Thursday, 10 August 2017
Wednesday, 2 August 2017
LO4 : Be able to use it tools to produce management information
4.1 Tools
- Database
A database is a collection
of information that is organized so that it can be easily accessed, managed and
updated.
- Artificial Intelligence
Artificial
intelligence (AI) is an area of computer science that emphasizes the creation
of intelligent machines that work and react like humans. Some of the activities
computers with artificial intelligence are designed for include:
- Speech recognition
- Learning
- Planning
- Problem solving
- Spreadsheets
A spreadsheet is a sheet of paper that shows accounting or
other data in rows and columns.
- Internet
An electronic communications network that
connects computer networks and organizational computer facilities around the
world.
4.2 Gather information
- Define the requirement
Identify and collect someone data information
- Establish sources of information
Collecting the need of the information : name,age,status,address
- Define other factors to be considered
Interview, books and newspaper
- Select information
Select the right information which is valid and reliable such as interview people
4.3 Analyze information
Quality of information
- Validity of information
- Accuracy of information
- Currency of information
- Relevance of information
4.4 Management information
Reports
A document containing information organized in a narrative, graphic, or arrangement form
- Sales Report
- Population Statistics
- Marketing Analysis
References:
LO3: MIS Company
Telbru Company
- The ultimate goal of TelBru supply chain management system is to reduce inventory and costs through optimisation of vendor relationship and a highly integrated automated procure-to-pay system on a proven technological platform.
Tuesday, 1 August 2017
LO3:Types of information system
3.4 Types of information
system
Ø
Management information
system
A
management information system (MIS) is a set of systems and procedures that
gather information from a range of sources, compile it and present it in a
readable format. Managers use an MIS to create reports that provide them with a
comprehensive overview of all the information they need to make decisions
ranging from daily minutiae to top-level strategy. Today's management
information systems rely largely on technology to compile and present data, but
the concept is older than modern computing technologies.
Ø
Marketing information
system
A
system that analyzes and assesses marketing information, gathered continuously
from sources inside and outside an organization. Timely marketing information
provides basis for decisions such as product development or improvement,
pricing, packaging, distribution, media selection, and promotion. See also
market information system.
Ø
Financial information
system
A
financial information system (FIS) accumulates and analyzes financial data used
for optimal financial planning and forecasting decisions and outcomes. An FIS
is used in conjunction with a decision support system, and it helps a firm
attain its financial objectives because they use a minimal amount of resources
relative to a predetermined margin of safety. An FIS can be thought of as a
financial planner for electronic commerce that can also produce large amounts
of market and financial data at once obtained from financial databases
worldwide.
Ø
Human-resources
information system
The
Human Resource Information System (HRIS) is a software or online solution for
the data entry, data tracking, and data information needs of the Human
Resources, payroll, management, and accounting functions within a business. It
is useful for all processes that you want to track and from which you hope to
gather data.
3.5
Management information system
Ø
Features
- It collect data
- It provides information
- Database management
- Make information accessible
- Its flexible
Ø
Benefits
·
MIS increases
productivity
·
MIS enhances the quality
of decision-making
·
MIS improves
communication and helps develop team work
·
MIS can facilitate
organizational transformation
Ø
Effectiveness criteria
http://smallbusiness.chron.com/management-information-system-2104.html
http://www.businessdictionary.com/definition/marketing-information-system.html
https://www.techopedia.com/definition/26394/financial-information-system-fis
https://www.thebalance.com/human-resources-information-system-hris-1918140
http://www.ehow.com/info_8024187_management-information-system-features.html
http://ecomputernotes.com/mis/what-is-mis/benefitsofmis
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