Management Information System (MIS) is the technology and people frame work process interrelation in the company which helps the management decision making at different levels of the organization. All kinds of databases are created, stored, and analyzed in order to crafted understanding which would lead to broader business growth. It serves an extensive range of fields such as finance, human resources, marketing, operations, and provides managers with relevant and current information for effective decision making.
MIS encompasses the hardware, software, databases, networks, user interfaces, etc. It enhances the accuracy of data being inputed into the system and also helps in automating strategic resource allocation exercises, monitoring performance metrics, and managing various resources across the company effectively. Commonly used applications of MIS include inventory management, CRM, and even the generation of yearly financial statements. Artificial intelligence and big data analytics have brought about more innovative systems in predictive analytics and business intelligence. In its essence, these systems make it possible for businesses to operate more efficiently and remain relevant in a continually changing environment.