Need and Importance of Management Information System (MIS)

What is MIS?

MIS stands for Management Information System. Managers at all levels of an organization rely on reports generated from these systems. This system helps them evaluate their business’ daily activities or problem-solving, decision-making, and track progress. MIS reporting is used by businesses of all sizes and in every industry.

Why MIS?

A manager has to take decisions with two main challenges:

First, a manager has to take quick decisions, or else there’s a chance of the business being taken over by his competitors. The liberalization and globalization, in which organizations are required to compete globally, has further enhanced the necessity for such a system.

Second, information is doubling up every two or three years, a manager has to process a large voluminous data; failing which he may end up taking a strong decision that may prove to be very costly to the company.

Hence, Management Information System has proved to be the one of the most important in today’s business environment.

Important roles of the MIS:

  • MIS satisfies the diverse needs through a variety of systems such as Query System, Analysis System, Modelling System and Decision Support System.
  • It helps in strategic planning, management control, operational control and transaction processing.
  •  It helps in the clerical transaction processing.
  •  It answers the queries on the data pertaining to the transaction, the status of a particular record and reference on a variety of documents.
  • MIS for Junior Management: Providing the operational data for planning, scheduling and control, and helps them further in decision-making at the operation level to correct an out of control situation.
  • MIS for Middle Management: In short-term planning, target setting and controlling the business functions which is supported by the use of the management tools of planning and control.
  • MIS for Top- Level Management: in goal setting, strategic planning and evolving the business plans and their implementation.
  • It plays the role of information generation, communication, problem identification and helps in the process of decision-making.

In conclusion, organizations today just cannot survive and grow without properly planned, implemented and maintained MIS.

MyReport is one of the few MIS tools which collaborates ETL as well as the Reporting tool. The free-flowing connectivity with the databases makes MyReport an integral asset while working on your data; Native Drivers are especially dedicated to connecting your most commonly used databases!

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