In this post I will be talking about the role of Management Information Systems (MIS) in decision making and I will list several advantages.
MIS is a formal system for providing management with accurate and timely information necessary for decision making. When information systems are designed to provide information needed for effective decision making by managers, they are called management information systems.
The main purpose of MIS is to provide the right information to the right people at the right time. All three of these aspects are key to making the right decision.
An MIS provides the following advantages:
- It facilitates planning.
- In minimizes information overload.
- It encourages decentralization.
- It brings co-ordination.
- It makes control easier.
- British-based retailer Marks & Spencer uses information generated from customer credit cards to better tailor its marketing efforts. It has also revamped its process for supplying products to stores after studying its customer database.
- 3M, whose best-known products are Post-It Notes and Scotch Tape, operate in more than 60 countries. It recently introduced a $30 million online information system and all its senior executives get their information from the online database.