Management Information System

Introduction

• MIS stands for ‘Management Information System’. 

Definition

• Management Information System is a system that provides information to management to help them make decisions and manage their organizations effectively. 
• MIS is an essential tool for decision-making because it provides managers with the information they need to make informed decisions.
• MIS is a computer-based system that provides managers with the tools to organize, evaluate, and manage information to support an organization’s decision-making, planning, and control activities.

Characteristics

• MIS includes software, hardware, people, procedures, and data that work together to collect, store, process, analyze, and distribute information to the various levels of management within an organization to fulfill and support organizational goals and objectives.
• MIS also helps managers to monitor the performance of their organization and to identify areas where improvements can be made.
• MIS systems typically consist of a database, software for entering, retrieving, and manipulating data, and a user interface for accessing and working with the information. The system can be customized to suit the specific needs of the organization and the managers who use it.
• MIS is often used with other management tools such as enterprise resource planning (ERP) systems and business intelligence (BI) tools. Together, these systems can help organizations achieve their goals by providing real-time information and analysis to decision-makers.

Use

• MIS is an important tool for managers because it helps them to identify trends, analyze data, and make informed decisions.
• MIS allows them to track performance metrics, manage resources, monitor budgets, and identify areas where improvements can be made.
• MIS can also help managers to communicate with other departments, suppliers, customers, and stakeholders, and to collaborate on projects and initiatives.
• Some common uses of MIS include financial reporting, inventory management, customer relationship management, and supply chain management.