Management Information System

MIS• Management Information System is an

information system that evaluates, analyzes and processes an organization's data to produce meaningful and useful information on which the management will take right decision to ensure future growth of the organization.

Data and Information

• Data: Data is raw, unorganized facts that need to be processed. Data can be something simple and seemingly random and useless until it is organized.

• Information: When data is processed, organized, structured or presented in a given context, to make it useful then it is called information.

• Example: Each student's test score is one piece of data. The average score of a class or of the entire school is information that can be derived from the given data.

Data Vs Information

Information System• An Information System is a system that gathers data

and disseminates information with the sole purpose of providing necessary information to its user.

Components of Information SystemsThe main components of information systems are

• Computer hardware

• Software

• Telecommunications

• Databases and data warehouses

• Human resources

• Procedures

Major Enterprise Applications

• Enterprise Resource Planning (ERP)

• Customer Relationship Management (CRM)

• Decision Support System (DSS)

• Business Intelligence System (BIS)

• Supply Chain Management (SCM)

Enterprise Resource Planning (ERP)

• Enterprise systems, also known as enterpriseresource planning (ERP) systems, provide a singleinformation system for organization-widecoordination and integration of key businessprocesses.

• Information that was previously fragmented indifferent systems can seamlessly flow throughoutthe firm so that it can be shared by businessprocesses in manufacturing, accounting, humanresources, and other areas.

ERP

Customer Relationship Management(CRM)

• CRM is an enterprise application module that manages a company's interactions with current and future customers by organizing and coordinating sales and marketing, providing better customer services along with technical support.

Scope of CRM

Need for CRM• To keep track of all present and future customers

• To identify and target the best customers

• To let the customers know about the existing new products and services

• To provide real-time and personalized services based on the needs, wants and habits of the existing customers

• To provide superior service and consistent customer experience

• To implement a feed-back system

Decision Support System (DSS)• Decision support systems are interactive software-based systems

intended to help managers in decision making by accessing large volume of information generated from various related information systems.

Characteristics of a DSS• Support for decision makers in semi structured and unstructured

problems.• Support for managers at various managerial levels, ranging from

top executive to line managers.• Support for individuals and groups. Less structured problems

often requires the involvement of several individuals from different departments and organization level.

• Support for interdependent or sequential decisions.• Support for intelligence, design, choice, and implementation.• Support for variety of decision processes and styles• DSSs are adaptive over time.

Business Intelligence System (BIS)• It is created by procuring data and information for use in

decision-making • It is a combination of skills, processes, technologies,

applications and practices • It contains background data along with the reporting tools • It is a combination of a set of concepts and methods

strengthened by fact-based support systems • It collects, integrates, stores, analyzes, and provides access

to business information• It is an environment in which business users get reliable,

secure, consistent, comprehensible, easily manipulated and timely information

• It provides business insights that lead to better, faster, more relevant decisions

Benefits of BIS• Improved Management Processes

• Planning, controlling, measuring and/or applying changes that results in increased revenues and reduced costs

• Improved business operations

• Fraud detection, order processing, purchasing that results in increased revenues and reduced costs

• Intelligent prediction of future

Supply Chain ManagementSupply chain management (SCM) systems help to

manage relationships with their suppliers.

Goal:

to get the right amount of their products in the least amount of time and at the lowest cost.

Why is supply chain management so important?

• To gain efficiencies from procurement, distribution and logistics

• To make outsourcing more efficient

• To reduce transportation costs of inventories

• To meet competitive pressures from shorter development times, more new products, and demand for more customization

• To meet the challenge of globalization and longer supply chains

• To meet the new challenges from e-commerce

• To manage the complexities of supply chains

• To manage the inventories needed across the supply chain