Management Information Systems (MIS)

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Management Information
Systems (MIS)
AST 205 Chapter 7 Notes
What is a Management Information
System
• A continuous flow of business
information which ultimately aids a
manager in the decisions that must
be made in order to efficiently run
a business.
Some questions to ask about your
MIS:
• -What type of data do I need?
• Expense reports
• Sales volume report
• Income for a previous period
• -What format does that data need
to be in?
• Weekly/monthly/quarterly/yearly
reports
• Spreadsheet
• Tables/Graphs
MIS Questions Ctn.
• -How will use that data?
• To
• To
• To
• To
monitor
make decisions
flag areas of concern
compare with other operations
• -How will I collect this data?
• Who collects
• Where recorded
• What is recorded
MIS Questions ctn.
• -Why do we collect this data?
• Track cash flows
• Track financial position
• Tax reasons
• Decision making
A MIS should provide information
on 5 key areas:
• Human Resources
• time worked
• tracking time off
• work orders- time allotted to a job
Financial
• Material on Hand- all tangible
assets
• -condition
• -ownership status
• -legal information
• -inventory
Aviation Operations
• -line service- revs. & Exp.
• -Flight Instruction/charter• -Maintenance- volume, efficiency
Tax Information
• -those owed & collected from cust.
Analysis
• All this information is no good
unless we have a way to analyze &
interpret it
• 2 fold objective of our analysis:
• To determine if goals are being met
• To identify areas of needed improvement
Analysis ctn.
• Accounting systems provide the
raw data; it is up to managers to
analyze this info. By applying
standards to judge from• Results from previous periods
• Contrast with industry averages
• Compare w/ competition if possible
Examples
• FBO Manager
• TotalFBO®