Management information systems and its application in Business Decision Making

Abstract

A formal method of collecting timely information in a presentable form in order to facilitate effective decision making and implementation, in order to carryout organisational operations for the purpose of achieving the organisational goals”. -Walter I. Kennevan. “Management information system, or MIS, broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization.” An organized approach to the study of the informationneeds of an organization'smanagement at every level in makingoperational, tactical, and strategic decisions. Its objective is to design and implement procedures, processes, and routines that provide suitably detailedreports in an accurate, consistent, and timely manner. In a management information system, modern, computerized systems continuously gather relevantdata, both from inside and outside an organization. This data is then processed, integrated, and stored in a centralizeddatabase (or data warehouse) where it is constantly updated and made available to all who have the authority to access it, in a form that suits their purpose.