Topics selected from exploratory data analysis tables, graphs, central tendency and variationcorrelation and regression, probability and statistical inference confidence intervals and hypothesis testing. Emphasis placed on interpretation and analysis of real-data sets. Use of statistical computing software is integral to the course. Emphasis placed on probability, probability distributions, statistical inference, correlation and regression.
Managers use an MIS to create reports that provide them with a comprehensive overview of all the information they need to make decisions ranging from daily minutiae to top-level strategy.
Today's management information systems rely largely on technology to compile and present data, but the concept is older than modern computing technologies. Making Decisions The main purpose of a management information system is to make managers' decision-making more efficient and productive.
By pooling information from a range of sources into a single database and presenting the information in a logical format, an MIS can provide managers with everything they need to make highly informed decisions and perform in-depth analysis of operational issues.
Collecting Information An MIS can be developed to collect nearly any type of information managers require. They can view financial data such as daily revenues and expenses at a glance and attribute them to specific departments or groups.
Performance indicators such as the timeliness of projects or the quality of products coming off an assembly line can help managers pinpoint areas of needed improvement.
Staff can manage schedules for work shifts, incoming deliveries and outgoing shipments from any place linked to the MIS.
A management information system can facilitate collaboration and communication as well. Employees can edit and share documents and communicate relevant information on anticipated developments and warnings across the organization.
Compiling Reports One of the most valuable features of a management information system is its ability to pull in internal and external data from a variety of sources and present it in an easy to analyze format. Internal reports present information in a way that managers can understand, by including all relevant data and grouping data in a logical manner.
For example, a report viewed by a corporate manager for a restaurant chain may show revenue, expenses, labor-hours and volume of each outlet, allowing him to see which store makes the most money per employee on the floor and which stores have higher expenses compared to revenue and volume--an indicator of waste or theft.
Non-profit organizations can use an MIS to automatically generate reports required by the federal government.
This allows employees and volunteers to focus their time on more productive activities and can reduce errors and the costs associated with resubmitting federal reports.
For example, employees at all levels can consult an MIS to check on the status of inventory items, view stats related to their specific department or group and request internal transfers of materials. Compiling Data A management information system can be a costly investment.
In addition to purchasing an MIS software package, customizing the system and hiring extra IT personnel to oversee and maintain the system, a company must train all employees to use the system.
Front-line employees often perform the first two steps in an MIS, data collection and input, leaving them with less time to focus on productive activities; this can increase overall salary expenses.
Weigh the costs of an MIS against the potential benefits before implementing this tool in your small business.Journal of Management and Marketing Research Management information systems and business decision making, Page 4 To begin with, MIS provides a fitting .
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Information security (shortened as InfoSec) is the ongoing process of exercising due diligence to protect information, and information systems, from unauthorized access, use, disclosure, destruction, modification, disruption or distribution, through algorithms and procedures focused on monitoring and detection, as well as incident response and leslutinsduphoenix.coms is the process of inspecting.
MIS increases productivity. MIS reduces time, errors and costs associated with processing information.; To increase productivity, MIS follows Online Transaction Processing (OL TP).OLTP is the gathering of data as input, processing that input data and updating the data to create valuable information .
Sep 03, · Past research on the effect of ERP systems on agility is contradictory, and research on the post implementation effects of ERP systems on agility is limited. Course Summary Business Information Systems and Computer Applications has been evaluated and recommended for 3 semester hours and may be transferred to .