Today for my final blog I will look at a how information systems are used in marketing in the business world today. The system used in this sector is called a Marketing Information System or MIS and it offers many benefits to the marketing industry.
A Marketing Information System (MIS) is defined as ” a set of procedures and methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis”. This type of information system is used in various different aspects of marketing. For example, it is used managerially, operationally and strategically, which therefore indicates its value to marketing companies and marketing departments. In marketing or while undertaking a marketing activity there can be numerous factor that can affect it, these factors can be external and sometimes uncontrollable. This enforces the need for marketing personal to collect large quantities of information which is done through a Marketing Information System (MIS). This information (like all other information systems) is then transformed into data which can then be given to those who make key decisions in the organisation. However, the effectiveness of these key decisions made solely depends on the quality of the information collected and hence the information itself. The information collection needs to be done on a frequent basis in an organisation or it may faces challenges such as: missed opportunities, marketing decisions may not be properly reviewed and the data could be incorrectly analyse. Although these systems are quite complex, they offer many benefits. These benefits can include: Organized data collection, the storage of important data and more speed an efficiency. The disadvantages of a Marketing Information System are similar to those of other information system; the complexity of the system, the labour costs and the costs of training employees to use such system. If these areas are addressed then a MIS can offer limitless benefits to a marketing company.
To read more on Marketing Information Systems look at the following link: http://www.marketing91.com/mis-marketing-information-system/
From my 6 blogs in total, it is clear that information systems are and can be used in a wide range of business sectors. As I already discussed, information systems are used in education, retail, health, geographical sector and marketing. These are only a few sectors that I have discussed but it is used in many more. In the next few years, I predict that information systems will be used across all sectors of industry. Thank you for reading my blogs! I hope you all found them interesting!