Research proposal Essay Example | Topics and Well Written Essays - 3000 words - 4

Research proposal - Essay Example panies in processing of data into information but also in using the information in doing business analysis, as well as in taking critical business decisions regarding future investment opportunities. Using MIS, companies can retrieve information in the form of well-documented reports that contain information about all technicalities and aspects that can influence the business at some point in future. Along with this, MIS also helps companies in setting and achieving short-term and long-term strategic goals and objectives (Earl 1998). Because of these benefits, production and manufacturing companies have started to use Management Information Systems to manage information about inventory and other business processes. However, there exist some challenges that need to be addressed in order to make an efficient use of this technology. According to Oz (2009, p.9), information is the lifeblood of any organization†. Without having significant amount of information, a company can never operate efficiently in today’s world of competition because information is the base for every successful business move. In general, management information system refers to processing of data into information in such a way that it can be used by organizations to administer different business activities. According to Abel (2008), Management Information System is an important software application that deals with the use of information technology tools to help managers and employees in performing different tasks associated with information processing and management. Management information systems perform all the tasks related to information management which include collection of data, editing of data, processing of data into required information, and generating relevant reports based on the stored data. As Dawn (2009) states, â€Å"management information systems are used by organizations to track, store, manipulate and distribute information to the appropriate people†. A management