Trends in MIS

Introduction

Management information systems are complicated decision support mechanisms that are applied by firms so as to develop their processes. In the past the MIS were tools that assisted the management acquire important choices for their operations with regard to information acquired from a number of business departments.

Trends in MIS

Enterprise Resource Planning: This is a form of MIS that is fitted in varied departments of a business so as to develop the availability of company data. With globalization of the economic market, firms are able to acquire and report financial data to the management for appropriate choices to be made (Khosrow-Pour, 2002). ERP enables the application of a computer system and better recording of company data.

Networking: This enables companies to network with others. The supply chain can be shortened with the help of electronic data interchange (EDI) to move data for ordering products. Moreover, companies are able to move their money to a number of accounts hence fast payments of bills and buying materials. It enables companies to have the relevant information hence making their operations to be effective.

Data Mining: This is a vital tendency for companies is to apply data mining tools in the acquisition of data based on client purchases among other economic information. This enables the management to interpret these details into objectives and directions for other processes.

Education: The education comes up with programs that enable students to be trained. This enables a well-rounded education using the MIS software.

Implications of Management Information System

MIS has impacted the modern commercial companies in a number of ways. First of all, MIS issues the ability of translating and sharing vital data in several departments. The system similarly creates ability to the staff to acquire a bigger duty in meeting the needs of the clients and be profitable to the firm (Oz, 2008). Moreover, data is available, precise and easier to use. Lastly, modern MIS does away with unnecessary repetition of energy.

Data Mining

This is the process of assessing information from a wide range of perspectives and summarizing them into precise details that may be applied to bring about revenue, trims costs or both. It is used for assessing data. It makes it possible for its users to assess information from a number of sections, group it and summarize the connection that exists.

Data mining is used by a number of business organizations with a rigid client focus; retail, financial, communication and marketing. It makes it possible to know the connection that exist in the inner aspects like price, product or employee skills and the outer like economic indicators, competition and client population. It makes it possible for a business to know the implication on sales, client needs and company revenue. Lastly, it makes it possible analyses details so as to see the transaction information.

In data mining, retailers are able to use records of client purchases for advertising purposes. The retailer is hence able to acquire goods and processes that meet the needs of the clients. A good example is Blockbuster Entertainment which mines its videos database and issue promotions that is reliant on the purchase history (Anderson, n.d.). It is through mining that the retailers are able get products and promotions that meet the needs of the clients.

Another good example is WalMart which is a data mining company that alters its supplier connections. It makes it possible for several suppliers to get data on their goods and undertake data assessment. The information used notes the clients buying trends and uses this detail to manage the store inventory and note emerging merchandising openings.

Data mining use in the commercial setting will affect businesses that deal in large data like customer information or products. This as it has been seen above is used to help the company manage its operations for maximum output.

References

Anderson (n.d.). Data Mining: What is Data Mining? Acquired from:

http://www.anderson.ucla.edu/faculty/jason.frand/teacher/technologies/palace/datamining  .htm

Khosrow-Pour, M. (2002). Issues and Trends of Information Technology Management in         Contemporary Organizations: 2002 Information Resources Management Association International Conference, Seattle, Washington, USA, May 19-22, 2002, Volume 1.        Seattle: Idea Group Inc (IGI). Oz, E. (2008). Management Information Systems [With Access Code]. London: Cengage    Learning.