Management information system

MIS

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 1. What is management information system

A management information system (MIS) a computerized database of financial

information organizis ed and programmed in such a way that it produces regular
reports on operations for every level of management in a company. It is usually also
possible to obtain special reports from the system easily. The main purpose of the
MIS is to give managers feedback about their own performance; top management
can monitor the company as a whole. Information displayed by the MIS typically
shows "actual" data over against "planned" results and results from a year before;
thus it measures progress against goals. The MIS receives data from company units
and functions. Some of the data are collected automatically from computer-linked
check-out counters; others are keyed in at periodic intervals. Routine reports are
preprogrammed and run at intervals or on demand while others are obtained using
built-in query languages; display functions built into the system are used by
managers to check on status at desk-side computers connected to the MIS by
networks. Many sophisticated systems also monitor and display the performance of
the company's stock.

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 The Role of Management Information
Systems in Decision Making

• Information Access

Managers need rapid access to information to make decisions about strategic,

financial, marketing and operational issues. Companies collect vast amounts of
information, including customer records, sales data, market research, financial
records, manufacturing and inventory data, and human resource records. However,
much of that information is held in separate departmental databases, making it
difficult for decision makers to access data quickly. A management information
system simplifies and speeds up information retrieval by storing data in a central
location that is accessible via a network. The result is decisions that are quicker and
more accurate.

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 The Role of Management Information
Systems in Decision Making

• Data Collection

Management information systems bring together data from inside and outside the
organization. By setting up a network that links a central database to retail outlets,
distributors and members of a supply chain, companies can collect sales and
production data daily, or more frequently, and make decisions based on the latest
information.

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 The Role of Management Information
Systems in Decision Making

• Collaboration

In situations where decision-making involves groups, as well as individuals,

management information systems make it easy for teams to make collaborative
decisions. In a project team, for example, management information systems enable
all members to access the same essential data, even if they are working in different
locations.

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 The Role of Management Information
Systems in Decision Making

• Presentation

The reporting tools within management information systems enable decision-makers

to tailor reports to the information needs of other parties. If a decision requires
approval by a senior executive, the decision-maker can create a brief executive
summary for review. If managers want to share the detailed findings of a report with
colleagues, they can create full reports and provide different levels of supplementary
data.

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 2. Explain how the 4 components of an MIS add value to an
organization?

1. Executives:
Executives are the people who utilize MIS. These people are
computer professionals who operate MIS for data processing to
achieve organizational goals like planning and decision-making.

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 2. Explain how the 4 components of an MIS add value to an
organization?

2. Hardware:
The hardware components of MIS include various input and output
devices that helps in feeding data as well as displaying the
information when required. The input devices include the keyboard,
scanners and mouse. The output devices may be the monitor,
printer, network devices, and so on.

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 2. Explain how the 4 components of an MIS add value to an
organization?

3. Software:
Computer programs which are designed to do a specific task for
example, MS Office, Banking Software’s, Railway’s applications etc,
different kinds of software available to process the data/information
in an organization such as ERP (enterprise resource planning) and
CRM (customer relationship management).

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 2. Explain how the 4 components of an MIS add value to an
organization?

4. Organizational Procedures:
Procedures are sets of rules or guidelines that an organization
establishes for the use of a computer-based information system. The
procedures may vary from one organization to another. It may also
vary from one department to another as per the requirement. For
example, the working of production department is different from the
working of sales department. The production department requires
information regarding the raw material or quantity of goods to be
produced. So, the production department sets its procedures in such
a way that the MIS system helps in retrieving the information
required by the department. In the similar way, the sales department
requires information regarding the quantity of goods sold and the
other expenses that occurred during the sales of the product.
Therefore, the sales department sets the procedures in such a way
that they get only that information which is required from the MIS.

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3. Solve business problem using information technology

• Information technology includes products and services that can improve a company’s
day-to-day operations and security. This includes computers, servers, peripheral
devices, phone systems, internet connectivity equipment, and security software. IT is
an integral part of modern business that can help companies solve several key
problems.

• Information technology can allow you to securely store your company’s files and
sensitive customer or patient information. Data will be accessible only to authorized
users within the company and will be protected from hackers who could try to steal it
and technological problems that could cause it to be lost or corrupted.

• Rapid communication is essential to compete in today’s business world. Email

servers, routers, internal company billboards, and chat services can enable employees
to communicate with customers and with each other, making communications
smooth and easy.

• You can improve your workers’ efficiency by streamlining workflow systems, sharing
storage, and creating collaborative work spaces. This can enable employees to
produce more work in a shorter amount of time. Technology can let you automate
routine tasks, improve data analysis, and store data for easy retrieval.

• IT can also help you maintain your company’s competitive advantage. You can create
new products, differentiate your products from those of your competitors, and
improve customer service.

• You can lower your company’s costs by using technology to centralize redundant
tasks in one location. You can migrate high-cost functions to an online environment.
You can offer customers email support at a lower cost than phone support. You can
also outsource some functions, offer employees the opportunity to work remotely, and
use less expensive communication options.

• ASG Information Technologies has many solutions for common problems that
businesses face. Contact us today to learn how we can help you.

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THANK YOU
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VICTORIA LINDQVIST

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