Management Information Systems:
With the increasing competition from domestic as well as foreign players, business organizations and their information needs have undergone a significant change. Organizations are increasingly using Information Technology (IT) to capture and disseminate information and enhance the performance of the business. This may involve improvements in the efficiency of operations, in the quality of management processes, and even in the way the business is conducted or organized.
Transaction processing is one of the fundamental activities of every organization. Although an information system has a very important role to play in supporting management, ensuring control, and undertaking other knowledge work, such an emphasis should in no way obscure its importance in transaction processing. Beyond such operational level processing of data, information systems have specific applications in the various functions of an organization like marketing, manufacturing, human resources, accounting, finance, etc.
Marketing information systems support the marketing function like sales planning, advertising & promotion, and market research. Manufacturing information systems support the production or operations function, which includes the planning and control of processes by which goods and services are produced or delivered. Human resources information systems help in keeping track of the details of all employees working in the organization as well those of new applicants. Accounting information systems record and report the flow of funds and help produce financial statements such as balance sheets and income statements. Financial information systems help in allocating and controlling the financial resources within a business.
Management Information System (MIS) is a management support system that facilitates day to day operations in an organization. MIS makes use of computer-based systems for converting data into information. These systems can be classified into strategic, tactical, and operational information systems based on the nature of the information and the decision structure. MIS supports structured decision making, i.e. those decisions which can be described in detail.
Decision Support Systems (DSS) are information systems that help the managers in decision-making. DSS are developed using analytical models, specialized databases, and the knowledge and experience of decision makers. DSS generally support decisions that are unstructured or semi-structured, i.e. those decisions that cannot be described or can be described only partially.
Executive Information Systems (EIS) active online access to related information (related to the external environment) to the top management in a comprehensible format. These systems gives accurate, timely, and relevant information to the management. The basic need of an EIS is to help executives learn about the organization, its work processes, and its interaction with the external environment. These process mostly help the top management in taking unstructured decisions.
Online Analytical Processing, popularly known as OLAP, is used for analyzing data stored in the database. OLAP includes data marts, data warehouses, data mining, and multidimensional databases.
Information systems are used by business organizations in order to achieve strategic advantage .Some of these advantages are: improving business processes, reengineering the business processes, becoming an agile competitor, creating virtual companies, and knowledge management.
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