​အောက်ဆုံးထိ ဆွဲကြည့်​​ပေးကြပါ ခင်ဗျာ

The board data frameworks work with a company’s day to day tasks. It can be found in any organization. Information systems significantly simplify record keeping. The essential job of a data framework is to improve on work process; it saves the significant investment of representatives.

Data is crucial for every business. In the internet era, firms are bombarded with too much data, not just relevant data. Firms collect data in files, documents, cloud storage, hard copies, and soft copy formats. Primarily the MIS stores data in a secure manner. For example, a bank maintains records of account deposits, withdrawals, and customer details.

Key Takeaways

  • A management information system is a database that facilitates day-to-day business activities. Primarily, information systems increase efficiency by reducing employee effort.
  • An MIS is present in every organization to collect, record, and track information.
  • The biggest hurdle with an information system is employee training. In addition, the system needs maintenance.
  • Despite the benefits, not all firms can afford an advanced information system. Sometimes, due to MIS, work becomes too easy for the employees, and their growth stagnates.

Management Information System (MIS) Explained

A management information system (MIS) is used for processing data. In an institution, employees, managers, and staff access MIS. Employees use MIS for day-to-day operations, to print invoices, bill payments, or performance reviews. In addition, they use MIS to compare, analyze, and store data—a database for information. Thus, MIS helps firms in taking decisions rapidly and accurately.

Initially, employees are given MIS training—MIS interface, usage, and importance. Then, in some firms, training is given to customers and clients who use the system instead of employees.

The term ‘information system’ is often misunderstood. There is a misconception that MIS is all about coding and computer technology. Practically though, MIS is more than a code. In many scenarios, information systems do not require any code. MIS is more to do with data analysis. Fundamentally, an information system is a common framework that increases the productivity of all firm employees.

Management Information System Components

The management information system comprises the following components.

#1 – Data

Data is crucial for every business. Unfortunately, in the internet era, firms are bombarded with too much data, not just relevant data. Firms collect data in files, documents, cloud storage, hard copies, and soft copy formats.

Primarily the MIS stores data in a secure manner. For example, a bank maintains records of account deposits, withdrawals, and customer details.

#2 – People

An MIS is designed to be used by firm employees. managers, accountants, executives, and staff for day-to-day operations. Ideally, the MIS should be customized based on the firm needs. The MIS features should suit common usage.

#3 – Business Processes

Information systems simplify complex processes—the centralization of operations achieves this.

#4 – Hardware

Hardware is an indispensable component of MIS. Every system runs on a device, but the processing capabilities vary.

#5 – Software

MIS software is categorized into two—system software and application software. The term system software refers to operating systems like windows and iOS. Application software is more specific—banking systems, accounting applications, payroll applications, etc.

Requirements

The requirements of MIS are as follows.

  • Every MIS requires a database that stores information, documents, files, and reports. This could be employee details, performance reviews, records, old presentations, and new projects.
  • For installing an information system, firms need to make an Initial expenditure. Further, the MIS requires timely maintenance and employee training.
  • Information systems are useful when employees use them regularly. For that, employees need access, and the system should be maintained.
  • Business operations and firms evolve, and the MIS needs to keep up. Therefore, information systems need updating. In some cases, firms may need additional hardware and new software applications.

Role

The MIS plays the following roles.

  • MIS stores data and records vital information.
  • Firm employees use MIS software to complete daily operations and administrative tasks. Therefore, MIS should increase employee efficiency.
  • Larger firms use automation and data generation to conserve employees’ time and energy. But those systems can be expensive.
  • Again. The success of a system depends more on users than the software or hardware. Unfortunately, MIS training is often overlooked.
  • An information system is beneficial in strategizing, analysis, and performance comparison.

Reference: wallstreetmojo.com