A management information system (MIS) provides information needed to manage organizations efficiently and effectively.[1] Management information systems involve three primary resources: people, technology, and information. Management information systems are distinct from other information systems in that they are used to analyze operational activities in the organization.[2] Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. decision support systems, expert systems, and executive information systems.[2]
Q. Advantage of MIS
The
following are some of the benefits that can be attained for different types of
management information systems.[5]
- The company is
able to highlight their strength and weaknesses due to the presence of
revenue reports, employee performance records etc. The identification of
these aspects can help the company to improve their business processes and
operations.
- Giving an
overall picture of the company and acting as a communication and planning
tool.
- The availability
of the customer data and feedback can help the company to align their
business processes according to the needs of the customers. The effective
management of customer data can help the company to perform direct
marketing and promotion activities.
- Information is
considered to be an important asset for any company in the modern
competitive world. The consumer buying trends and behaviors can be
predicted by the analysis of sales and revenue reports from each operating
region of the company.