Well, time for the final blog! To sum up all the previous blogs, I would like to just mention some benefits and drawbacks of Information Systems.
An information system can be defined as any means of communicating knowledge from one source to another, and/or from one person to another. The difference between an information system and a data system is that a data system makes raw data available to the user. On the other hand, an information system is designed to provide the best possible information to its users. Information systems typically refer to computerised methods of searching, storing and retrieving information. An information system is all about providing the most usable information needed, and is there to empower users and equip them with the tools to do their jobs most effectively. An information system offers a litany of benefits that help to make the process of managing information easier. Central access, easy back up, central distribution of information, easy record keeping, easy tax preparation, as well as easy customer trait identification, are just a few of the benefits offered by an information system.
Learning about information systems will help you both personally and professionally. An understanding of information systems can also help a company. An effective information system can have a major impact on corporate strategy and organizational success. This impact can benefit the organization, users of the information system, and any individual or group who will interact with the information system. Some of the benefits organizations seek to achieve through information systems include:
*Added value to products (goods and services)
*More efficient administration
*Reduced labor requirements
*Superior financial decision making
*Superior control over operations
*Superior managerial decision making
The primary disadvantage is the vulnerability of data in today’s world. It is very easy for a business to be a victim of espionage or robbery if they keep their data online, which most businesses do now a days.
Depending on organization deployment, usage and extraneous factors, some disadvantages related to Management Information Systems can come to the fore. Allocation of budgets for MIS upgrades, modifications and other revisions can be quite tricky at times. If budgets are not allocated uniformly or as per immediate requirements, key functionalities might get effected and benefits might not be realized consistently. Integration issues with legacy systems can affect the quality of output and vital business intelligence reports.
I hope you have enjoyed my blogs and have found them useful. Thanks again for reading them 🙂
Best of Luck in the end of year exam!