MIS is an abbreviation for Management Information System. We can divide Management Information System (MIS) into three words and understand each part separately to simply understand it:
"Management is the function of doing the right thing at the right
time, with the right person, for the right job."
Information: -
"Information is a collection of organized data that plays an
important role in decision making."
System:
"A system is a collection of elements that provide a framework for
converting unorganized (data) into organized information.
A management information system
is a system that provides accurate information to all levels of management in
order to make the right decision at the right time, by the right person.
A management information system
(MIS) is a computerized database of financial information that is organized and
programmed in such a way that it generates regular operational reports for all
levels of management in a company. Special reports can usually be easily
obtained from the system.
A management information system
(MIS) is a collection of systems and procedures that collect, compile, and
present information from various sources in a readable format. An MIS is used
by managers to create reports that provide them with a comprehensive overview
of all the information they require to make decisions ranging from daily
minutiae to top-level strategy. Management information systems of today rely
heavily on technology to compile and present data, but the concept predates
modern computing technologies.
Sekhar,
Defined management information system as "a system that collects and
processes Jata (information) and provides it to managers at all levels, who use
it for decision making. planning, program implementation and control."
According to Laudon and Laudo, in their book
"Management Information Systems, an formation system is "A set of
procedures that collects (or retrieves), processes, stores, and disseminates
information to support decision making and control."
A management information
system's primary goal is to make managers' decision-making more efficient and
productive. An MIS can provide managers with everything they need to make
highly informed decisions and perform in-depth analysis of operational issues
by pooling information from multiple sources into a single database and
presenting the information in a logical format.
CONCLUSION:
Management Information Systems are collections of interconnected procedures used
in a business enterprise to generate and disseminate information. Such systems
are intended to aid decision-making by those associated with the enterprise in
the process of achieving its goals. The MIS receives data and other IT
infrastructure resources as inputs from the environment and processes them to
meet the information needs of various entities associated with the business
enterprise. There are control subsystems for the use of IT resources, and the
feedback system provides useful clues for increasing the benefits of the
formation system to business. The MIS is a subsystem of the business system
that serves the function of feedback and control in the business system.
ROLE OF MANAGEMENT INFORMATION SYSTEM
The role of the MIS in an organization
is analogous to that of the heart in the body. The blood is information, and
the heart is MIS. The heart's role in the body is to supply pure blood to all
parts of the body, including the brain. When needed, the heart works faster and
pumps more blood. It regulates and controls the incoming impure blood,
processes it, and sends it in the required quantity to the destination. It
meets the needs of human blood supply in both normal and emergency situations.
The MIS serves the same purpose
in the organization. The system ensures that appropriate data is collected from
various sources, processed, and distributed to all appropriate destinations.
The system is expected to meet the information needs of a single person, a
group of people, and management functionaries such as managers and top
management.
The MIS plays the following important roles:
- The MIS meets a wide range of requirements by utilizing a variety of systems such as a query system, analysis system, modelling system, and decision support system.
- The management information system (MIS) aids in strategic planning, management control, operational control, and transaction processing. The MIS assists clerical personnel in transaction processing and responds to queries about transaction data, the status of a specific record, and references to a variety of documents.
- The MIS assists junior management personnel by providing operational data for planning, scheduling, and control, as well as assisting them in making operational decisions to correct an out-of-control situation.
- The MIS assists middle management with short-term planning, goal setting, and control of business functions. It is supported by the application of management tools such as planning and control.
- The MIS assists top management in goal setting, strategic planning, and the evolution and implementation of business plans.
- The MIS is responsible for information generation, communication, problem identification, and decision-making. As a result, the MIS is critical to an organization's management, administration, and operation.
OBJECTIVES & GOAL OF MIS
- A Management Information System should include the following components.
- It maintains better accountability and resource control.
- A MIS monitors and controls resource allocations as well.
- It improves the overall effectiveness of working in a company.
- An organization can generate internal and external reports with the help of MIS.
- An information system for management Enhance long-term planning in an organization or a specific department.
- Facilitate major performance activities.
- A MIS should be dependable for both the organization and the users.
- A major aspect of a MIS is security. It is critical that if an organization uses an information system, the system be secure.
- A department's or organization's information must be easily accessible.
- A Management Information System should safeguard all data entered or used in a system, department, or organization.
IMPORTANCE OF MIS
- Financial
Need:
When we use a MIS system in any organization or department, it reduces the
department's or organization's budget and information values.
- Information
Glut:
Unorganized information has no value and is useless. Unorganized information in
a system is difficult to use or understand.
- Constant
Change: In the information age, technology and IT skills are
rapidly changing. Many organizations launch new services and products, so users
must be introduced to these services. We require MIS for all of these types of
tasks.
- Web
Service: It is now time to embrace digitalization and the internet.
Most organizations have all of their information available on the internet or
in digital form, so if any organization wants to stand out, they should provide
information in the most recent format and on the web, using MIS.
- User
Expectations: Because we live in a fast-paced world, every
user requires access to information 24 hours a day, seven days a week. As a
result, it is critical for an organization or information manager to ensure
that the information provided is up to date, fast, and simple to use for
information seekers.
- Lack
of Time: Every user or information seeker is short on time, and
they collect their required information in a short period of time to save their
time for more work and research in their related field, department, and so on.
- Automation:
Information, knowledge, and decision-making processes are becoming increasingly
automated, and this cannot be done properly without a MIS.
- User
and staff demand: Demand for data, information, knowledge, and
intelligence is increasing, as is the demand for improved information and
intelligence for senior managers.
- Control
on information production: If we need to control on unnecessary,
unusable, waste, information, and data access, we must first control on
information production. MIS can help with all of these tasks.
