What is Management Information Systems (MIS)?
A management information system (MIS) is a computer system consisting of hardware and software that works as the backbone of a company’s operations. An MIS collects data from various online networks, interprets the information, and reports data to aid in management decision-making.
Management Information Systems is also the study of how such systems work.
MIS: Improved Decision-Making
The idea of this system is improved decision-making, by providing up-to-date, accurate data on a variety of organizational assets, including:
- Real estate
- Raw materials
- Project timelines
The MIS handles the data, stores it, and makes it available to managers who want to examine the data by running reports.
Central Information System
The goal is to be able to correlate various data points to strategize ways to improve performances. For example, being able to compare sales this month to sales a year ago by studying at staffing levels may point to ways to increase revenue. Or being able to compare marketing expenses by geographic location and link them to sales can also improve decision-making. But the only way this level of analysis is possible is due to data that is collected through an MIS.
Running reports that pull together disparate data points is his essential contribution. That feature, however, comes with a significant cost. MIS implementation is a high investment that includes the hardware and software purchases, as well as the integration with existing systems and training of all representatives.
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