Management Information System
AN INTRODUCTION
Information or
collection of information has come to play a role in human beings and its
processing contributes heavily to success or failure of their different
activities. While managing a business this becomes further more important as it
acts as bases of decision making. Information acts as past experience which
helps to predict unknown future so that a definite course of action is chosen
with advent of very large business and heavy quantum of business activity has
become a specialised task to manage this heavy volume information so that it
can prove to be helpful for management decision making.
As the name itself
suggests, Management Information System (MIS) includes three terms: first
Management, secondly, Information and thirdly, System.
Management comprises of the
processes activities that managers do in their organisation viz., planning
organising, directing, controlling and staffing.
Information consists data that
is gathered and processed so that some inferences can drawn from it. This
information is retrieved as and when required that manager can use it for
performing his functions and take decision.
System is a set of
processes and sub-processes that are joined in definite sequence to yield and
achieve some objective.
Thus, MIS subject
that attempts at giving systems approach to managing with computer is used as a
tool that helps in tabulation and integration data so that logical inferences
can be drawn.
Management
information systems or computer information systems (CIS) consists of five
related components—hardware, software, people, procedures, and collection of
data.
MIS is the use of information technology, people,
and business processes to record, store and process data to produce information
that decision makers can use to make day to day decisions. The full form of MIS
is Management Information Systems. The purpose of MIS is to extract
data from varied sources and derive insights that drive business growth.
Management Information System is an
implementation of the organizational systems and procedures. To a programmer it
is nothing but file structures and file processing. However, it involves much
more complexity.
A management
information system (MIS) is a computer system consisting of hardware and
software that serves as the backbone of an organization’s operations. An MIS
gathers data from multiple online systems, analyzes the information, and
reports data to aid in management decision-making.
The three components of MIS provide a
more complete and focused definition, where System suggests
integration and holistic view, Information stands for
processed data, and Management is the ultimate user, the
decision makers.
Management information
system can thus be analysed as follows −
Management
Management covers the planning, control,
and administration of the operations of a concern. The top management handles
planning; the middle management concentrates on controlling; and the lower
management is concerned with actual administration.
Information
Information, in MIS, means the processed
data that helps the management in planning, controlling and operations. Data
means all the facts arising out of the operations of the concern. Data is
processed i.e. recorded, summarized, compared and finally presented to the
management in the form of MIS report.
System
Data is processed into information with
the help of a system. A system is made up of inputs, processing, output and
feedback or control.
Thus MIS means a system for processing
data in order to give proper information to the management for performing its
functions.
Definition
Management
Information System or 'MIS' is a planned system of collecting, storing, and
disseminating data in the form of information needed to carry out the functions
of management.
According to
Murdick, "MIS supports decision-making in both structured and unstructured
problem environments. MIS supports decision-making at all levels of the
organisation. MIS are intended to be woven into the fabric of the organisation,
not standing alone.”
According to
Cannith, "MIS is an approach that visualises the business organisation as
a single entity composed of various interrelated and interdependent subsystems
looking together to provide timely and accurate information for management
decision-making, which leads to the optimisation of overall enterprise
goals."
According to
Davis and Olsan, "A management information system is an integrated user
machine system for providing information to support the management, analysis
and decision-making functions in an organisation.” In this definition the use
of computer has been included along with manual procedures of planning,
controlling and decision making.
Example
Mr.
Parson is the Chief Operations Officer (COO) at Bermuda Fabrics LLC. As
part of his job, he needs to forecast the next quarterly production plan, which
includes an expected production quantity for each of the products that the
company sells. He needs a lot of information and statistics to come up with a
useful and reliable projection that captures the current business environment
the company is facing and the company’s capacity to manufacture within those
parameters. How could a MIS help Mr. Parson to develop these forecasts
properly?
The system
can provide all the different variables Mr. Parson needs to develop the
forecast. He will need to review production patterns, past sales, current
equipment, and current suppliers. By the system displaying all this information
in a useful way, Mr. Parson will be able to design a forecasting model (which
can also be included on the system) that will allow him to plan for next
quarter production.
What are
examples of information systems that are needed in organizations
1. Sales and Marketing
1.
Sales Management
2.
Marketing Management
3.
Lead Generation and
Tracking
4.
Order Processing
and eCommerce
5.
Reservation
Management
6.
Customer
Relationship Management (CRM)
7.
Customer
Intelligence
8.
Customer Support
Call Center
9.
Customer Chat
10.
Customer Loyalty
2. Operations
1.
Enterprise Resource
Planning (ERP)
2.
Operations Support
3.
Engineering
4.
Manufacturing
5.
Distribution
6.
Logistics
7.
Inventory and Stock
Control
8.
Scheduling
9.
Process Control
10.
Procurement
3. Research & Development
and Medical
1.
Research Management
2.
Laboratory
Information Management System (LIMS)
3.
Scientific
Information Management
4.
Innovation
Management
5.
Intellectual
Property Management
6.
Clinical
Information System (CIS)
7.
Hospital
Information System (HIS)
8.
Electronic Medical
Record (EMR)
9.
Electronic Health
Record (EHR)
10.
Drug Information
System (DIS)
4. Financial
1.
Accounts Payable
2.
Accounts Receivable
3.
General Ledger
4.
Budgeting and
Planning
5.
Forecasting and
Reporting
6.
Expense Management
7.
Funds Transfer
8.
Investment and
Portfolio Management
9.
Shareholder and SEC
10.
Tax Processing
5. Human Resources
1.
Recruiting and
Hiring
2.
Personnel Data
3.
Payroll
4.
Staffing
5.
Performance
Management
6.
Time Entry
7.
Expense Reporting
8.
Travel
9.
eLearning and
Learning Management System (LMS)
10.
Gamification and
Recognition
6. Productivity
1.
Project Management
2.
Email and Calendar
3.
Word Processing
4.
Spreadsheets
5.
Presentations
6.
Notes and Databases
7.
Workflow
8.
Web Conferencing
9.
Team Chat
10.
Voicemail
7. Information Management
1.
Electronic Content
Management (ECM)
2.
Document Management
3.
Records Management
4.
Images
5.
Videos
6.
Geographic
Information Systems (GIS)
7.
Executive
Information Systems (EIS)
8.
Management
Information Systems (MIS)
9.
Planning
10.
Reporting
8. Business Intelligence
1.
Big Data
2.
Data Warehouses
3.
Data Lakes
4.
Decision Support
5.
Modelling
6.
Prediction Markets
7.
Analytics and Text
Analytics
8.
Visualization
9.
Market Research
10.
Competitive
Intelligence
9. Artificial Intelligence and
Cognitive Computing
1.
Expert Systems
2.
Neural Networks
3.
Natural Language
Processing
4.
Machine Learning
5.
Deep Learning
6.
Intelligent Agents
7.
Intelligent
Personal Assistants
8.
Chatbots
9.
Robotic Process Automation
(RPA)
10.
Pattern Recognition
10. Knowledge Management
1.
Repositories and
Knowledge Bases
2.
Digital Workplace
3.
Social Business
4.
Enterprise
Collaboration
5.
Enterprise Taxonomy
6.
Enterprise Search
7.
Expertise Location
and Skills Inventory
8.
Intranets and Portals
9.
Syndication and
Subscription Management
10.
Idea Management
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