Describe the functions that MIS supports in an organization. What are the various ways of assessing the value of information? Explain each method briefly.
Management Information Systems (MIS) is the term given to the discipline focused on the integration of computer systems with the aims and objectives on an organization. The development and management of information technology tools assists executives and the general workforce in performing any tasks related to the processing of information. MIS and business systems are especially useful in the collation of business data and the production of reports to be used as tools for decision making.
Applications of MIS
With computers being as ubiquitous as they are today, there's hardly any large business that does not rely extensively on their IT systems.
However, there are several specific fields in which MIS has become invaluable.
* Strategy Support
While computers cannot create business strategies by themselves they can assist management in understanding the effects of their strategies, and help enable effective decision-making.MIS systems can be used to transform data into information useful for decision making. Computers can provide financial statements and performance reports to assist in the planning, monitoring and implementation of strategy.MIS systems provide a valuable function in that they can collate into coherent reports unmanageable volumes of data that would otherwise be broadly useless to decision makers. By studying these reports decision-makers can identify patterns and trends that would have remained unseen if the raw data were
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