Management Information System (MIS) is an information system that gathers data from multiple online systems, analyses the information, and reports data to aid in management decision-making. The MIS helps in Strategic Planning, Management Control, Operational Control and Transaction Processing through a variety of systems such as Query Systems, Analysis Systems, Modelling Systems and Decision Support Systems. A decision support system (DSS) is a computer program application that analyses business data and presents it so that users can make business decisions more easily. MIS allows greater flexibility, easier solutions to business problems, greater creativity, better interpersonal cooperation etc.
It helps in key fields like inventory, personnel, financials, raw materials etc. based on methods and systematic analysis. As the number of contemporary business data and information exponentially grows in an enterprise, fast and accurate necessary information ensures efficient and quick decision making. Lack of good management information systems renders inappropriate results. With rapid advancement in information technology, it helps in organising optimal databases suiting the company. This database is duly updated from all areas of the organisation in a structured way. MIS helps not just the top level management but also the lower levels of management.
Nowadays business organisations and other enterprises rely on management information systems to carry on their operations, improve in sales, interact with customers and suppliers etc. Besides helping in decision making, information systems may even take independent decisions in situations when the deployment process doesn’t change. This information system avoids uncertainty and creates a solid basis for qualitative decision making in the management and leadership.
All these uses of Information Systems raise the quality of decision making of the management. MIS ensures that correct data is collected from various sources, processed and sent to the right destination. Thus, it fulfils the information needs of an individual, a group of individuals, the managers, etc.
All the concepts of this topic <Management Information System> have been compiled into a Certification Assessment Course. This Assessment will help you to check and enhance your knowledge about the subject and offer you to get certified from The Growth Central VC. This Assessment has been made considering the latest scenario of the industry.
Now that you have read this informative article, put your knowledge to test with this quiz!