The Management Information System is an information system that helps in improved decision making. It stores up-to-date and accurate data regarding numerous organisational assets such as financials, inventory, personnel, manufacturing, project timelines, R&D, marketing, etc.
MIS system stores the data and makes it accessible to the top managers who want to run the data analysis to craft a report. MIS is like a central information systems that correlate multiple data points in order to strategize and improve operations; for example, being able to compare sales of this year to the sales year of previous year by looking at staffing levels and more to boost revenue.
MIS is the use of information technology, people, and business processes to record, store and process data to produce information that decision makers can use to make important decisions.
The following are some of the justifications for having an MIS system