A management information system (MIS) is generally computer based. It is a combination of hardware, software, people procedures and data. The system provides managers with on-demand reports and inquiry capability as well as routine periodic report. This allows decision makers to make better more informed decisions. An essential requirement of an MIS is feedback.
The main objective of MIS is to provide information to all levels of management and at the most appropriate time at an acceptable level of management and at economical cost information is critical to success rate of business. It is the soul and the life blood of any business organization. The dynamic and competitiveness of the business environment require that mangers be equipped with accurate and adequate information which must be promptly available for effective decision making process. The ability of a manager to respond to changes is dependent on his ability to gather adequate information using latest technologies.