The full form of MIS is Management information systems. The management information system is a computer-based system that includes both hardware and software that is used to serve as the backbone of an organization’s operations.
This management information system collects data and information from different online systems, analyse that information and reports this data to the management decision-making process. The management information system is also called the study of how other systems work because it analyses the processes of other operations.
MIS improved decision making
The management information systems are mainly used to improve decision making by analysing the past data. Management information systems surely help to improve the decision making by providing updated and accurate data and information on different assets of an organization such as –
- Inventory
- Project timeliness
- Real estate
- Finance
- Personnel
- Marketing
- Raw materials
- HR
- R and D
- Manufacturing
The managers who want to analyse the data by reports use the collected and stored data by management information systems available to them.
This way these management information systems help to correlate various data points to create strategies to improve the decision and operations involved. For instance, MIS helps to compare sales of the present month with the past year and this can lead to better decisions in that section to boost revenue.
MIS downfalls
The management information system is a great way to compile data to make comparisons and make better decisions.
MIS is a lot helpful to run reports that include all kind of disparate data points. However such features of MIS cost more money.
It is expensive to implement such features in a Management information system. MIS is expensive because it contains the cost of hardware and software and also the integration of MIS with other existing systems.
MIS is not just a system learned easily so the cost of a Management information system also includes training of all the employees who use MIS for making decisions and understanding the data reports.
MIS FAQs
What is the monthly MIS report?
A monthly MIS report or just MIS report is a report of the assessment of performances of a particular organization. The management section of a company requires these management reports to assess the performance and then make a better decision. It has become crucial for organizations to use such MIS automated systems to make better decisions by analysing these MIS reports.
What is the purpose of MIS?
The main purpose of using management information systems is to get all the information and data of all the assets and sections in an organization. This management information is used to boost the revenue of the company by making a better decision.
What is MIS reports in Excel?
The MIS reports are reports that are generated from a Management information system. These reports can be generated in an Excel form.
What is the qualification for an MIS executive?
These are required qualification of MIS executives –
Candidates are required to have a bachelor’s degree in computer science or Information technology.
Practice experience for different software applications.
A Master’s degree is preferred for MIS executive.
What are the main types of management information systems MIS?
The most common known five types of Management information systems are –
- Human resource management systems
- Process control systems
- Sales and marketing systems
- Office automation systems
- Inventory control systems
- Enterprise resource planning systems
- Management reporting systems
- Finance and accounting MIS
What are the types of MIS reports?
There can be multiple types of performance reports generated from the Management information system. These are types of MIS reports –
- The summary reports
- The exception reports
- On-demand reports
- The trend reports
- Financial reports
- Inventory reports
- Budget reports
- Sales reports
What are examples of MIS?
These are some most used management information system software –
- Microsoft Dynamics
- Clarity professional MIS
- Tharstern limited
- Fleetmatics WORK
There are some other famous Management information systems specially made for the graphics and print industry such as –
- EFI Pace
- DDS Accura
- Avanti Slingshot
What is MIS in the post office?
In the post office, MIS stands for monthly income scheme.
MIS other famous full forms-
MIS- Miscellaneous (Other)- often used in English writing
MIS- Medical Imaging System- in Medical
MIS- Managed Internet Service- in computing and in Internet
MIS- Most Important Story- in News and Media
