Information is the Key to Successful Business Outcomes

Data-Driven enterprises or businesses need an efficient system of information gathering and dissemination. There is a large network of pipelines that direct requisite information and data to authorized persons in an organization. 

The core organ for information gathering and retrieval is MIS, an abbreviation for Management Information System. MIS can be defined in simple terms, but it is a far more complex network than what the definition means. In simple terms, the system comprises hardware, software, application tools, and a networking system that binds all together to form a centralized organ. The system collects and stores information from within an organization pertaining to core functions, and noncore functions. But this is not all that the system does. It collects information from external sources also. The businesses with the best data at hand win over their competitors. MIS is thus an admixture of minds, technology, resources, and tools. 

Sound Decision Making is Key to Right Strategies & Approach  

Management professionals sit at the key juncture of MIS, they are geared to expand, fine-tune and keep the system running. Every employee from the CEO, to the executive and people in the line management, need to be updated information to keep the core functions and sundry task going.  Information retrieval, and data analysis are key to decision-making at every stage of the business process. They help in making core competitive strategies that are supposed to impact the present growth path and play a key role in futuristic plans that fulfil the company's goals and mission.

Thus a vast MIS network within an organization that is responsible for internal data and external information is key to a successful business. Businesses that do not have organizational capabilities rely on MIS consultants to build information systems for them. Some information gathering and data retrieval may be shared with the consultants on hire on an agreed basis. But, generally, the process is limited to sharing and analyzing data internally.

The professionals or MIS Consultants are behind the core competency of a successful organization. They are conduits for information gathering at every stage and from every section of the business. The approach is holistic and comprises data analysis, teamwork, leadership, project management, customer service, and underlying business strategies. They support management with stored and real-time data anytime anywhere by developing systems that enable retrieval down the pipeline to authorized entities within an organization.  This is made possible by the integration of MIS Tools for enterprise accounting, storage, retrieval systems, and delivery mechanism that delivers data on hand in an instant not only through the computerized network but also through remote connections on mobile and laptops. 

 An executive in the field can thus conclude a deal successfully with requisite data that represent facts and figures, past performances, and factors that create a trust or product descriptions or service records. Information systems are thus behind the existential drive for an organization facing cutthroat competition. Thus it has become imperative for a data-driven business to avail customized or sliced-and-diced data on hand, and be aware of the impact of metrics that were behind their competence.       

MIS Application Tools or Software

The complex network of hardware, software, and networks has to be integrated with tools that manage accounting, tax complaints, remote connectivity, flexible remote communications, and data delivery. Thus lot many application tools have to be integrated smoothly within the MIS. While some MIS software may be for information gathering others may help in automating. The traditional manual processes are being switched over by automation. Integration is important with all elements in MIS to form a centralized data delivery system for analysis and decision-making. 

In India, some of the popular application software are;

• Tally Prime - Enterprise Accounting & Management System
• Shine HRMS - Employee & Asset Management 
• Biz Analyst - Tally on Mobile
• Cloud Services 
• Hosting Services
• Security Systems
  
  
  The MIS may differ from one organization to another but its key role remains the same.