Mis for decision making

Assignment Help Finance Basics
Reference no: EM13821756

There are many solutions today that can help organizations reduce their need for an in-house MIS for decision making or at least provide better storage solutions. With the amount of data that organizations collect and utilize, they need to consider all of the available options to ensure that the system will perform according to expectations.

Another thing that you need to consider when it comes to MIS and decision-making systems is that when inaccurate or incomplete data is entered, you will get bogus results. This is also known as garbage in, garbage out (GIGO). You need to be sure to review all of the data for accuracy before any decisions are made that will affect the organization. A failure to review could result in analysts making critical decisions based on faulty data.

Research the efficacy of MIS and decision-making systems.

Respond to the following:

  • With the technology available today, could organizations get to a point where they could let the computers (information systems) generate decisions instead of managers? If yes, do you think you would truly trust the decisions the computer generated? Why or why not?
  • Cloud computing has come into the marketplace over the past few years. What are some advantages of using a cloud-based solution? Would this be something your past or current organization could utilize? Why or why not?
  • You have learned that the data utilized should align with the outcomes for which the business is striving. What if the data does not align with the business outcomes? What potential issues could this cause in terms of making an informed decision? Explain.
  • You have examined making informed decisions based on the data with the information system. Once an organization starts utilizing an information system or decision-making system, can that organization become dependent upon it for all the answers? If the systems go down, will the organization still be able to make decisions or will everything be put on hold? Explain your answer using examples to illustrate your ideas.

Write your initial response in 300-500 words. Apply APA standards to citation of sources.

Reference no: EM13821756

Questions Cloud

Increased competition due to data leakage from internet : When Technology Company faces increased competition due to data leakage from internet, what Business Information system could help them to face the competition that now has result of their research and technical details to their new product?
Experience in the public and nonprofit sector : Using the assigned readings, your work experience in the public and nonprofit sector, and the knowledge you have gained in this MPA program as a guide, address the following question in a detailed fashion:
Calculate the regression equation for preceding demand data : Using a weighted moving average with weights of 0.60, 0.30, and 0.10, find the July forecast. Remember to use the largest weight for the most recent month. Using the simple three-month moving average, find the July forecast. Using simple linear regre..
Write an essay about changing our lives : Write an essay about "Changing Our Lives".
Mis for decision making : There are many solutions today that can help organizations reduce their need for an in-house MIS for decision making or at least provide better storage solutions. With the amount of data that organizations collect and utilize, they need to conside..
Create and describe four different executional frameworks : Create and describe four different executional frameworks using the same USP. Describe a fifth framework
Playing politics is the most effective way : Why is it that sometimes "playing politics" is the most effective way of achieving objectives? Should an organization be concerned about it? why or why not?
Evaluating vendors providing cloud-based solutions : Assume you are evaluating vendors providing cloud-based solutions for your current organization or a hypothetical organization. Complete the following:
Write world view essays on islam : Write World View Essays on Islam. A world view is a fundamental or basic orientation of thinking - like a mindset - which guides a culture and / or a person's life

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd