Management Information System

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Definition: Management Information System

Management Information System provides the information required for the strategic management of an organization that is required to manage itself efficiently and effectively. Simply put, it is the study of people, data, information and technology within the organization and the relationship among them.

The five core components of MIS are

i) Hardware

ii) Software

iii) Data

iv) Procedures required to manage them

v) People to manage them.

It is a central or centrally controlled and coordinated system of information systems expertise and management. MIS not only provides data and information but also analyzes them to facilitate strategic and operational decision making. The term MIS is today used in different contexts and typically includes decision support system, executive information system, human resource management, enterprise resource planning, supply chain management, customer relationship management and project management.

The MIS normally provides reports that include

i) Periodic scheduled reports

ii) Exception Reports

iii) Demand Reports and Responses and

iv) Demand forecasts and inventory status reports etc.

The role of the Management Information System manager is to control the organization’s information and technology systems and the department that is responsible for MIS is called the MIS department. The main advantages of Management Information Systems include

  • Provide fixed and regularly scheduled reports from the data extracted and analyzed from the company’s transaction processing systems that facilitate in rapid decision making for the middle and operational managers
  • Companies can identify the bottlenecks that need immediate attention and strengths that they can capitalize on to increase their market share
  • The customer data and feedback enable companies to identify changes in the consumer behavior and perception and align their business processes with customer needs

Management information system can also be a source of competitive advantage over its competitors.

Hence, this concludes the definition of Management Information System along with its overview.

Browse the definition and meaning of more terms similar to Management Information System. The Management Dictionary covers over 7000 business concepts from 6 categories. This definition and concept has been researched & authored by our Business Concepts Team members.

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