MIS is an acronym for a Management Information System. This is a system that provides information needed to manage organizations efficiently and successfully. Information is communicated to an organization’s departments where it is used to make the appropriate decisions. The distinction between a management information system and a regular information system is that the former is used to analyze other information systems applied in operational activities in the organization.
There are three primary resources that are essential to the running of a management information system. These are technology, information and people, and the last factor is widely perceived to be the most vital. They are the end users of the management information system, and it is the people who input the data, analyse it and use the end results that are outputted by the system. Software, data, hardware, procedures and a network all have an important role to play in the running of a management information system. The software provides the collection of programs that are used within the system to process data, while the data itself is the information that is inputted. Hardware can range from complex technology and machinery such as high-tech computers and handheld devices, or just something as simple and traditional as a filing cabinet. The procedures are business processes that take place for the system to carry out any specific tasks, while the network is the way in which the management information system is connected and data is transferred.
There are many advantages to having a management information system. It is easier for the company to highlight their strengths and weaknesses and the availability of customer feedback and data allows them to cater to their customer’s needs. Using an MIS to analyze revenue and sales allows an organization to make predictions about the customer’s buying behaviours and trends.
Objectives of MIS
· How is the market currently allocated?
· Which are the competitors product offer to hold share in the market?
· Pros and cons of this product
· Customer set of each of these products
· Money spent in advertising
· In what stage of the product life cycle in each product
A computer system designed to help managers plan and direct business and organizational operations.
Computer-based or manual system that transforms data into information useful in the support of decision making.
MIS can be classified as performing three functions:
(1) To generate reports-for example, financial statements, inventory status reports, or performance reports needed for routine or non-routine purposes.
(2) To answer what-if questions asked by management. For example, questions such as "What would happen to cash flow if the company changes its credit term for its customers?" can be answered by MIS. This type of MIS can be called Simulation.
(3) To support decision making. This type of MIS is appropriately called Decision Support System (DSS). DSS attempts to integrate the decision maker, the data base, and the quantitative models being used.
1. 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.
2. 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.
3. Forecast changes and impacts, either natural or man-made , as an element in vulnerability assessments.
4. 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.
Organized approach to the study of information needs of a management at every level in making operational, tactical, and strategic decisions. Its objective is to design and implement man-machine procedures, processes, and routines that provide suitably detailed reports in an accurate, consistent, and timely manner. Modern, computerized systems continuously gather relevant data, both from inside and outside the organization. This data is then processed, integrated, and stored in a centralized database (or data warehouse) where it is constantly updated and made available to all who have the authority to access it, in a form that suits their purpose.
A management information system is designed to provide information that is design for the use of diffrent types of manager
when marketing dept manager need the information about marketing dept for its operation to who it may concern where is find that manager to access that data so organization realize there should b any dept that possess all current information about all existing diffrent in organization, so that any manager of any dept can upload or access the inforamation with regarding to other diffrent
It is the short form of Management Information System. It Is a system which contains human, computer and other peripherals. It can be used to information collection, transmission, storage, processing and maintenance.
MIS is the abbreviation of Management Information Systems. It can be defined as the computer systems in organizations which are concerned with providing and structuring information and data in many organizations. MIS can also refer to people employed for the same purpose of generating, structuring and providing information at the required time. An IMS has several objectives like planning, organizing, structuring and controlling the various operations in different sections of an organization.
A good MIS contributes a lot to the success of that institution because they are responsible for helping the heads of various sections in taking decisions and undertaking various tasks fruitfully. The limitations and problems faced by organizations while developing effective MIS differ from each other because of varying reasons. While some organizations may face a problem due to financial crunches, disparity and bad working culture may be the cause of the inability in developing an efficient MIS.
Objectives of MIS
• How is the market currently allocated?
• Which are the competitors product offer to hold share in the market?
• Pros and cons of this product
• Customer set of each of these products
• Money spent in advertising
• In what stage of the product life cycle in each product
Objectives of MIS
- Present statistical findings orally to audience
- Present statistical findings in a formal, comprehendible written format
- Distinguish between descriptive and inferential statistics and their uses
- Distinguish special causes and common cause of variation
- Summarize sources of data
- Describe the types of data and scales and understand different analyses
- Explain types of samples
- How is the market currently allocated?
- Which are the competitors product offer to hold share in the market?
- Pros and cons of this product
- Customer set of each of these products
- Money spent in advertising
- In what stage of the product life cycle in each product
- Describe survey process and errors
- Organize, tabulate and graph numerical data
- Construct tables and charts for categorical data
- Create and interpret contingency tables
- Understand differences between good and bad data presentation
- Distinguish between parametric and nonparametric procedures
- State regression modeling assumptions and procedural steps
- Describe residual analysis and application
- Predict the response variable and confidence intervals
- Interpret linear multiple regression computer output
- Explain multicollinearity
- Describe types of multiple regression models and their assumptions
- Describe forecasting and distinguish from predicting
- Explain time series and its components
- Forecast using trend models
- Interpret time series computer output
- Describe total quality management
- Develop control charts for categorical and numerical variables
- Develop an intuitive feel for statistical techniques and their appropriate applications
- Appreciate the misuses of statistics
MIS is an abbreviation which stands for the phrase management information systems. The term management information systems or MIS is defined as an academic discipline which covers the application of people, technologies and procedures to the problems that are faced by a business organisation. It is collectively known as an information system.
An MIS is related to the concept of management by objectives (which is abbreviated as MBO) and is used to monitor the key performance indicators (which is abbreviated as KPI) and also helps in the processing of specific information, which is useful while making key decisions, such as the analysis of the behaviour of customers.
Management information systems require a large investment in order to be able to support a core competency. The lack of MIS could lead to rigidity in output levels.
MIS is the system which makes available the right information, in the right form. MIS is integrated user machine system for providing information to support operation, management and decision making function in an organization. MIS is defined as a system to convert data from internal and external resources into information. MIS is a system that provides information in an appropriate form to the managers at all levels, so that they can make timely and effective decisions for planning , directing and controlling all the activities for which they are responsible.
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