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    Uses MIS

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    The document discusses the uses of a Management Information System (MIS) in 3 paragraphs. MIS is used to manage business data, inform business decisions through accurate and timely data, and analyze business trends by examining past data and projecting future patterns. It allows examining different strategic scenarios and tracking sales. MIS also helps in budgeting and provides feedback to management on performance.

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    Uses MIS

    Uploaded by

    wattpad adventure
    28 views3 pages
    The document discusses the uses of a Management Information System (MIS) in 3 paragraphs. MIS is used to manage business data, inform business decisions through accurate and timely data, and analyze business trends by examining past data and projecting future patterns. It allows examining different strategic scenarios and tracking sales. MIS also helps in budgeting and provides feedback to management on performance.

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    The document discusses the uses of a Management Information System (MIS) in 3 paragraphs. MIS is used to manage business data, inform business decisions through accurate and timely data, and analyze business trends by examining past data and projecting future patterns. It allows examining different strategic scenarios and tracking sales. MIS also helps in budgeting and provides feedback to management on performance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    28 views3 pages

    Uses MIS

    Uploaded by

    wattpad adventure
    The document discusses the uses of a Management Information System (MIS) in 3 paragraphs. MIS is used to manage business data, inform business decisions through accurate and timely data, and analyze business trends by examining past data and projecting future patterns. It allows examining different strategic scenarios and tracking sales. MIS also helps in budgeting and provides feedback to management on performance.

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    ASSIGNMENT

    MANAGEMENT INFORMATION SYSTEM


    BBA-7

    SUBMITTED BY:

    Amna Asim (03)


    Amna Mahmood (04)
    Maha Shahid (24)
    Umal Shad (42)

    SUBMITTED TO:
    Ma’am Khansa

    USES OF MANAGEMENT INFORMATION SYSTEM:

    MIS is software or hardware used to support critical business applications. It’s various uses are
    given below:

    • Managing Business Data


    Business owners and managers need to be informed about the overall operation of a
    company and key areas of responsibility. If the president calls and wants to know how
    much sales have increased in each of the last four years, the sales manager must
    provide the information. Management information systems give you access to key
    data about your department and about the company in general. If the manager needs
    reference information for a bid or for regulatory purposes, management information
    systems are a good source.

    • Informing business decisions:


    Decisions are only as valid as the information on which they are based. Management
    information systems improve your decision-making, because they provide
    information that is accurate, timely, relevant and complete. Self-checking and cross-
    checking features in management information systems reduce errors, and IT
    professionals design the systems to offer a complete picture of a situation or highlight
    that specific information is missing. Companies that use management information
    systems ensure that all managers work from the same set of data and make their
    decisions based on identical information.

    • Analyzing Business Trends:


    A key part of management's responsibilities is preparing forecasts for strategic
    planning and budgets. Management information systems contain past data for
    fundamental company functions such as sales, production and customer service. They
    include information on revenue, expenses and investments, broken down into separate
    components. You can search for trends by asking the systems to project past
    performance patterns into the future. Management information systems have
    sophisticated mathematical analysis tools that can evaluate relationships and calculate
    probable future trends. You can base accurate forecasts on such information.

    • Examining Strategy and Scenarios:


    Sometimes, the information and trends display an evolving situation that the company
    wants to change. Management information systems can evaluate different
    possibilities and all you to examine scenarios. What-if scenarios are a powerful tool
    that help you decide on the best strategy for the company. Management information
    systems calculate what happens based on their collection of data on how the company
    operations performed in the past. You can see what happens if the promotional
    budgets increase or staff levels are reduced. With this knowledge, you can develop
    the optimal strategy for the company.
    • Tracking sales:
    MIS is used to track sales and daily operations of the business. It enables the
    identification of emerging market segments and makes compact information available
    to both management and employees.
    • Budgeting for upper management:
    MIS is used by business management to monitor and assess and enterprise health,
    present position, financial status to make smart business decisions.

    • Feedback:
    The main purpose of the MIS is to give managers feedback about their own
    performance; top management can monitor the company as a whole. Information
    displayed by the MIS typically shows "actual" data over against "planned" results and
    results from a year before; thus it measures progress against goals.

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