Management information system

Management information system

1. Management Information System

2. Meaning of MIS Management Information System is a planned, organized and systematic collection of relevant accurate, precise and timely information which are properly processed and supplied to required persons economically for the purpose of achieving organized objectives

3. Definition of MIS Walter J . Kennvan defined MIS as, “a formal method of collecting timely information in a presentable form in order to facilitate effective decision making and implementation in order to carryout organizational operations for the purpose of achieving the organizational goals”

4. Features of MIS Timeliness Accuracy Consistency Completeness Relevance

5. Objectives of MIS Facilitate Decision Making Avoid duplication of work Savings of time Establish uniform procedures Fixing responsibility

6. Elements of MIS

7. System System is a functional unit, which involves set of procedures/functions to produce certain outputs by processing data/information given as input. Input Process Output

8. Areas of MIS Decision Making Planning Control

9. Importance of MIS Complexity of business operations Size of business unit Changes in economic structure Technological changes Social Changes Determination of training needs Wide use of computer

10. Factors affecting to MIS Availability Quality Quantity Timeless

11. 1. Availability Availability of information refers to more accurate relevant information. All decisions are made available information 2.Quality Quality of information describes its compactness and accuracy. Decisions are taken only out of quality of information.

12. 3. Quantity To much information cannot be processed very easily by the management within stipulated time and difficult to get accurate information. 4.Timeliness Information must be available when needed. Sometimes some important decisions can be delayed due to non-availability of unneccary information properly in time and opportunity.

13. Types of Information Operating Information Status Information Resource Information Social Information Planning and Control Information

14. Contd : 6. Govt. Information 7. Social Information 8. Economic Information 9. Technology Information 10. Complete Information

15. Designing the MIS Supplies complete, accurate and timely data Identify and quantify inter related operations Measures and control the performance Identify needs of decentralized organization Information in summarized form Flexibility

16. Process of MIS Assembling Processing Analyzing Storage and retrieval Information is summarized form Flexibility

17. 1.Assembing It means finding and collection of data and recorded in a set of files. The well defined sources of information facilitates the collection of data. 2.Processing It means that the data has been summarized ,edited and proceed. During editing irrelevant and inaccurate data have been eliminated from the records

18. 3.Analsing Data has been analyzed to develop or calculate percentages and ratios are providing useful information to the decision maker. 4.Storage and Retrieval Indexing, coding, filing and location of information are coming under the process of storage. Provisions have been made to quick relocation of such information and retrieval when it is necessary.

19. 5.Evaluation The determinations of usefulness of information in terms of accuracy, precise and relevance. The degree of accuracy, precise and reliance is based upon the needs of the decision maker. 6. Dissemination It means supplying the required information in the specified format at the right time to the decision maker

20. Advantage of MIS It improves personal efficiency. It expedites problem solving(speed up the progress of problems solving in an organization). It facilitates interpersonal communication It promotes learning or training. It increases organizational control .

21. It generates new evidence in support of a decision. It creates a competitive advantage over competition. It encourages exploration and discovery on the part of the decision maker. It reveals new approaches to thinking about the problem space. It helps automate the Managerial processes .

22. Outputs Of a MIS Scheduled reports which are produced periodically, or on a Schedule (daily, weekly, monthly). Key-indicator report which summarizes the previous day’s critical activities and also it is typically available at the beginning of each day.

23. Demand report which gives certain information at a manager’s request. Exception report which is automatically produced when a situation is unusual or requires management action.

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