INFORMATION,

MANAGEMENT AND
TECHNOLOGY
GROUP 7
INFORMATION

MANAGEMENT

TECHNOLOGY
INFORMATION, MANAGEMENT
AND TECHNOLOGY (IMT)

WHAT IS IMT?

Information management technology (IMT) refers

to the processes, systems, hardware, and software
a company uses to conduct its day-to-day
operations.

www.reallygreatsite.com
 IMT is also considered a professional
discipline where a student learns to manage
the selection, distribution, and organization of
all the technology and related process in a
business environment.

SOURCE: https://www.investopedia.com/terms/i/information-management-technology-imt.asp
INFORMATION NEEDS
AND ITS ECONOMICS
INFORMATION NEEDS AND
ITS ECONOMICS

Information needs and its economics refer to the value of

information and the costs associated with obtaining, processing,
and distributing it. This includes the cost of gathering data, the
cost of processing it, the cost of storing it, the cost of distributing
it, the cost of interpreting it, and the cost of acting on it.
In the hospitality industry,
information needs is used to
optimize operations,
streamline decision-making
processes, and improve
communication between
departments.
 GROUP NUMBER 7

DUE TO THE AVAILABILITY OF THE INFORMATION

AND ITS ECONOMICS, VARIOUS REASONS HAS
BEEN DEVELOPED SUCH AS:

DEVELOPMENT OF PROCESSING DATA

VIDEO TECHNOLOGY
TELECOMMUNICATIONS WITH COMPUTERS
Video (or music) technology
The accessibility of information
The information flow has been permits the recording of
has been considerably improved
accelerated with developments in activities on video cassettes
as a computer can readily scan
communication technology. and video discs. This
the available stored data to
technology allows users to
provide the required information.
capture events on video for later
viewing and archiving.
In conclusion, information needs and its economics
are interconnected. Understanding the specific
information needs of individuals or organizations is
essential for effective decision-making.
MANAGEMENT
INFORMATION
SYSTEM
MANAGEMENT INFORMATION SYSTEM (MIS)
MANAGEMENT
Management covers the
planning, control, and
administration of the operations
of a concern.
Top management - handles
planning
Middle management -
concentrates on controlling;
Lower management - concerned
with actual administration.
INFORMATION
Information, in MIS, means the
processed data that helps the
management plan, control, and
operate. Data means all the
facts arising out of the
operations of the concern. Data
is processed i.e. recorded,
summarized, compared, and
finally presented to the
management in the form of an
MIS report.
SYSTEM
Data is processed into
information with the help of a
system(Information system and
Information technology). A
system is made up of inputs,
processing, output and feedback
or control.
 MANAGEMENT INFORMATION
SYSTEM (MIS)

A Management Information System (MIS) is a

computerized system that helps organizations
collect, organize, store, and analyze information
to support managerial decision-making and
day-to-day operations. MIS is a subset of
information systems and is primarily focused
on providing information to support managerial
functions within an organization.
 DATA
Data is crucial for every business. It is the collection of unorganized and unanalyzed
facts, figures, and unprocessed information. Firms collect data in files, documents,
cloud storage, hard copies, and soft copy formats.

MIS
COMPONENTS PEOPLE
An MIS is designed to be used by firm employees. Managers, accountants,
executives, and staff for day-to-day operations.
 BUSINESS PROCESS
Best practices that guide the users and all other components on how to work
efficiently. Step undertaken to achieve a goal.

MIS
COMPONENTS HARDWARE
Information system which includes the equipment used in the system to input, store,
and recover data. It includes both input and output devices, cables, and storage
devices. It provides computing power for processing data and speeds up the
processing data into information.
 SOFTWARE
These programs help to create instructions and make hardware interpret or read the
inputs, store, recover, and convert data into usable formats and print the output.

MIS
COMPONENTS SYSTEM SOFTWARE APPLICATION SOFTWARE
Operating system Specialized software for
accomplishing business task
 DATA CAPTURING
MIS capture data from various internal and external sources of the
organization. Data capturing may be manual or through computer
terminals.

OBJECTIVES
PROCESSING DATA
OF MIS The captured data is processed into information needed for
planning, organizing, coordinating, directing and controlling
functionalities at strategic, tactical and operational level.

making calculations with the data

sorting data
classifying data
summarizing data
 INFORMATION STORAGE
MIS stores the processed or unprocessed data for future use. If
any information is not immediately required, it is saved as an
organization record, for later use.

INFORMATION RETRIEVAL
OBJECTIVES MIS retrieves information from its stores as and when required by

OF MIS various users. As per the requirements of the management users, the
retrieved information is either disseminated as such or it is processed
again to meet the exact demands.

INFORMATION DISSEMINATION
Information, which is a finished product of MIS, is disseminated to the
users in the organization. It is periodic or online through a computer
terminal.
 ADVANTAGES
INCREASED EFFICIENCY IMPROVED DECISION-MAKING

This can save time and reduce errors, Provide organizations with real-time
ultimately leading to cost savings for data and analytics, which can help
the organization. managers make more informed
decisions

ENHANCED COMMUNICATION BETTER DATA MANAGEMENT

This can help teams work more This can help ensure data is
effectively and achieve their goals accurate, up-to-date, and easily
more efficiently. accessible when needed.

COMPETITIVE ADVANTAGE
By using data and analytics to make informed
decisions, organizations can become more
efficient, more responsive to customer needs, and
better able to compete in the marketplace.
 DISADVANTAGES
COSTLY IMPLEMENTATION TECHNICAL ISSUES

There may be expenses related to Can experience technical issues,

purchasing software, hardware, and such as system crashes or data
training employees to use the loss.
system.

SECURITY RISKS DEPENDENCE ON TECHNOLOGY

Need to ensure that the systems This can lead to lost productivity and
are secure and take steps to revenue for the organization.
protect against potential data
breaches.

POTENTIAL FOR HUMAN ERROR

If employees enter incorrect data or fail to

update the system in a timely manner, it can
lead to inaccurate data and decison-making.
TYPES OF MIS
SOFTWARES
DSS (Decision Support System)
DSS analyzes business data to assist managers with
decision making. For example, a DSS could project
revenue figures based on new product sales
assumptions.

TPS (Transaction Processing System)

A TPS processes the routine transactions
associated with a business. Examples include
payroll processing, order processing for an
e-commerce business and invoicing.
 MSS (Management Support System)
An MSS stores and organizes data, enabling end
users to generate reports and analyze data to address
business needs and inform planning. A data
warehouse is an example of a MSS.

Expert Systems
An expert system provides managers with insights and
advice based on artificial intelligence (AI). In an expert
system, the AI is trained to simulate the knowledge of a
human expert in a particular field.
MIS DEPARTMENT
V/S
IT DEPARTMENT
 MIS and IT departments have distinct roles, they often collaborate closely. For
example, the MIS department might identify a need for a new software system, and
the IT department would be responsible for implementing and maintaining it.

In smaller organizations, especially, the roles might overlap, and a single

department might handle both MIS and IT functions. Additionally, with the evolving
nature of technology and business needs, these distinctions can vary from one
organization to another.
What does MIS
contribute to
Engineering
Management?
data collection and Storage

An MIS collects, stores, and manages large volumes of data related to engineering processes, projects, resources,
and performance metrics. This data can be used for analysis and reporting.

Decision support

It provides decision-makers with accurate and timely information. Engineers and managers can use this information
to make informed decisions regarding resource allocation, project prioritization, and strategic planning.

PERFORMANCE MONITORING

An MIS allows for the monitoring of key performance indicators (KPIs) and other metrics relevant to engineering
projects. This enables managers to identify areas for improvement and track progress towards goals
RESOURCE ALLOCATION AND UTILIZATION

It helps in effectively allocating resources such as manpower, equipment, and materials based on project
requirements, availability, and budget constraints.

PROJECT PLANNING AND SCHEDULING

MIS tools assist in creating and managing project schedules, assigning tasks, and tracking progress. This ensures that
projects are completed on time and within budget.

RISK MANAGEMENT

It helps in identifying, assessing, and managing risks associated with engineering projects. This includes factors like
technical challenges, budget overruns, and schedule delays.
Cost analysis and budgeting

An MIS enables the tracking of project costs, including expenses related to labor, materials, equipment, and
overhead. This aids in budgeting and cost control.

quality control and assurance

It facilitates the monitoring and control of quality standards throughout the engineering processes.
This is critical for ensuring that products and projects meet the required specifications.

inventory management

For engineering organizations involved in manufacturing or production, an MIS helps in managing inventory
levels to ensure that materials are available when needed without excess stock.
ENTERPRISE
RESOURCE
PLANNING
 ENTERPRISE RESOURCE PLANNING

Enterprise resource planning (ERP) is a

platform companies use to manage and
integrate the essential parts of their
businesses. Many ERP software
applications are critical to companies
because they help them implement
resource planning by integrating all the
processes needed to run their companies
with a single system.
PROVIDE TRANSPARENCY INTO THE
BUSINESS PROCESS BY

LOGISTICS

PRODUCTION
FINANCIAL
WHY IS IT IMPORTANT?
 WITHOUT ERP WITH ERP

VS

EVERY DEPARMENT HAVE EVERY SYSTEM DEPARTMENT CAN BE

ITS SYSTEM OPTIMIZED ACCESSED THROUGH ONE APPLICATION WITH
FOR ITS SPECIFIC TASK ONE INTERFACE
 HOW ERP WORKS
ENTERPRISE RESOURCE PLANNING IS MADE OF
INTEGRATED MODULES OR BUSINESS APPICATION THAT
COMMUNICATE WITH EACH OTHER AND SHARE COMMON
DATA BASE

ALL THE SYSTEM DEPARTMENT DATA IS LINKED ONTO ONE

SOFTWARE AND BECOMES INSTANTLY AVAILABLE IN THE
SERVER TO THE USER WITH PERMISSION TO USE IT. IT CAN
GENERATE WITH METRICS, GRAPHIS OR THER VISUAL AID A
CLIENT MIGHT NEED TO DETERMINE HOW THE BUSINESS
AND ITS DEPARTMENTS ARE PERFORMING
 TYPES OF ERP

ON PREMISE ERP

On-premise ERP software is enterprise resource

planning software that runs on in-house servers
at your own location, or at locations under your
control. ERP on premise isn't accessed through
the internet and cannot be used outside of a
physical work space, but can be used on different
mobile and handheld devices.
 TYPES OF ERP

CLOUD BASED ERP

A REMOTE SERVER THAT IS MANAGE BY A THIRD PARTY. CLOUD BASE

PROVIDE GREAT FLEXIBILITY TO ACCESS INFORMATION AND REPORTS
FROM ANYWHERE WITH JUST INTERNET CONNECTION
 DEPLOYMENT OPTION OF CLOUD BASED ERP

SINGLE TENANT MULTI TENANT

A SEPERATE MODEL OF ERP USED BY A SINGLE
COMPANY THAT DOES NOT SHARE SPACE WITH
OTHERS AND PROVIDE FULL CONTROL OF THE
SOFTWARE, REQUIRED ON IN-HOUSE IT TEAM TO
MANAGE THE OPERATION
MULTIPLE ORGANIZATION ACCESS THE
SAME SOFTWARE INSTANCES AND SERVER.
DOESNT NEED ENCHANCE IT TEAM
 TYPES OF ERP

HYBRID ERP

Hybrid is the midpoint between on-premise

and cloud ERP solutions. For some, it's a best
of both worlds approach, allowing you to
leverage leading, cloud-based software
alongside their reliable, tried-and-true on-
premise solution, or putting maximum
“flexibility” in their team's hands.
 TYPES OF ERP

OPEN SOURCE ERP

An open-source ERP system is an enterprise

resource planning system with publicly
available source code. Companies can access
the open-source code for free and customize
the software themselves, rather than relying
on the vendor.
 RESULT OF QUALITY ERP
IMPROVES TRANSACTION IMPROVE EFFICIENCY

with ERP Department with interconnected ERP enables quick access for
process can synchronize work to achieve clients, vendors and business
faster and better outcomes partners.

SECURITY RISKS
DATA SECURITY
Need to ensure that the systems Documents and Important Data are
are secure and take steps to place in secured place where it safe.
protect against potential data
breaches.
 THANK YOU

GROUP 7 ENEMAN20
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REFERENCES https: //ecomputernotes.com/mis/what-is-mis/explain-the-different-mis-functions
https: //www.tutorialspoint.com/management_information_system/management_information_system.htm
https: //www.wallstreetmojo.com/management-information-system/
https: //www.toppers4u.com/2020/11/management-information-system-meaning.html
https: //aspiringyouths.com/advantages-disadvantages/management-information-systems-
mis/https://www.investopedia.com/terms/e/erp.asp