Management incorporates management of information as well. Today’s complex businesses generate a lot of information that need to be analyzed and collated in proper forms so as to make planning, auditing, organization and decision making more systematized. Management Information Systems (MIS) are systems incorporating all the information channels within an organization. The system(s) collects data, organizes and collates them, analyzes and interprets them, so as to enable the decision makers and managers to access and understand all information. This helps in decision making, program implementation, and planning and forecasting. The management information system is an organization level system involving all channels and media as well as all the interfaces of communication and information generation, and would include all analog and digital, software and hardware resources. As an academic discipline, it straddles commerce and administration, and collaborates closely with Information Technology management, a hybrid-discipline between computers and information management.
MIS helps primarily in two areas: as a functional support tool and as a decision support role. Through such processes of storing and recording of data, control and management of data, etc, it provides support in the organizational functions. Through analysis and adoption of numerous theoretical tools, it enables decision makers to make decisions, change plans, scheme forecasts and future plans. MIS also helps in strategic support as well as in performance monitoring. The incorporation of management information systems helps boost performance, increase efficiency, reduce errors and plan for the future, and as such are tremendously helpful to all business with any level of organizational complexity.
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