Information System

Outputs Of a MIS

• Scheduled reports which are produced periodically, or on a Schedule (daily, weekly, monthly).
• Key-indicator report which summarizes the previous day’s critical activities and also it is typically available at the beginning of each day.

Outputs Of a MIS

• Demand report which gives certain information at a manager’s request.
• Exception report which is automatically produced when a situation is unusual or requires management action.

Benefits of MIS

• It improves personal efficiency.
• It expedites problem solving(speed up the progress of problems solving in an organization).
• It facilitates interpersonal communication
• It promotes learning or training.
• It increases organizational control.
• It generates new evidence in support of a decision.
• It creates a competitive advantage over competition.
• It encourages exploration and discovery on the part of the decision maker.
• It reveals new approaches to thinking about the problem space.
• It helps automate the Managerial processes.

Component of Management IS

• To effectively deliver the information needed to decision makers, Management Information Systems need to have the necessary components to collect, process, store and retrieve the information whenever it is needed.
• To achieve this, these systems use the following four components:
• Information System. This is a combination of software, hardware, personnel and infrastructure. This component helps in the collection of data that is stored in the MIS. The hardware includes computers, scanners, printers and network devices. The software elements include the company’s enterprise software and any other software that is used in the running of the company’s network. This component makes it possible for employees to interact with the system and thus information can be collected

• Database Management System. This component is primarily made up of computer programs that help in the storage and retrieval of data. Of course, it also includes the actual physical databases where the information is stored after it has been captured. There are several different database management systems that can be used in Management Information Systems. The suitability of the systems will depend on the amount of data that will need to be processed and stored in the system. There are small database management systems that can comfortably work on personal computers and there are huge ones that will need larger and more complex machines like mainframe computers. Learn more about database technologies.

• Intelligence System. This component is concerned with processing of the data collected and presenting it in a manner that is easy to comprehend. Everything from the processing of the data to the displaying of the data is designed to give top executives an easy time as they try to make decisions concerning the business. It is sometimes referred to as business intelligence which stores human knowledge and uses the logic to formulate quick solutions for future problems where patterns match.
• Research System. This component is concerned with identifying the main management problems in the organization and coming up with alternative decisions that could have sufficed in a particular situation. This helps ensure that all the possible options are analyzed and the best decision made. The best decision is not always the most obvious one. This component of Management Information systems ensures that the best decision is reached even in those instances.