Introduction

The scope of Management Information system basically lies in collecting and maintaining Data for future analysis

It can be considered a systematic collection of Data using technology to its best in todays age of internet
Over the years, MIS has been used in various sectors like retail, electricity providing companies to maintain consumer data like name, address, bills, electricity consumption units etc

MIS TODAY
To inform the management of the on going activities in the company The ongoing operations. MIS informs the organisation about the implications it can face in the near future This helps management to operate proactively It is also a platform for the future as to what can be done

Education

Corporate

Trends in MIS

Networking

Data Mining

Careers

Education
Many colleges & universities have developed educational programs

Virtual degrees are offered by a lot of websites which combine general business courses with a mix of computer programming and management classes

Networking
Cloud Computing

Networking
Manufacturing firms can shorten their supply chain

Networking also allows companies to transfer money through several bank accounts
An MIS ensures that management has all the pertinent information

Career in MIS

Advantages and Benefits of MIS in Your Career

Here are just a few of the advantages of making MIS your major:
Global trend of increasing amounts of Computer related positions and knowledge of information systems Above average salaries compared to most business majors, with many top level positions available One of the fastest growing sectors for creation of new job positions in the world Ability to work in many different industries Opens doors to multiple types of jobs, many of them high-level Gives you the skills and training with new technology to ensure your job skills are in demand in the workplace, and are not outdated

Industries with Many MIS Jobs

Positions available in many sectors including:
-

Insurance
Energy Finance Consulting Public Accounting Aerospace Information Technology

Career Opportunities in MIS

Some of the most common positions available in MIS include:
Business Analyst Systems Analyst Database Administrator Security Officer Network Administrator

Project Manager

What is Data Mining?

Data mining is a field at the intersection of computer science and statistics

It utilizes methods at the intersection of artificial intelligence, machine learning, statistics, and database systems.

The overall goal of the data mining process is to extract information from a data set and transform it into an understandable structure for further use.

Applications of Data Mining Retailing and Sales Banking Manufacturing and production

Predicting sales Determining correct inventory levels and distribution schedules

Forecasting levels of bad loans & fraudulent credit card use. Credit card spending Customer profiles most likely to respond to loan offers etc.

Predicting machinery failures Finding key factors that control optimization of manufacturing capacity.

Brokerage and Securities trading

Predicting when bond prices will change Forecasting the range of stock uctuations for particular issues and the over-all market. Determining when to buy or sell stocks.

Insurance

Forecasting claim amounts and medical coverage costs. Classifying the most important elements that affect medical coverage. Predicting which customers will buy new insurance policies.

Computer hardware and software

Police work

Predicting disk-drive failures. Forecasting how long it will take to create new chips Predicting potential security violations.

Tracking crime patterns, locations, and criminal behaviour. Identifying attributes to assist in solving criminal cases.

Government and Defence

Forecasting the cost of moving military equipment testing strategies for potential military engagements. Predicting resource consumption.

Airlines

Capturing data on where customers are ying and the ultimate destination of passengers who change carriers in hub cities.

Health Care

Correlating demographics of patients with critical illnesses. Developing better insights on symptoms and their causes and how to provide proper treatments.

Broadcasting

Predicting what is best to air during prime time and how to maximize returns by interjecting advertisements.

Marketing

Classifying customer demographics that can be used to predict which customers will respond to a mailing or buy a particular product. Collect information regarding consumer purchases and other economic trends. Forecasting models developed by MIS software's that project emerging consumer markets for profitable operations.

Corporate- GST Tax

- Presently, the goods, service and exercise tax is paid separately.

MIS gives a forecast - Based on various manufacturing expenses and the amount of tax to be paid, the profit margins are decided.

Corporate- GST Tax

-A new type of tax which will combine sale, excise and service tax - Companies can refer to the systemic data and know how to cut their cost, how to utilise their present inventory - MIS will provide information and suggest the organisation how to optimise the current situation and maximise their profits.

Corporate- Increase Employee Efficiency

-Employees in Corporate fill in time- sheets - This tracks down their work routine - The information includes employee details, no of hours, kind of work done, leave record etc.

Corporate- Increase Employee Efficiency

In the future the track record can be referred to prepare a solution sheet which includes -Manpower required for a similar project -The kind of skill set required - The amount of hours or time required to finish a particular project

Members
Aakash Chaturvedi Tehseen Chauhan Saleem Dalwai Supriya Gunthey(24) Mishika Parikh Nitesh Purohit Rini Singh