MANAGEMENT INFO SYSTEM
A management information system (MIS) is a system that provides information needed to manage organizations efficiently and effectively. Management information systems involve three primary resources: technology, information, and people.
It's important to recognize that while all three resources are key components when studying management information systems, the most important resource is people. Management information systems are regarded as a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy.
Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. decision support systems, expert systems, and executive information systems.
THE NEED FOR A WEB CONTENT MANAGEMENT SYSTEM (WEB CMS)
Today's businesses are overwhelmed with the need to create more content, more quickly, customised for more customers and for more media than ever before. They need to control their enterprise content and determine how to leverage their web content to address all their customer information and media needs.
Initially in businesses and other organizations, internal reporting was made manually and only periodically, as a by-product of the accounting system and with some additional statistic(s), and gave limited and delayed information on management performance. Previously, data had to be separated individually by the people as per the requirement and necessity of the organization. Later, data was distinguished from information, and so instead of the collection of mass of data, important and to the point data that is needed by the organization was stored.
The latest evolution of Information Systems is cloud computing a recent development, cloud computing lets users access data stored on a server, where they can not only see the data but also edit, save, download or upload. This along with high speed networks has led to a much more mobile view of MIS. In cloud computing the manager does not have to be at a desk to see what their employees are working on but instead can be on a laptop, tablet pc, or even Smartphone
An 'MIS' is a planned system of the collection, processing, storage and dissemination of data in the form of information needed to carry out the management functions. In a way, it is a documented report of the activities that were planned and executed. According to Philip Kotler "A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers."
The terms MIS and information system are often confused. Information systems include systems that are not intended for decision making. The area of study called MIS is sometimes referred to, in a restrictive sense, as information technology management. That area of study should not be confused with computer science. IT service management is a practitioner-focused discipline. MIS has also some differences with ERP which incorporates elements that are not necessarily focused on decision support.
The successful MIS must support a business's Five Year Plan or its equivalent. It must provide for reports based upon performance analysis in areas critical to that plan, with feedback loops that allow for titivation of every aspect of the business, including recruitment and training regimens. In effect, MIS must not only indicate how things are going, but why they are not going as well as planned where that is the case.
These reports would include performance relative to cost centers and projects that drive profit or loss, and do so in such a way that identifies individual accountability, and in virtual real-time. Any time a business is looking at implementing a new business system it is very important to use a system development method such as system development life cycle. The life cycle includes analysis, requirements, design, development, testing and implementation
ADVANTAGE OF INFORMATION MANAGMENT SYSTEMS
The following are some of the benefits that can be attained for different types of information management systems.
> The company is able to highlight their strength and weaknesses due to the presence of revenue reports, employee performance records etc. The identification of these aspects can help the company to improve their business processes and operations.
> Giving an overall picture of the company and acting as a communication and planning tool.
> The availability of the customer data and feedback can help the company to align their business processes according to the needs of the customers. The effective management of customer data can help the company to perform direct marketing and promotion activities.
> Information is considered to be an important asset for any company in the modern competitive world. The consumer buying trends and behaviors can be predicted by the analysis of sales and revenue reports from each operating region of the company.