Management Information Systems

Extract

[...] The officers in charge of the defense of the island did not have access to this information due to the lack of an effective communication system. The level of vigilance was low on December The island's radar detected the approaching waves of Japanese planes, but the officer in charge of this equipment did not have access to precise information on the movements of US planes in the area. He just thought it was the delivery of new planes that were expected within the week. [...]

[...] A system that manages an average volume of activity well can collapse under the influence of an increasing amount of information. Ultimately, manual systems result in the accumulation of huge amounts of unprocessed data. Portfolio management systems that employ spreadsheets can become unmanageable as the size of the spreadsheet increases. An institution ill prepared for rapid growth will ultimately jeopardize the quality of its services and its financial health. Conversely, an institution that puts in place a system capable of producing timely and accurate complete information on its operations, and in particular its loan portfolio, will improve its financial performance and better meet the needs of its customers. [...]

[...] Managing information is collecting, entering, storing, processing and transmitting information in the form of data. These technologies are based on the principle of binary coding, which tends to unify the means of processing and storage media of information. Information technologies consist of: hardware items: computers, peripherals, workstations, servers; intangible elements: software, databases; communication networks: telephone lines, cables, optical fibers. Properties of Information Technology The properties of information technologies are characterized by 4 axes: time compression: the processing speed is much faster than human capacities allow; the compression of space: in addition to speed, enormous amounts of information can be transmitted anywhere on the globe; multiple storage capacities on magnetic optical (DVD) media. [...]

[...] An institution will be able to manage its resources better if its information is good. A good information system could transform this institution. An organization may have capable and motivated staff, but if they do not have the information they need, it will be impossible for them to fully realize their expertise. A good information system can revolutionize the work of line staff by enabling them to better track their portfolios and better serve their clients, while working with growing numbers of clients. [...]

[...] Data + processing + context of use = information The data can then take on meaning and the information is likely to provide intelligence, knowledge. Information + reasoning = knowledge Knowledge therefore presupposes, in addition to information, reasoning that allows individuals to make associations, groupings, and generalizations. Knowledge is a set of notions and principles that a person acquires through study, observation or experience and that he can integrate into his previous learning. It is an accumulation of analyzed and interpreted information that constitutes real capital. [...]