Discuss The Importance Of Information Systems

This assignment will focus on the importance of information systems for running and managing a business today. An information system is an integrated set of components for collecting, storing, and processing data and for providing information, knowledge, and digital products. Business firms and other organizations rely on information systems to carry out and manage their operations, interact with their customers and suppliers, and compete in the marketplace. Information systems are used to run interorganizational supply chains and electronic markets. Encyclopaedia Britannica. (2017). information system. [online] Available at: https://www.britannica.com/topic/information-system [Accessed 20 Nov. 2017]. The purpose of information systems can

Information systems provide businesses with many different benefits which help to run and manage the business more efficiently. Globalization is a big benefit to the business; information systems enables businesses to see the world as one market. With the use of social media and the internet the business is easily accessible to anyone across the world, open 24/7 365 days a year and as a result can reach a much larger target market, increasing their number of potential customers and potential sales. Information systems also allow businesses to provide their customers and shareholders with up to date and accurate information on a regular basis. Businesses can also conduct market research more effectively with the use of information systems, there is no longer a need to go out into the field and spend all day asking members of the public to complete a survey and to give their opinions on the product or idea. Instead this can all be done online through online surveys and questionnaires saving the business a lot of time and money. Information systems can also save businesses money by cutting costs in the production process and increasing

Webopedia.com. (2017). What is MIS - Management Information System? Webopedia Definition. [online] Available at: https://www.webopedia.com/TERM/M/MIS.html [Accessed 28 Nov. 2017]. These systems strengthen the operation of a business and include everything from routine DP, transaction processing activities, through to decision oriented support. MIS is the instrumentation of an organisation. Their interfaces to the human controllers serve as dials and gauges that allow these controllers to read off the current state of their organisation. They may record and model all or part of the organisations activities and provide indicators of any actual or predicted change in state. Of most value, they record or predict the rate, direction and timing of such changes. When a business event occurs, the event provides the raw material for the MIS. The event may be recorded, appropriately stored, transmitted,