PRATHAM(220617004)_MIStt Assignment.pptx

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1. Assignment: Understanding and Implementing Management Information Systems (MIS) By :- Pratham (220617004) Course :- BBA(Analytics) Sem :- 3rd

2. Q1-Describe the current state of the business's data management and decision-making processes. Identify specific areas where an MIS could be beneficial. Current state of business’s DATA MANAGEMENT – Business Data Management is a rapidly evolving field, and the current state of it is shaped by the ongoing pandemic and the shift to remote work. According to a Forbes article, the pandemic has created monumental shifts in daily life, making all of us reevaluate almost every aspect of our work and home lives. As individuals and businesses globally shifted wholesale to remote work and isolation, every organization quickly found out how ready (or not) they were to maintain operations, empower employees and deliver consistent service. For businesses primarily based on personal interaction and movement (retail, travel, hospitality), the challenges were multidimensional and required a complete reimagining of their business and service delivery models. The remainder of the business world was also immediately tested. Companies with a strong preparedness plan, hardened endpoint security and an established cloud data strategy pivoted quickly.

3. DECISION MAKING PROCESS Many companies train their managers to make decisions using a structured decision-making process. While these processes vary slightly from organization to organization, a basic seven-step process is common: Identify the problem. Gather data related to the problem. Identify possible solutions to the problem. Consider pros and cons of each solution.  Choose the solution that minimizes risks while increasing benefits. Execute your plan, adjusting as needed.  Review the effectiveness of your plan to help inform future decisions.

4. S pecific areas where an MIS could be beneficial. Reveals more data about customers: The more the data about the requirements about the customers, management is better able to improve customer service and can think more effective marketing and promotional campaigns. Helps to achieve a higher level of efficiency: The managers who manage their team or the whole organization they usually have to identify organizations’ strengths and weaknesses. Improves the quality of decisions: Managers could make more rational decisions based on raw and reliable information based on the data they have. Promotes better communications between departments in an organization: When everyone in the company shares the same information, then the scope is they have better communication between them due to which they can identify problem areas and they can sort it out. Improves employee productivity: Employees save their productivity time as they don’t have to gather the data asked by management Strengthens a company’s competitive advantage: By removing all weaknesses and non-performing areas boosts the company’s competitiveness over its rivals.

5. Q2- Explain how you would go about selecting an MIS for the business. Outline the steps you would take to implement the chosen MIS, including data migration and staff training. Choosing the best MIS for your business depends on several factors, such as :- Your business goals and objectives; Your information needs and requirements; Your available resources and capabilities; Your external environment and competition. Some general tips to help you choose the best MIS for your business are :- Define your information needs and requirements clearly and prioritize them according to their importance and urgency. Assess your current information systems and identify their strengths and weaknesses, as well as the gaps and opportunities for improvement. Evaluate the different types of MIS available in the market and compare their features, benefits ,  costs and risks. Select the type of MIS that best suits your information needs and requirements, as well as your available resources and capabilities. Implement the selected MIS in a systematic and effective way, involving all the relevant stakeholders and users in the process.

6. The steps I would take to implement the MIS successfully, including data migration and staff training. Implementing MIS successfully requires careful planning, execution and evaluation. Some general steps to help you implement MIS successfully are: Define the scope, objectives, deliverables and timeline of the project. Form a project team with clear roles and responsibilities for each member. Conduct a feasibility study to analyze the technical, economic, social and legal aspects of the project. Design the system architecture, data model, user interface, security features and testing procedures of the system. Develop the system software, hardware, database, network and documentation of the system. Test the system functionality, reliability, usability and compatibility of the system. Deploy the system in the operational environment and train the users on how to use it. Maintain the system performance, availability, security and quality of the system. The data will be migrated over from your current system into the new one, usually ahead of training. This means that when users begin to learn the new system, they are working with real data, giving context to the experience and enhancing the learning process.

7. Q3.- Discuss the importance of data security and privacy when implementing an MIS. Suggest measures and policies to ensure the protection of sensitive information. Importance of data security and privacy when implementing an MIS is- Data security and data privacy both involve protecting data, but they are different. Data security entails controlling access to data using stark, black-and-white terms. For example, a data security policy may dictate that no one other than someone troubleshooting a database issue is allowed to see customer payment information—period. In that way, you reduce your chances of suffering a data security breach. Data privacy, on the other hand, involves more subtle, strategic decisions around who gets access to certain kinds of data. Using the same example, another organization may say, “Well, it may help the development team to know if a lot of customers have been paying using PayPal. Then they could decide whether it would be wise to start accepting Payoneer , Skrill, or Stripe, too. Let’s give them access to payment info for the next two weeks.” When it comes to data security in  cloud computing  or on-premises environments, these kinds of decisions fall more under the purview of data privacy.

8. M easures and policies to ensure the protection of sensitive information :- Identifying, classifying, and managing the unstructured data in possession of the organization. Encrypting your data. Using a password manager. Backing up your data. Ensuring the security of physical records and devices. Using a VPN on public Wi-Fi. Always staying up to date. Data protection regulations require, at a minimum, encryption, a firewall, and anti-malware protection

9. Q4- A) Describe how you would monitor the MIS's performance and effectiveness after implementation. Evaluation of MIS is a process in which the performance and effectiveness of an organizational   MIS   is determined. According to the performance results and effectiveness, the organization evaluates and implements the necessary modifications in MIS. Various terms related to the evaluation of MIS are :- Evaluation approaches Evaluation classes Product-based MIS evaluation Cost/benefit-based evaluation

10. 1) Evaluation Approaches Various approaches are used to evaluate the organizational MIS performance. The most common approaches are, Quality Assurance Review : The quality assurance review is also known as a technical review. It determines the technical quality performance of MIS. The quality assurance review determines the data transmission rate, main or secondary storage, and CPU capacity. Reliability and Accuracy : Reliability and accuracy is a key indicator of measuring the performance of an MIS. The usefulness of the resulting information is usually determined by the precision of the data, it uses some parameters to find reliability and accuracy. Timeliness of Information : The results of MIS must be recent. And when evaluating patterns, management must make assumptions about the organization's future, based on MIS data. A more recent on MIS, decision making always reflects on current reality and correctly predict their impact on the business. If the data collection and processing delay its availability, the MIS must take into account its potential age-related inaccuracies and present the resulting information accordingly, with probable error ranges. 2) Evaluation Classes To evaluate the performance of MIS, the following two classes are used, Effectiveness : The effectiveness class determines the quality of the MIS output. MIS is effective if the quality of its output is good and the process of producing output is right. Efficiency : The efficiency class specifies the total amount of resources required by MIS to obtain the output. Completeness of Information : For a specific decision, a successful MIS provides all the most important and valuable information completely. If any information is not available due to missing data, the gaps are highlighted and potential possibilities are either shown or possible implications arising from missing data are addressed. The relationship between effectiveness and efficiency can be defined as effectiveness is a measure of the quality of an MIS output, while efficiency is a measure of the resources required to achieve the output. 

11. 3) Product-based MIS evaluation The product-based MIS evaluation is also known as effectiveness evaluation. Determines the effectiveness of an MIS output. For assessing the effectiveness of MIS output, a model structure may be used. Model Structure : A model structure is a structure that contains various information attributes such as timeliness and relevance. To determine the MIS effectiveness in an organization, we need to determine the information attributes for the MIS output. Some of commonly used attributes are, Timeliness : Real-time information may be called information that is evaluated in a very short period. Relevance : Questions such as timeliness, authority or novelty of the outcome may include significance. Accuracy : The accuracy of information or measurements is their consistency, even in small details, of being accurate or correct. Completeness : Completeness' refers to how comprehensive the data is. Adequacy : The ability to obtain the information required for decision making in a timely and reliable manner. Explicitness : The degree to which the MIS is consistent with the particular organization. Exception-based : MIS should be built based on the exception-based reporting concept, which implies an irregular condition where the maximum, minimum, or predicted values differ outside the limits. Exception reporting should be given to the decision-maker at the appropriate level in such cases. 4) Cost/benefit-based evaluation Cost-based evaluation of the MIS system determines the benefits expected from the developed system. Different approaches are used to measure the cost and evaluate the various benefits to organizations. The approaches of cost-benefit analysis are used to find out the feasible solution. The benefits to be expected from the system and expected benefits are carried out in the cost/benefit calculation of the different expected costs. The measurement of cost/benefit decides the system's cost-effectiveness.

12. B) Explain how you would gather feedback from users and make necessary adjustments. 1. Ask: Invite feedback from your users The first step in a powerful user feedback strategy is to invite feedback. Ideally, that means you  ask  for it. How you do that can vary widely depending on your business and product. Three of the big decisions are  what  to ask for,  when  to ask for feedback, and  how  to ask for it. Decide what feedback to ask for Some of the most common types of feedback you may want are: Feature requests and product suggestions (these are critical) Customer experience data Customer satisfaction scores User analytics

13. Decide when to ask for feedback You can collect customer feedback at pretty much any stage of the customer journey: Before customers sign up for your free trial After new customers sign up for the trial During onboarding After conversion from trial to paid As they use your app While they’re testing a beta version of a new feature Or when they cancel your service Asking for feedback at each of those points gives you different kinds of information that you can use in different . Decide how to ask for feedback Your next decision is the  how.  Some options include: Informal interviews Focus groups Customer satisfaction surveys (CSAT, NPS, CES, etc ) Website and in-app widgets Feature voting boards Online reviews

14. 2. Centralize your feedback Now that feedback is coming in, you need a place to put it. If you’re a brand new startup or you get relatively little feedback, you could probably get away with using spreadsheets or a  Trello board to keep track of your feedback   and feature requests. But that’s if you’ve got a good flow of feedback coming in, you’ll probably want a purpose-built feature request app tool. Note that the tool you choose should be able to easily pull in feedback from any source so that all your customer-facing teams—Sales, Customer Success, your help desk, and Product—can use it without switching tools. For example, you may need it to: Connect to your Intercom, Help Scout, Zendesk, or other customer support tool Connect to HubSpot CRM or Salesforce so your  Sales team can easily submit feedback Accept  feedback via email Bring in responses from feedback surveys Receive feedback from a form on your website Permit customers to upvote features on a voting board In other words, think about all the sources where you receive feedback, and make sure your customer feedback management tool can connect to them and automate feedback collection.

15. 3. Prioritize your feedback: Categorize, filter, sort, and analyze Your feedback is in one place. Now you have to use it to inform your product roadmap and strategy. We’ve written a guide on  how product managers can prioritize feature requests , and that’s still our best model for how to make sense of a big pile of requests. Briefly, what that looks like is: Clarify your business goals.  Are you most interested in increasing acquisition? Retention? Expansion? Think about what your focus is. Filter for feedback.  Now look for what matters to relevant customer segments. For instance, if you’re trying to reduce churn, figure out what features your churned customers wanted. Prioritize.  With clarity around the features that matter to your customers, figure out what goes on the product roadmap. Here’s where you take into account strategic alignment, effort, development resources, and so on. By the end of this step, you should have a good idea of what you’re going to build and how it will contribute to accomplishing your business goals.

16. 4. Act on your feedback: Build features customers ask for With new features that your customers have requested on your product roadmap, you just need to build. At this stage, you sometimes run into some pushback from your team members or stakeholders—execs, the Dev team, and so on. Luckily, feedback comes in handy here, too. If your feedback has been carefully collected and analyzed, it’s easy to use it to justify new product and business decisions. Show it to your executives or your Dev team and use it to explain what your customers want. You can even provide links to your feedback data so your teams can see for themselves what your customers are asking for.

17. 5. Follow up: Tell your customers when you listen to them The next part is very simple, but so many people forget it:  close the feedback loop  with your customers when you build a feature they asked for. And here we’re talking about sending a  personal  email directly to each customer that asked for a feature. Of course, you should do the other communications pieces too: send out a general email to users, write a blog post about the new functionality, update your change log, and so on. But also, make an effort to connect  individually  with all the people that asked for a feature that you built. This is called closing the customer feedback loop. Your message can be super simple. Just note that you built a feature they asked for, show them where they can learn more about using it, and then thank them for the feedback—and encourage them to give more.