MIS Key Points

Lecture -1:
5 functions of management:
● Planning (planning is done according to available resources,
resources are of two types, hardware and software)
● Organising
● Leading
● Controlling
● staffing

→ software is intangible
→ hardware is tangible
→ planning → management functions

When does your system become effective?

● When you rich in getting your desired results
When does your system become efficient?
● When you rich in getting your result in less time

Goals → SMART
● Goals reflect how much you are serious to achieve something
● Goals must be SMART (specific/ scalable measurable
achievable realistic time bound)

How controlling is important to achieve your goals.

Data → information → knowledge → wisdom
DRS → Decision review system
● Used in sports
● This system focuses on effectiveness to get result earlier
System components
● Connection of inter related objects is called system
● If one component destroy, whole system will be damaged
Definition of MIS
● Mis is the study of systems that are managed to process
information (data)
● Management needs information to process its 5 functions
● It is a field of study of the system that converts data into
information so that management can make better decisions

→ we take decision on the basis of information

Lecture -2:
● Management levels
- Strategy management (ESS, EIS)
❖ Who knows what to do when something is not
needed to do
❖ Top level managers of organisation do planning for
making better future decisions according to current
situation however it is not required
❖ Strategic planning is long term planning
- Tactical management (DSS, KWS, MIS, OAS, KMS)
❖ Who knows what to do when something is needed to
do
❖ Middle managers take the strategic goals set by top
management and translate them into actionable
plans.
- Operational management (TPS)
❖ Routine task management (tackles the day-to-day
operations)
❖ Frontline managers and supervisors oversee the
execution of tactical plans
❖ They handle tasks like scheduling, staffing, ensuring
quality control, and monitoring performance to
meet short-term goals (daily to 1 year).
● Types of decisions
- Unstructured (ESS, EIS)
❖ These are routine, well-defined choices with
clear-cut guidelines. There's a set of rules or
 standard operating procedures (SOPs) to follow,
making them almost formulaic
- Semi structured (DSS, KWS, MIS, OAS, KMS)
❖ These involve more complexity than structured
decisions. There are some defined guidelines,
but also room for judgment and analysis of
various factors.
- Structured (TPS) → well defined
❖ These are unique situations with no clear-cut
guidelines or precedents to rely on. They often
involve a high degree of uncertainty and require
significant judgment, creativity, and analysis of a
broader range of information.
● Several systems are needed to manage/run any
organization:
- ESS → Executive Support System - Provides high-level
information and analysis to executives for strategic
decision-making (external and internal data both are
available).
- EIS → Enterprise Information System (sometimes also
referred to as Executive Information System) -
Integrates information from various sources across
the company for a holistic view.
- DSS → Decision Support System - Assists users in
analyzing data and making complex decisions.
- KWS → Knowledge Work System - Supports knowledge
workers in creating, sharing, and applying knowledge.
- MIS → Management Information System - Generates
reports and summaries to help managers make
informed decisions.
- OAS → Office Automation System - Automates office
tasks and improves communication and
collaboration.
- KMS → Knowledge Management System - Captures,
stores, shares, and applies organizational knowledge.
 - TPS → Transaction Processing System - Processes
routine transactions like sales, inventory, and payroll.

Lecture -3:

5 VS OF DATA

1. Volume → This refers to the massive amount of data that needs to be

processed. High volume data is what makes big data "big" and what
necessitates the use of specialized tools and techniques for handling it.

2. Variety → This refers to the different types of data (structured,

semi-structured, unstructured) that make up a big data set. Big data can
include text, images, videos, sensor data, social media feeds, and mor

3. Velocity → This refers to the speed at which data is generated and needs
to be processed. Big data can be generated very quickly, in near real-time,
which requires different approaches to data analysis than traditional data
sets.

4. Veracity → This refers to the accuracy and quality of data. With so much
data coming from diverse sources, ensuring the quality of data is a
significant challenge in big data.

5. Value → This refers to the usefulness and importance of data for making
decisions. The ultimate goal of big data is to extract value from the data,
such as identifying patterns, trends, and insights that can inform better
decision-making

Input/ Output and Processing of different systems

1. MIS
- Input: High volume data (usually from TPS)
- Processing: simple models (interactive processing)
- Output: summary reports

2. DSS
- Input: Summary reports
- Processing: interactive processing
 - Output: projections/ analysis

3. KMS
- It explicits the tactic knowledge
- Tactic knowledge → hidden knowledge
- This knowledge is shared to overall organisation so that it can
save time

● MCDMs (Multi criteria decision making)

“It's a framework that helps you make choices when you have multiple
factors to consider.”

Imagine you're choosing a new apartment. You care about rent, size, location,
and amenities. An MCDM approach would help you weigh those factors and pick
the apartment that best meets your needs.

Here are two popular MCDM methods:

- VIKOR (VIse versa Kriterijumska Optimizacija Kompromisa) → This

method focuses on identifying alternatives that are close to the
"ideal" solution but also well-distributed from the "worst" solution

- TOPSIS (Technique for Order Preference by Similarity to Ideal

Solution) → This method ranks alternatives based on their similarity
to the ideal (positive ideal) and worst (negative ideal) solutions. The
ideal solution maximizes the benefit criteria and minimizes the cost
criteria, while the negative ideal solution does the opposite

● 5 function areas in every organization

1. Sales / marketing
2. manufacturing / production
3. Accounts
4. Finance
5. HR

● POS → point of sale systems

Lecture -4:

● Inventory management
- It is the process a business uses to track and control the ordering,
storing, and selling of its inventory
- The goal is to have the right amount of stock in the right place at
the right time
- Inventory management techniques that businesses can use, such as
just-in-time (JIT) management and economic order quantity (EOQ).

● EAI
- Enterprise Application integration systems
- Used as adopter between the systems
- Connects disparate systems: EAI bridges the communication gap
between different applications, allowing them to exchange data
seamlessly
- EAI ensures that any changes to data in one system are reflected in
all relevant applications, promoting data consistency

Lecture -5:

● ERP
- Enterprise resource planning
- It's a software system that businesses use to manage all their core
processes in one place.
- Imagine it as a central hub that connects all the different
departments in a company, like accounting, manufacturing,
inventory, sales, and marketing

● How does ERP work? (SAP R/III explained by shoes

scenario)
- An ERP system is made up of different software modules, each
focusing on a specific business area like accounting, inventory
management, or customer relationship management (CRM). These
modules work together seamlessly because they all tap into the
same central/ Master database
- Central database is the heart of the ERP system. It stores all the
company's data in one place, eliminating the need for separate
databases for each department. This ensures everyone has access
to the same real-time information.
Lecture -6:

● JIT (Just in time)

- refers to an inventory management method where businesses
receive goods from suppliers only as they are needed for
production.
- The core principle is to minimize the amount of inventory a company
holds on hand
- JIT focuses on receiving precise amounts just in time for production
processes

Lecture -7:

● The three eras of marketing in the history:

- Production era
- Sales area
- Marketing era

● CRM
● Types of CRM
● What is the bullwhip effect?

Lecture -8:

● Customer experience (or UX)

● E-business
● E-commerce
● Business model is defined by following:
- Concept
- Capabilities
- Value
- Why (Reason to do business)
● Two business models:
- Virtual storefront (e.g: Amazon)
 - Marketplace (e.g: ebay)

Lecture -9:

● CRM:
- Analytical
- operational
● Business modes:
- Virtual storefront
- Marketplace (exchange)
- Aggregator
- Infomediary
● ERP implementation strategies:
- Big bang approach
- Phased approach (by module and by site)
-
● TAM (Technology Acceptance Model)
● Difference between marketplace and exchange