Definition of management information system
System is a system the helps the managers in the company to take decision
with regard to the ongoing operations and ways to control it. Different
types of reports can be generated by the management information system
to aid them in taking decisions. They can plan, control and take decisions
with the help of the management information systems.
Data from different shared databases are got by the management information systems and this data is processed before it is delivered to the managers. The processing of the data can be customized to generate different reports that are easy to read by the managers. Customized queries can be input to the system and reports got.
There are different types of MIS available that can be used for special purposes. If the MIS is used for taking financial decisions, then that system might be called the financial management information system. This system might provide information to the top management in the finance department. This system might also analyze the history of data and based on that help them to take decisions on future projects funding requirements.
Accounting information is shared with the accounting managers through the accounting management information system. Similarly there are other MIS in an organization like, manufacturing MIS, Marketing MIS, Human Resource MIS, etc.
The manufacturing MIS might help the organization in reducing the cost of storing the inventories by providing on time inventory. To aid the marketing team in pricing, distribution, sales forecasting and other marketing functions, the marketing management information systems is used. The data provided to the marketing team would also include the competition’s data too. For all the data related to the workers and other employees of the organization, the human resource management information system is used. This would help the managers to analyze the workforce capacities and capabilities and plan for training, and other job assignments.
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