A management information system (MIS) gathers data and analyzes the information to aid businesses and organizations to make decisions, maximize their advantages and innovate to meet demands. An MIS provides up-to-date data to assist companies in creating value and gaining a business advantage. Data provided can relate to personnel, inventory, financial status, marketing, materials, timelines, real estate, manufacturing and research and development. Professionals then collect, store and analyze the information.
Using MIS as a support system to make productive and effective decisions promotes better communication, improves productivity, provides opportunities to explore alternatives and strengthens competitive advantage — which makes a company’s merchandise or services a better choice in the eyes of the consumer. These strategies can work for businesses, organizations or individuals in a competitive market.
An online Master of Science in Management Information Systems from Lamar University can give you a competitive edge when applying technology-based innovations in various business environments. This degree program will prepare students to use software to improve performance and support business activities while analyzing, designing and maintaining management information systems.
Benefits of Management Information Systems
Having a functional MIS enables managers to make informed business decisions regarding human resources, expenses, profits, inventory, sales, marketing and any additional issues that need addressing. MIS reports can show the total number of sales, past-due bills, lost days due to employee illness and orders to be shipped.
Information provided by MIS helps determine cost leadership, product and service differentiation and focus strategies. Businesses can use the information to lower the cost of production and their products to customers by using e-procurement systems and utilizing business-to-business and business-to-consumer models. Companies can use their information advantage to achieve the lowest operational costs and, in turn, the lowest prices.
Another way to use MIS data is to differentiate a business from all the others. This conversion consists of having valuable and unique features in the environment, décor and aesthetic of a store, having outgoing and friendly customer service and establishing a distinctive brand identity.
At times, MIS information can highlight an area where a business would benefit from changing strategy. The data can evaluate distinct possibilities and calculate the details regarding establishing, advertising and selling merchandise. This insight can help build a brand, connect with a target audience and expand marketing techniques.
How an Advanced Degree in MIS Can Propel Your Career
Professionals with a master’s degree in MIS can maximize their advantages by accessing vast amounts of information, then processing and analyzing that information to ethically meet consumer demands. Graduates of an MIS program can have lucrative roles such as data scientist, computer and information systems manager, systems analyst, app developer, web content specialist, information security analyst and information technology analyst. Lamar University’s online master’s in MIS program focuses on an assortment of critical areas including business intelligence, data mining, enterprise systems and customer relationship management (CRM) to equip professionals for a digital world with an abundance of data.