Information System

Marketing Intelligence System (MIS)

Marketing Intelligence System (MIS)
The process of acquiring and analyzing information in order to understand the market (both existing and potential customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in the future.

Internal Record System (IRS)

• Internal Record System (IRS): Marketing managers rely on internal reports on orders, sales, prices, costs, inventory levels, receivables, payables, and so on. By analyzing this information, they can spot important opportunities and problems.

Decision Support System(DSS)

• Decision Support System(DSS): A decision support system (DSS) is a computer-based information system that supports business or organizational decision-making activities.
• DSSs serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance.

Aim of Management Information System

• The main aim of MIS is to inform management and help them make informed decisions about management and the way the business is run.

Types Of MIS

• Transaction processing systems: These systems process a large volume of routine, recurring transactions.
• Operations information systems: These systems gather comprehensive data, organize it and summarize it in a form that is useful for managers.
• Decision support systems: These systems help mangers with the necessary information to make intelligent decisions.
• Expert systems: They are meant to mimic humans in making decisions in a specific field.

Elements of MIS

1.Hardware 2.Software
3.Control 4.Databases and application programs 5.People 6.Telecommunications and Networks