Today the topic is M.I.S., or Management Information Systems. Management Information Systems are an efficient and methodical approach to collecting, storing and processing raw data that underlines what needs to be done in order to handle an enterprise effectively.
Historically, data had to be manually inputted and consulted, which meant there was more of a risk for human errors and delays in terms of putting together the data into proper reports to facilitate management functions. However, the advancement of Management Information Systems into the organised procedure that it is now has vastly improved the way businesses are run.
The data stored in Management Information Systems covers various categories, such as technologies, people, documents and procedures. Faster and more systematic than manual consulting and handling, this technology can analyse and collate raw data that it stores into reports which outline trends and patterns in decision-making and organisation functions.
Managers can then refer to these reports in order to systematically plan and direct business operations. These reports can also include knowledge about hypothetical scenarios resulting from prospective management-changing decisions.
This technology not only saves time, allowing for managers to make informed decisions more quickly, but also assist in helping those with authorisation to the information to better understand the enterprise and the nature of the industry.