Business Essay Example | Topics and Well Written Essays - 1000 words

Business - Essay Example In general, the role of MIS in terms of a DSS is to analyze and process business data that will aid business decision making efficiently (Nowduri 2011). For instance, MIS provides comparative sales figures pertaining to a week, revenue figures projected on assumptions of a new product and history of decisions or workarounds performed (Nowduri 2011). Types of information Systems Following are the five kinds of information system (Asemi, Safari et al. 2011) Office information system (OIS) Transaction processing system (TPS) Management information system (MIS) Decision support system (DSS) Expert system (ES) The hardware’s, software’s and networks are utilizes by the office information system (OIS) in order to improve the communication as, well as the work flow between the employees. In addition with the help of automated information system users can perform several tasks electronically while using other electronic devices such as computers etc. for instance, it is easy fo r a registration department to e-mail the class schedule to the students through internet. On the other hand if the information system is not implemented then manually the registration department has to photocopy the schedule and post it to the student’s house. The transaction processing system delineates the everyday transactions held by the organizations. Its main purpose is to confine and to develop the information that is produced by the organizations. The term transaction is described as the everyday business activities for example cash deposits, payments, orders or reservations. In fact, this activity is significantly performed by the accounting staff. The management information system (MIS) is a kind of information system that produces such information that is precise, appropriate and well structured. In addition, this information is utilizing by the managers and the other users in order to make right decisions, solves troubles, track progresses, provides reports on re gular basis (Awais, Samin et al. 2011) and manages activities. Therefore, the management information system (MIS) is also known as the management reporting systems (MRS). Furthermore, three fundamental kinds of information are provided via MIS such as (Awais, Samin et al. 2011): Example of detail report is Detailed Order Report. Example of summary report is an Inventory Summary. Example of exception report is an Inventory Exception Report. In a decision making situations an information system i.e. Decision Support System (DSS) is produced that can help the users to achieve better decisions. The data that is used by the Decision Support Systems (DSS) is either from internal or from external source. (Awais, Samin et al. 2011) The Internal sources of data might include sales, manufacturing, inventory, or financial data from an organization’s database. Data from external sources could include interest rates, population trends, and costs of new housing construction or raw material pricing. However, DSS provides a series of excellent decision making techniques. The Expert System is an information system that is designed to incarcerate and store data from human experts. Moreover, this information is utilized by the less expert employees that lack good decision making skills. This Expert System (ES) is based on two components such as, knowledge base and inference rules. Discussion One of the tight-spot in this research paper is that today managers are