Management Information Systems: the essence of management lies in decision making. Effective managers make timely and well informed decisions. Without decisions being well informed, they will lack in effectiveness. Without decisions being timely, nothing will get done. However, it can often be struggle to combine these two contradicting factors appropriately.
In many cases a Management Information System (MIS) is the solution to this struggle of decision making priorities. A MIS is a computer system (hardware/software) within a business that serves many functions, including the distribution of timely and accurate information to assist in the planning, control, and operational aspects of running a business.
A Management Information System can achieve all of this by processing raw data (structured and unstructured) into useable information. It gives managers access to all the resources they need in order to make extremely well informed decisions.
Management Information Systems Aren’t Limited to Catering Information to Managers
In their most essential/true form MISs have an information knowledge base to analyze both internal and external warning signs, automate some very routine processing tasks, coordinate between departments effectively/efficiently, give access to dependable references and needed data/documents, and help discover/exploit competitive advantages. In addition to providing managers with the necessary resources to make well informed routine and non-routine decisions.
But Information Presentation is What a MIS does Best
Management Information Systems collect various types of structured and unstructured data and present it to managers in way that is easy to understand. This is used to assist managers in their decision making process. Examples of information presented: comparative sales figures, new product sales assumptions, daily or projected revenues/expenses, and consequences of decision alternatives (what has and hasn’t worked in the past).
Do More, Better
With the help of a Management Information System, any corporation, large or small, can achieve more, because a MIS allows managers and employees to get work done and make more timely and effective decisions.