DEFINITION AND MEANING OF MANAGEMENT INFORMATION SYSTEM
There are numerous definitions of Management Information System. Yet the fundamental concept remains essentially the same. Management Information System can be defined as a collection of data processing equipment, procedures, software and people that integrates the sub-systems of the organisation and provides information for decision making on planning and control operations. In other words, Management Information System is an integrated user-machine system that monitors and retrieves data from the environment, captures data from transactions and operations within the firm, filters, organises and selects data and presents them as information to managers, and also provides the means for managers to generate information as desired. In simple terms Management Information System is any organised approach for obtaining relevant and timely information on which to base management decisions. Historically, accounting systems provide information for planning and control in business. Managers have always had sources of information. But Management Information System, with computerised processing of data provides a comprehensive system of information. Management Information System is a powerful method for aiding managers in operations analysis for solving problems and making decisions.