benefits of MIS MIS can deliver great benefits to enterprises in every industry. Better Planning and Control MIS is designed and managed in such way that it aggregates information, monitors the company's activities and operations and enhances communication and collaboration among employees. This ensures better planning for all activities and better ways to measure performance, manage resources and facilitate compliance with industry and government regulations. Control helps in forecasting, preparing accurate budgets and providing the tools and vital information to employees, top management and business partners. Aid Decision Making MIS can generate synthesized and processed information from computerized/automated and certain manual systems. Information distribution to all levels of corporate managers, professionals and key executives becomes quite seamless with streamlined MIS. Managers are able to make quick, timely and informed decisions. Top management and board mem

Definition by “ Bentley College Journal of MIS ” Management Information System (MIS) is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organisation. The development and management of information technology tools assists executives and the general workforce in performing any tasks related to the processing of information. MIS and business systems are especially useful in the collation of business data and the production of reports to be used as tools for decision making. Management Information System (According to Wikipedia) A management information system ( MIS ) is a subset of the overall internal controls of a business covering the application of people, documents, technologies, and procedures by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Management information systems are distinct from regular information systems in that they are use

It is necessary to analyze the system from different angles. While satisfying such need, the analysis of the system is the basic necessity for an efficient system design. The need for analysis stems from the following point of view. System Objective: It is necessary to define the system objective(s). Many a times, it is observed that the systems are historically in operation and have lost their main purpose of achievement of the objectives. The users of the system and the personnel involved are not in a position to define the objective(s). Since you are going to develop a computer based system, it is necessary to redefine or reset the objective(s) as a reference point in the context of the current business requirement. System Boundaries: It is necessary to establish the system boundaries which would define the scope and the coverage of the system. This helps to sort out and understand the functional boundaries of the system, the department boundaries in the system, and the peopl