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The abbreviation or full form of MIS is the Management Information System
MIS Full Form, Abbreviation & Meaning
Management Information System is a computerized database of financial information which is organized and programmed in a way enabling it to produce regular reports on operations for every level of management in a company. The main purpose of MIS is to give feedback to the managers regarding their own performance. With the help of MIS, the top management can monitor the activities of the company and measure its progress against the goals.
MIS is an electronic automation system which has a different set of functionalities such as tallying, counting in various formats, record-keeping, and several other accounting techniques which is similar to a ledger used by the businessmen to keep track of the business activities.
MIS contains revenue reports by the means of which the companies are able to identify their strengths and weaknesses and also the performance of their employees. By identifying these aspects a company can improve its business processes and operations.
- MIS picturizes the company as a whole.
- MIS acts as a communication and planning tool.
- The availability of customer data and feedback can help the company to align its business processes according to the needs of its customers. The effective management of customer data can help the company to perform direct marketing and promotion activities.
- MIS also helps the company in gaining a competitive advantage. This competitive advantage assists the company to do something better, faster, and unique when compared to the rival firms in the market.