What is an MIS system?
A management information system (MIS) is a system for collecting, storing, processing, organising and analysing business data and turning them into actionable intelligence.
What are the benefits of an MIS?
- It allows real-time performance reports.
- It generates analytical reports.
- It compares projections and performances.
- It aids the work allocation process.
- It improves internal communication.
- Transaction processing system.
- Decision support system.
- Executive information system.
It allows real-time performance reports
Its employees may be able to discover and respond to opportunities more quickly.
It generates analytical reports
The organisation’s management can monitor its performance and identify new business opportunities.
It compares projections and performances
Organisations regularly set business goals and make business and financial forecasts.
It aids the work allocation process
The organisation’s management can make better decisions concerning the allocation of staff and resources.
It improves internal communication
It can facilitate communication between different employees and departments of the organisation.
Transaction processing system
A transaction process system is invaluable for collecting, storing, modifying and retrieving large amounts of business transactional data.
Decision support system
A decision support system is a type of business intelligence system that collects valuable industry information from surveys, research studies, user behaviour analyses and other resources.
Executive information system
The top executives and managers in an organisation use an executive information system to view existing data stored in a database and internal and external data relevant for executive decision-making.