LAB 1

Introduction to MIS (Management Information System)

1. Describe Difference between Database, Data Mining, Management Information

System.

i. Database:
Database is a computer software application that stores, analyze and update data to perform functional
activities. Database can be created in the following ways.
a) Hierarchical databases
b) Network databases.
c) Relational databases.
d) Object-oriented databases
hierarchical database, segments are implicitly joined with each other. ... In a relational
database, this relationship between tables is captured by foreign keys and primary keys.

ii. Data Mining

Data mining is the process of extracting the useful data and identifying the patterns and trends
with in the large data. Data stored in the warehouse is critically evaluated than it is cataloged
into cluster to make strategic decisions. The techniques for data mining are as follows
a) Classification Analysis:
It is used to classify the similar and shared ideas into clusters. The example could be the
classification of defaulter and non-defaulter in bank data for future credit request.
b) Association Rule Learning:
This technique is used for two different variables under if/then conditions. For example, the
impact of announcement of 50% off discount on base sales.
c) Outlier Detection:
This refers to the reflection for data items in a dataset that do not contest an expected pattern or
an expected behavior. For instance, the identifying the defects in production which could make
the product ineligible for sale in market.
iii. Management Information system
Management Information Systems (MIS) is the study of people, technology,
and organizations.
Everyone who works in business, uses information systems. For example, a
supermarket could use a computer database to keep track of which products
sell best. And a music store could use a database to sell CDs over the
Internet.
MIS is a system that helps an organization to perform its activities effectively and efficiently. This
system may contain programs such as; Decision support system, used by managers to make
decision based on the data,
MIS - Decision Support System. ... A decision support system helps in decision-
making but does not necessarily give a decision itself. The decision makers compile
useful information from raw data, documents, personal knowledge, and/or business
models to identify and solve problems and make decisions.
2. Describe Difference between Data, Information, Knowledge.
a. Data:
Data, are unprocessed facts and figures, which has no meaning and it needs to be interpreted. To
have some meaning for data. Data must be relevant, and accurate. Example could be the sales
raw data of a brand.
b. Information:
Data which has been interpreted and have sum meaning. For instance, the decrease of 50% sales
of a brand comparatively last year.
c. Knowledge:
Knowledge is the most refined of information. The information that can be applied to resolve a
problem can be classified as Knowledge. Information can only be processed into knowledge
through experience. for e.g. the sales could retrieve due to 20% discount on brand.

3. What is MIS in terms of Management / Business strategy?

A Management information system harvests information products that back many of the
daily decision-making needs of managers and business professionals. This information
help all stakeholder to run the business effectively and efficiently. This system has
different module per need as
expert systems: which can provide help in knowledge management with the help of previous data.
Strategic information systems: helping business to make their operational technical to gain
information.
4. Visualization of Data in Organization
As seen Excel as visualization data in most of the organizations. One of the greatest advantages
of Excel is its flexibility: it puts little or no constraints on the user’s ability to create their ideal
dashboard environments. Thus, Excel is being used as a platform for solving practically any
business challenge. Many individuals using Excel to solve several business-specific challenges in
practically any organization or industry.
This makes Excel the ultimate business software. From marketing, finance, HR. to operations excel
is being used for being user friendly. Financial modeling can be made on excel and easily be
visualized, same goes for sales forecasting.