Managing Information 1 Essay Example | Topics and Well Written Essays - 2500 words

Managing Information 1 - Essay Example Information system strategy incorporates the use of information technology and a range of software and hardware products that make the system efficient and fully functional (Carry 1988). According to Lucey (2005, p. 4) states, â€Å"the processing of data into information and communicating the resulting information to the user are the very essence of an MIS†. To align corporate strategy with information management mechanisms, companies need to integrate the use of management information systems in all departments. Management information system deals with the use of IT tools in speeding up business processes (Martin 2010). Some of the main fields for which integration of information systems can be useful include system analysis and design, artificial intelligence, health informatics, databases, software engineering, decision making, project management, and knowledge management. As Burke (n.d.) states, â€Å"MIS, or management information systems, are used to manage the data cr eated within the structure of a particular business†. ... related information, assists managers in developing corporate strategies based on information, helps in documentation of processed information, and assists managers in taking critical business decisions. The main purpose of using an information management system is to make effective use of latest IT tools and technologies that can support managers’ attempts to make efficient use of business information, as well as help them in carrying out different business related tasks and operations. Use of information systems has become almost essential in aligning business strategies with the corporate strategy because it establishes a useful link between technology and organizational departments along with providing assistance to the officials in carrying out business operations. In today’s world of competition, information systems are considered to be most significant essentials of success for any company or organization because it helps companies in taking right business decisi on in accordance with the corporate business strategy regarding any matter based on stored information. Information systems collect helps in collecting raw data, as well as in converting the data into useful information in such a way that it can be categorized and sent to concerned authorities (Earl 1988). We can take example of Carlson Investment Solutions Inc., which is a London based firm that deals with providing investment suggestions to clients based on information analysis (See appendix 1). The system works for the company in such a way that it stores all information and presents to the concerned departments is in the form of a well-documented report (Taken from Interview, case study). The system helps companies in setting and achieving long-term strategic goals and objectives (Earl 1996). The