-What is MIS? -What is systems thinking? -Data vs. Information vs. BI vs. Knowledge

-What is MIS?
-What is systems thinking?
-Data vs. Information vs. BI vs. Knowledge

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Answer #1

Ans 1: MIS is the use of information technology, people, and business processes to record, store and process data to produce information that decision-makers can use to make day to day decisions. MIS is the acronym for Management Information Systems. In a nutshell, MIS is a collection of systems, hardware, procedures, and people that all work together to process, store, and produce information that is useful to the organization.

Ans 2: Systems thinking is a holistic approach to analysis that focuses on the way that a system's constituent parts interrelate and how systems work over time and within the context of larger systems. The systems thinking approach contrasts with traditional analysis, which studies systems by breaking them down into their separate elements. Systems thinking can be used in any area of research and has been applied to the study of medical, environmental, political, economic, human resources, and educational systems, among many others.

Ans 3:

Data, information, and intelligence have major implications for your business. And, yes, you need all three in order to enable better decision-making and strategy.

Data in its rawest form is a recorded truth from a point in time. It’s a snapshot of an event. That event might be a conversation, a transaction, or an interaction with your company’s website. Data is the collection of outcomes from those events that is then recorded in a quantifiable way so businesses can easily review them. They’re statements of fact and cannot be contested.

Information is a simplistic way of bringing data together. You will have information, not data when you take data from an event and put it into a narrative. It’s the context of data helping you answer questions such as:

  • How many clients operate in EMEA?
  • What is our churn rate?
  • How long is our sales cycle?

The answers to those questions are what create information. It’s all about turning data points into something that informs you about your business.

Intelligence takes it a step further and uses the information to drive decisions. Instead of telling a story (like information does), intelligence paints a picture. For example, if you’re selling to more people in EMEA, intelligence answers why that might be. Intelligence will look at the number of events, ad spend, or marketing campaigns EMEA clients receive and compare them to other clients in other regions and markets. Through this analysis, you might see that there are a greater number of client interactions (events, emails, or meetings) in the EMEA region and deduce that you need to do the same in North America to bring sales up.

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