MIS – Management Information SYSTEM
MIS is a planned system of collecting Data, processing, storing and disseminating data in the form of information needed to carry out the functions of management. MIS (Management Information System) is
Basically concerned with processing data into information, which is then communicated to the various departments in an organization for appropriate decision-making. Phillip kotler defined MIS “A marketing information system consists of people equipment and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Management is usually defined as planning, organizing, directing, and controlling the business operation.Management Information System or MIS can also be defined as an information system that integrates data from all the departments it serves and provides operations and management with the information they require. Management information systems consist of computer resources, people, and procedures used in the modern business enterprise.
MIS (Management information system) is distinct from regular information systems, the term MIS is commonly used to refer to the group of information management methods tied to support or automation of human decision making. Initially in businesses and other organizations, internal reporting was made manually and only periodically, due to this the decision making was delayed and resulted for poor management performances. So now a days with introduction of computers helped to maintain and track all the accounts and data with no wastage of time, As new applications were developed that provided managers with information about sales, inventories, finance , costing a product, and other data that would help in managing the enterprise MIS Term is used broadly in a number of contexts.
Data > Information > Communication > Decisions
Management information systems do not have to be computerized, but with today’s large, multinational corporations, computerization is a must for a business to be successful. MIS (Management information system) provides several benefits to any Organization; it helps in providing quick access to relevant data and documents efficient co-ordination between various departments in an organization, use of less labour, management of day to day activities effectively and efficiently and Closer contact with the rest of the world .With the introduction of the Internet and the World Wide Web, students are able to access information faster and more efficiently using modern Computer Systems. Presently any organization or individual can quickly access, save and print information from any location. One can access internet from Cyber Cafes, schools, mobile phones, at home and even at modern libraries through internet service providers and telecommunication links which helps to make decisions faster.
MIS (Management information system) can be classified as performing three main functions:
1. MIS helps to generate reports like financial statements, inventory status reports, or performance reports needed for routine or nonroutine purposes.
2. MIS Helps to answer what-if questions asked by management. For example, questions such as “If company changes credit term for customers what would happen to cash flow? Can be answered by MIS.
3. MIS helps to support decision making, this type of MIS is appropriately called Decision Support System (DSS). DSS attempts to integrate the decision maker, the data base, and the quantitative models being used.
MIS (Management Information System) usually relies on a well-developed data management system, including a data base for helping management reach accurate and rapid organizational decisions. MIS personnel must be technically qualified to work with computer hardware, software, and computer information systems. So MIS used in right proper way will help in running successful business.