What is MIS?

Hi,

Everyone that reads this blog can easily answer the question: What is Technology? But what is MIS? MIS or Management Information Systems is a subset of the overall internal controls of a business covering the application of people, documents, technologies, and procedures by management accountants to solve a business problem such as costing a product, service, or a business-wide strategy according to Wikipedia. In other words, if you take data from a certain product like how much sales it has made and what type of people buy this product, and then convert that data into a prediction for the product.

For example, lets say your business is a sports equipments seller (e.g Dicks Sporting Goods) and the Spalding basketballs are having the highest sales, what would you do? You would use this to your advantage by finding another similar product that are having high sales as well as the same type of people who are buying the Spalding basketballs and make a deal. Lets say air pumps are that similar product. Then you can make a deal saying if you buy 2 basketballs, you get a free air pump. Generally speaking, if you take one popular product and then find another popular one that has a similar aspect, make a deal.  

But this is just getting a nibble of MIS. If you liked this post, go ahead and dive in to more as this is a very broad topic. 

Cheers,