Management Information System Software
A management information system is a computerized system and database of financial data or information, which is organized, structured, and programmed in such a way, that it can produce a report in every level of management in a company. MIS shows the comparison between the targeted result and the real scenario of the organization. And also focus on the variables, related to the performance.
Update Tech Limited develops MIS system which can be used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.
Management Information Functions:
Data Capture: MIS function starts from data capturing from various external and internal sources. Data normally entered by the end-user of the computing system.
Data Process: The captured data is processed to find out the required information. Various activities as calculating, comparing, sorting, classifying, and summarizing are to process the data.
Storage Information: MIS stores processed data and as well as unprocessed data for future use. But it’s mandatory to store data in an organized and trackable system.
Information Retrieval: MIS retrieves data or information when it’s required. But not in regular form, it provides information to the management in their required format.
Support Decision Making: Information required for the management called management information (MI) is the ultimate product of MIS. Which ultimately supports the management to take flawless information.