MIS  requires a wide variety of knowledge areas including accounting, finance, marketing and manufacturing. Therefore having both  technical and practical experience in these subjects is very useful. Both technology and technology-related products are emerging at very high pace. Consequently no one possibly be proficient in all new technologies and compromises have to be taken. Many terms used in MIS are inaccurate and controversial because of high pace of new hardware, software and communication technology. MIS problems are difficult to define. Some times a situation may be seen as a problem but in fact it may be a symbol only. Not like other subjects like Physics, Chemistry that exists probably from very beginning, MIS has only been recognized as a separate field of study in 1960s. A large number of important area of MIS are still not touched as said by many professionals. There is lack of sympathetic relationship between MIS personnel and users and management and MIS personnel because employees are more loyal to their profession rather than needs of the organization. No universal standards have been established regarding how much to spend on .
We can see extremely wide spectrum of information management problems or challenges in practice. These challenges and information needs are to be solved and managed in very different ways. To enumerate and discuss all possible approaches is impossible. Still, we can distinguish a number of broad, general directions and approaches toward solution of informational problems. In particular the following challenges with their solutions are very common, and certainly belong to the most important ones. 
  Understanding the information importance in the organization — This is very important. If people in the organization do not realize the importance of data and information, and what are immediate as well as indirect effects of good and bad information management, then IT will not be used to its full potential.
  Improving the organization of existing information — Often, we do not need build a new IT system. Instead, we can take the information at hand and bring it to better shape, using various techniques, some of those are very simple. It could bring quick return at low cost.
  Informatization  of the process — A general challenge of identifying information processing operations in a work process and building IT solutions to supply these operations with information and high quality and low cost. Making processes more information-intensive has become practical necessity in virtually all areas of life today.
Information support to human activity — The same goals as in previous challenge, but a different philosophy. For knowledge work, IT systems should not control the worker, but give him or her support. This strategy should provides a variety of tools to the worker who is free to choose and apply them as he or she likes.
 Language development  — Information processing is an activity; but the activity is maybe not the most critical aspect of it. All information processing takes place in context of language. There are natural, human languages, and many more or less formal, computer languages, including various coding systems. Languages provide the context for information processing. Languages should not be taken as given; language development is an important direction of information management improvement.
 Using meta-information — Meta-information is information about information. Usually we limit our thinking to the view that information is a description of the objects in the „real world”. But information itself needs to be described. Introduction and skillful use of meta-information is a promising direction of information management improvement.
Use of templates and patterns — Template (pattern) is a set of structural features of a solution that was found to work in one situation; if extracted and stored, a template or pattern can be used to solve further, similar problems. For example, think of the role of document template in word processing.
 Creation of information model — To understand, and possibly control or operate something, a general strategy is to build a model of it. Models can be built on paper, or even made of wood; but computer modelling is superior to these approaches in several respects. Complete, large, elaborate, easily modifiable information models form the core of many important information systems.
System development — Information management problems can be of two types: one-time, or recurrent. Problems can also be simple or complex. To handle complex, recurrent informational problems, the organization has to allocate many different resources (hardware, software, operators, infrastructure). System development is the process of building these resources into assemblies that can be usable over long time and for a range of complex problems.
 Process improvement through IT — It is not enough to provide information support to and automate existing work processes. To maintain competitive advantage, organization must continuously seek ways to introduce new, efficient business models and work processes. Information technology has become a very important source and enabling factor of process innovation. There is a lot of new technology available, and organization can certainly find something that fits its profile and makes sense economically as well.
  Information design — People today want their information to come in forms that are similar to what they experience in media channels that they use. Information provided by information systems must be not only timely and correct — it must be designed in accordance to aesthetic values and customes of the information user. This places an extra burden to information system designers; a burden that is not fully met today.
 Optimal mix of information channels — It is not enough any more to build single systems. Organizations employ a multitude of information systems, IT equipment and media channels. That informational landscape has become complex, and often it is changing so fast, that nobody even has full picture of it. Still, it must be managed, somehow.
 Standardization and simplification — One strategic way to help untangle the informational problems is to actively use standardization of information system elements. Organization must follow industry-level standarization; it must also conduct standardization at its own. Without the use of standards and deliberate simplification of information management processes, system building will constrain not aid the business.
 Low Technology — Often, new technology is used where „low” technology works better. While many organizations are hypnotized by the promises of the latest technologies, a more mindful organization can often create value (and advantage) by clever use of less simple technology.

Conclusion:-

Thus, Management information system (MIS) is a system or process that provides the information necessary to manage an organization effectively. MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions. It is a difficult task to cover all the diverse areas but creates a common platform for the community users in the today’s organization.

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