Management Information System (MIS)
Management information system is an organized combination of people hardware, software, communication network and data resources that collect transforms and disseminates information in an organization. It is the study of people, technology, and organizations.
Management Information System (MIS) that produces pre-specified reports displays and responses on a periodic exception demand or push reporting basis. MIS professionals help firms realize maximum benefit from investment in personnel, equipment, and business processes. In business, these systems are tools used to support processes, operations, intelligence, and IT. The MIS manager typically analyzes business problems and then designs and maintains computer applications to solve the organization’s problems. The purpose of an MIS has improved decision-making, by providing up-to-date, accurate data on a variety of organizational assets, including Financials, Inventory, Manufacturing, Marketing, Raw materials etc.
The following are some of the justifications for having an MIS system
- Decision makers need information to make effective decisions.
- MIS systems facilitate communication within and outside the organization
- Record keeping – record all business transactions of an organization and provide a reference point for the transactions.