Management Information System

1. Management Information System Prof. Jigna A. Dand

2. Types of Information Systems • Transaction processing system (TPS) • Decision support system (DSS) • Management information system (MIS) • Executive information system (EIS) • KNOWLEDGE WORK SYSTEMS (KWS)

3. What is MIS? • Management Information Systems (MIS) is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organisation. • An 'MIS' is a planned system of the collecting, processing, storing and disseminating data in the form of information needed to carry out the functions of management.

4. What is MIS? • MIS refers broadly to a computer-based system that provides managers with the tools for organizing, evaluating and efficiently running their departments. • In order to provide past, present and prediction information, an MIS can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support system, people management and project management applications, and any computerized processes that enable the department to run efficiently.

5. Objectives • The term 'information system' is a general term for a system that facilitates access to information; however, a ' management information system' refers to integrated data sources and information systems, which meet the particular needs and requirements of planning and decision-making. In an ideal case, the major objectives of MIS are to: • reach an understanding of the relevant processes on the basis of the available historic information. This element forms the basis for the development of models, required for forecasting and simulation. • provide information on the current situation, especially for early warning purposes, for instance related to issues impacting on food security, water resources or pest and disease status. • forecast changes and impacts, either natural or man-made , as an element in vulnerability assessments. • forecast the consequences of policy decisions and measures before they are implemented in reality. This implies evaluating options for several given scenarios based on the possible results and predicted consequences, and selecting the most acceptable alternative.

6. Applications of MIS • Strategy Support While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making. MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy. MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were consulted manually. MIS systems can also use these raw data to run simulations – hypothetical scenarios that answer a range of ‘what if’ questions regarding alterations in strategy. For instance, MIS systems can provide predictions about the effect on sales that an alteration in price would have on a product. These Decision Support Systems (DSS) enable more informed decision making within an enterprise than would be possible without MIS systems.

7. Applications of MIS • Data Processing Not only do MIS systems allow for the collation of vast amounts of business data, but they also provide a valuable time saving benefit to the workforce. Where in the past business information had to be manually processed for filing and analysis it can now be entered quickly and easily onto a computer by a data processor, allowing for faster decision making and quicker reflexes for the enterprise as a whole.

8. Applications of MIS • strategic planning • delivering increased  productivity • reducing  service cycles • reducing  product development  cycles • reducing  marketing life cycles • increasing  the  understanding  of  customers' needs • facilitating business and  process re-engineering.