Meaning of Management Information System in Business World

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As a consumer, you have instant access to millions of pieces of data. With a few clicks of the mouse button, you can find anything from current stock prices and video clips of current movies. You can get product descriptions, pictures and prices from thousands of companies across India and around the world.
As a consumer, you have instant access to millions of pieces of data. With a few clicks of the mouse button, you can find anything from current stock prices and video clips of current movies. You can get product descriptions, pictures and prices from thousands of companies across India and around the world. Trying to sell services and products? You can purchase demographic, economic, consumer buying pattern and market analysis data. Your firm will have internal financial, marketing production and employee data for past years. This tremendous amount of data provides opportunities to managers and consumers who know how to obtain it and analyse it to be make better decisions.

The speed with which Information Technology (IT) and Information Systems (IS) are changing our lives is amazing. Only 50 years ago communication was almost limited to the telephone, the first word processors came out in the mid-sixties and the fax entered our offices in the 1970’s. Today information systems are everywhere; from supermarkets to airline reservations, libraries and banking operations they have become part of our daily lives.

Management Information System in Business World

The concept of the Management Information System (MIS) has involved over a period of time compassing many different facets of the organisational function. MIS is a necessity of all the organisations. The initial concept of MIS was to processed data from the organisation and presents it the form of reports at regular intervals. The system was largely capable of handling of the data from collection to processing. It was more impersonal, required each individual to pick and choose the processed data and sue it for his requirements. This concept was further modified when a distinction was made between data and information. The information is a product of an analysis of data. This concept is similar to a raw material and finished product. What are needed are information and not a mass of data. However, the data can be analysed in a number of ways, producing different shades and specifications of the information as a product. It was, therefore, demanded that the system concept be an individual-oriented, as each individual may have a different orientation. Towards the information this concept was further modified, that the system should present information in such a form and format that it creates an impact on its user, providing a decision or an investigation.    

The MIS is a product of a multi- disciplinary approach to the business management. It is a product which needs to be kept under a constant review and modification to meet the corporate needs of the information. It is a product which needs to be kept under a constant review and modification to meet the corporate needs of the information. It is prescribed product design for the organisation. The MIS differs since the people on two organisations involved in the same business. The MIS for the people in the organisation. The MIS model may be the same but it differs greatly in the contents.
The MIS, therefore, is a dynamic concept subject to change, time and again, with a change in the business management process. It continuously interacts with the internal and the external environment of the business and provides a corrective mechanism in the system so the change needs of information are with effectively. The MIS, therefore, is a dynamic design, the primary objective of which is to the information the information for decision making objective of which is to the organisational fabric, giving, giving due to the people in the organisational the management functions and the managerial control.
Design by Mohit Bhardwaj

MOHIT BHARDWAJ

Hello Visitors, myself Mohit Bhardwaj working in blogging sector since last 8 years. my qualification in bachelor degree in computer science steam. contact Number: 80910-51002

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