💻 Management Information Systems (MIS)
Definition: A Management Information System (MIS) is a computer-based system that collects, processes, stores and distributes information to support management decision-making.
What MIS does
- Collects data from across the business (sales, finance, HR, operations)
- Processes data into useful information (reports, dashboards, trends)
- Stores historical data for comparison and forecasting
- Distributes information to the right people at the right time
Benefits
- Better, faster, data-driven decision-making
- Improved coordination between departments
- Early warning of problems
- Supports strategic planning
Limitations
- Expensive to install and maintain
- Only as good as the data put in
- Staff need training
- Over-reliance on data may ignore qualitative factors