IMPORTANCE OF MIS
Management information system is an integrated set of component or entities that interact to achieve a particulars function, objective or goal. Therefore it is a computer based system that provides information for decisions making on planning, organizing and controlling the operation of the sub-system of the firm and provides a synergistic organization in the process.
The component of an information system includes. a hardware which is used for input/output process and storage of data, software used to process data and also to instruct the hand-ware component, data bases which is the location in the system where all the organization data will be automated and procedures which is a set of documents that explain the structure of that management information system.
There are various driving factors of management information system for example:-
Technological revolutions in all sectors make modern managers to need to have access to large amount of selective information for the complex tasks and decisions.
The lifespan of most product has continued getting shorter and shorter and therefore the challenge to the manager is to design product that will take a longer shelf life and in order to do this, the manager must be able to keep abreast of the factors that influences the organization product and services thus, management information system come in hardy in supporting the process.
There are huge amount of information available to today’s manager and this had therefore meant that managers are increasingly relying on management information system to access the exploding information. Management information services helps manager to access relevant, accurate, up-to-date information which is the more sure way of making accurate decisions. It also helps in automation and incorporation of research and management science techniques into the overall management information system for example probability theory.
The management information services are capable of taking advantage of the computational ability of the company like processing, storage capacity among others.
Based on this relevancy, management information system should be installed and upgraded in various organizations since today’s managers need them to access information for managerial decision making and also management functions.