Is202 – week 1 02 march 2012
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This document discusses key concepts related to data, information, knowledge, and decision making. It defines data as raw facts or observations, information as processed data that provides meaningful context, and knowledge as the combined result of experiences and information possessed. The document also describes attributes of information quality, types of managerial decisions as structured, unstructured, or semi-structured, and levels of decision making as strategic, tactical, or operational. Overall, the document provides an overview of fundamental concepts for understanding information use in decision making.
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This document discusses the development of management information systems (MIS) in various contexts. It begins by introducing MIS and the role of the MIS manager. It then discusses key aspects of developing MIS, including planning, providing support for management, and addressing issues like information quantity, analysis, availability, accuracy, and system security. The document also summarizes the development of MIS in specific areas like human resources, products, sales, advertising, information technology, and administration.
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Development of MIS: Information requirement, Designing of MIS, Implementation...
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There are three main categories of information systems that serve different organizational levels:
1. Operational-level systems support operational managers and track basic transactions.
2. Management-level systems serve middle managers and provide reports and historical records to support planning, controlling, and decision making.
3. Strategic-level systems help senior management address long-term strategic issues and trends.
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1) MIS in human resources manages employee records, aids in recruitment and promotion, supports training programs, facilitates performance evaluations, and handles compensation and benefits administration.
2) MIS in marketing integrates disparate marketing data, provides information continuously to all management levels, collects internal and external information, and supports timely decision-making.
3) MIS in finance automates accounting tasks, enables cash management and budget planning, ensures financial reporting compliance, and gathers transactional and forecasting data.
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This document discusses the application of management information systems (MIS) in the manufacturing sector. It outlines the goals of an MIS, which include providing managers with information to help regular operations, control, organize and plan better. It then describes the typical inputs and outputs of an MIS and how MIS can help different functional areas like finance, manufacturing, marketing, etc. Finally, it discusses how MIS supports various management goals like financial management, human resource management, materials management, production management and marketing management in a manufacturing organization.
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Material management involves planning, organizing, and controlling the flow of materials from purchase to destination. Material management information systems automate this process for healthcare organizations. The key modules of an MMIS include requisitioning, ordering, receiving, distribution, usage tracking, invoice processing, and inventory management. MMISs use electronic data interchange and mobile devices to facilitate ordering and payments with vendors and data entry. The MMIS must also integrate with an organization's financial systems. Marketing information systems gather, analyze, and distribute timely data to aid marketing decision makers in identifying and addressing problems concerning customers, competitors, and the market environment. They are crucial for anticipating demand, taking a systematic approach, analyzing competition, and developing marketing plans and strategies.
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Management Information Systems (MIS) is the study of people, technology, organizations and the relationships among them. MIS professionals help firms realize maximum benefit from investment in personnel, equipment, and business processes by creating information systems for data management and meeting the needs of managers, staff and customers. A management information system gives managers the information they need to make efficient and effective decisions by collecting, processing, storing and disseminating data.
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Management Information Systems (MIS) provide managers with information to support effective decision making and feedback on daily operations. MIS outputs are generated from accumulated transaction data and integrated across functional subsystems. MIS investments can boost production processes, leverage IT investments, expand businesses, and improve commerce. A well-planned MIS provides timely, accurate, consistent, complete, and relevant reports through scheduled, indicator, demand, and exception reports. An example of a current MIS is SageOne, which integrates accounting, payroll, billing, and other functions.
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3 channel-information-systems
Introduction to Sales Management – The Sales Organization
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Functions and Policies – International Sales Management
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Sales Planning – Sales Budgets – Estimating Market
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– Leading the Sales Force – Evaluating Sales Force
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Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
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Marketing Channels – Evaluating Channel Performance-
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Management.
Level of people and their information needs - Unitedworld School of Business
There are different types of information systems that can be used for various organizational functions and management levels. Major functional subsystems include marketing, manufacturing, logistics, personnel, finance and accounting, and information processing. These systems support different activities along the value chain such as transaction processing, operational control, management control, and strategic planning. Information systems also differ in terms of time scales, level of detail, source of data, and frequency of use depending on whether they are used for operational, tactical, or strategic management. Transaction processing systems provide data to decision support systems and executive information systems which are used to support non-routine decisions at middle and senior management levels respectively.
Management information system
A Management Information System (MIS) is defined as an integrated user-machine system that provides information to support operations, management, analysis, and decision-making. An MIS utilizes computer hardware, software, databases, and manuals to provide managers with reports, outputs from mathematical models, and access to information on demand. An effective MIS is management-oriented, business-driven, integrated, provides common data flows, and is flexible and easy to use.
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The document discusses the importance of developing long-range and short-range plans for managing information systems (MIS) within an organization. It states that information should be recognized as a major resource like capital and managed appropriately through planning and control. A long-range MIS plan provides direction for systems development over time and helps achieve specific targets, while a short-range plan allows for a flexible system that can adapt to changing information needs and provide new required information. The document also mentions that a system development life cycle is needed.
Quantitative approach
The quantitative approach to management involves using quantitative techniques like statistics, optimization models, and computer simulations to improve decision making. It emerged from research during World War II and includes fields like management science, operations management, and management information systems. Management science applies techniques like forecasting and inventory modeling to management decisions, while operations management focuses on transforming inputs into outputs. Management information systems designs computer systems to provide information to managers. Today, quantitative techniques aid planning, budgeting, scheduling and quality control, though managers must interpret results.
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This document outlines an assessment involving research to identify suitable locations for a bank's roadshow targeting young professionals. It provides a scenario where the student must research census data and use a spreadsheet to analyze locations with substantial numbers of young professional workers. The student must then produce: 1) Notes on the selected dataset; 2) A report identifying potential locations using management information from their analysis; 3) A document validating their findings; and 4) An email to their team justifying the information. The document provides guidance on selecting UK census data from NomisWeb to complete the tasks.
Introduction To The Mi Module
This document provides an introduction and overview of a 2-day training module on Management Information Systems (MIS) offered by Sine Management Consultants. The module aims to impart both practical and conceptual knowledge on creating and using MIS. It covers topics such as data capture processes, different types of MIS analyses, portfolio budgeting and forecasting with MIS, and tools for MIS generation. Participants will learn how to generate important analytical MIS and make them available for management reporting.
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- 2. LEARNING OUTCOMES • After reading this section, you should be able to: • Distinguish between data, information and knowledge • Describe and evaluate information quality in terms of its characteristics • Classify decisions by type and organisational level • Discuss the information needed to support decision making
- 3. Introduction • Data and information Managers in the work place use information to make decisions and ensure that information flows/ disseminates efficiently through the organization
- 4. Data in the information technology context! • Data is a collection of raw facts or observations about an organizations objectives. Data refers to the measurement of the attributes ( characteristics of an organization) such as daily sales figures, employee attendance etc. • Data on its own is not useful it must be analyzed and compiled into meaningful information for example: looking at a specific days sales is not helpful but when the same days sales are compared to a previous period it enables the manager to get information such as • How much did sales increase by? • What is the most popular product by sales? Etc.
- 5. Information : definition • Information is processed data that yields a meaningful context for the user. Data is then subjected to the value added process where by meaningful information is extracted from raw data and compiled into reports for the end user. • For example the daily sales for a firm is compiled into a monthly sales report for the sales manager. The data on its own does not hold much value but when the data is processed it yields information such as most popular product, frequency of transactions per customer, peak and off peak times. • The report allows the sales manger to identify these trends.
- 6. Value of information • Information value can be categorized into two classes tangible and intangible value. • It is often possible to measure the value of information directly. The tangible value of information is often measured in terms of financial value; an example can be the use of inventory information to improve stock control procedures. • VALUE OF INFORMATION – COST OF GATHERING INFORMATION • The intangible value of information is difficult or impossible to quantify, an example can be attempting to measure the extent to which information can improve decision behavior. IMPROVEMENTS IN DECISION BEHAVIOUR – COST OF GATHERING INFORMATION
- 7. • SOURCES OF INFORMATION • Information can be gathered through both formal and informal communication. Formal communications can include reports and accounting statements. Informal communications can include conversations and notes. Formal communication • Formal communication involves presenting information in a structured consistent manner. • Information communication • This describes less well-structured information that is transmitted by informal means such as casual conversations between members of staff.
- 8. ATTRIBUTES OF INFORMATION QUALITY A group of characteristics by which the quality of information can be assessed, normally grouped into categories of time, content and form. MANAGERIAL DECISON MAKING In order for an organization to function effectively all activities must be planned and monitored by managers according to well-informed decisions. The functions of management include forecasting, planning, organizing and coordination and control. One of the key management functions that information systems seek to support is managerial decision making. The way in which managers make decisions and the factors that influence those decisions are often described as decision behavior. Decisions can be classed as structured, unstructured or semi- structured.
- 9. Types of Decisions • Structured decisions • Situations where the rules and constraints governing are known, e.g. how would we process a sales order? • Unstructured decisions • Complex situations where the rules governing the decision are complicated or unknown, e.g. what should our distribution channels be? • Semi-structured decisions • Many decisions fall somewhere in between the two extremes, e.g. which foreign market should we target?
- 10. LEVELS OF MANAGERIAL DECISION MAKING • Strategic level • Managers are largely concerned with long term organizational planning. • Tactical level • Managers are largely concerned with medium term planning. • Operational level • Managers are largely concerned with short term planning and the day- to-day control of an organization's activities.
- 12. What is Knowledge? • Knowledge can be thought of as the combined result of a person‘s experiences and the information they possess. • Knowledge management (KM) is a fairly new term that describes a range of activities intended to make sure an organization uses its information resources as effectively as possible. Applications of KM include data mining, document image processing and business intelligence. • Competitive intelligence is an area of knowledge management concerned with helping organizations to respond effectively to competition by gathering and analyzing information about competitors.
- 13. End of Ch 1
Editor's Notes
- Attributes of information such as financial information.