The current age of information technology has an ultimate goal of economic prosperity in business prospects around the globe. Such primary driver revolves around producing, distributing, and controlling information. Since the 1970s, the digital revolution has transformed societal units with the adoption of digital devices, including companies and individuals. In this context, the processor speed has been increased due to the interconnection of multiple digital devices. Meanwhile, Gordon Bell enacted Bell’s Law, which articulates that after every decade, there will be a new industry with the advancement of computers. In the following decades, the said progress was observed in the form of personal computers, cellular phone devices, social networking businesses, 3D printing, AI cryptocurrency, etc. Similarly, Gordon Moore proposed Moore Law that in every eighteenth month, the number of transistors on IC would be doubled. With such an advancement, the processing cost will be decreased over time. Further, Nielsen’s Law stated that networking connections will be increased by up to fifty percent every year, along with diversified platforms, products, and new companies. In addition, Kryder’s Law predicted that storage capacity would be increased to exceptional rates. In other words, technology is going to change the fundamental facets of the business. So, it is mandatory for business professionals to evaluate, assess, and apply modern IT-based business models. Hence, the introduction of MIS must be introduced to business schools.
How will MIS affect me?
Undoubtedly, technology is undergoing enormous changes with time, and the success of any business relies on the adoption of emerging technology. So, MIS may have a massive effect on me, especially concerning job security. Multiple enacted and formulated laws like Moore’s law, Metcalfe’s law, and Kryeder’s law state that the processing of data, storage of information, and communicating or transferring information will pose zero cost in coming times. In this context, any specific skill can be outsourced to low biddings. The living station will have minimal effect on employment opportunities. Any person living in any country of the world can easily bid for and achieve the job work according to learned skills. Several key points may help to learn new skills like abstract reasoning, systematic thinking (connection of inputs and output for dynamic structures), a collaboration of team members for better results, and finally massive experimentation. Therefore, it may be inferred that MIS owes ultimate job security by providing sufficient benefits like marketable skill sets and ease of work.
What is MIS?
The comprehensive system deals with managing and utilizing information systems in a massive organization to achieve its strategic goals and is called the Managing Information System (MIS). The assembly of multiple components to produce information is called an Information System (IS). These components may include software, hardware, multiple procedures, data, and the personnel specialized to produce this information. However, Information Technology (IT) comprises new products, various methodologies, innovation, and peculiar standards to produce information. It is pertinent to mention that information technology mainly drives the creation of new information systems. For the effective achievement of the organization’s strategic goals, the new information systems must be managed and utilized with immense care. Because, other than the development of new information systems, it is also mandatory to learn employment of specific skills to accomplish goals. Hence, MIS indebts its existence to help massive organizations and people to progress their businesses according to the challenges of modern times. It develops and utilizes information systems in this context.
How can you use the five–component model?
The five-component model is based on a symmetric or step-by-step execution plan. These components may include hardware and people who are actors. These are called outermost components, while software and procedures are entitled to instructions for hardware and people receptively. And lastly, data is the outcome. The most important component is the human mind as the quality of information is directly linked with human thinking. By this model, one can locate the problem in a better way as well as get a creative and adequate solution. It may also be used for the assessment of new systems, new technology, and investment approach to such adoption. In addition, a new database for fulfilling the requirement of organizations can also be formulated by using the five-component model.
What is information?
Information is processed data in a refined and required form. It is derived from available facts and figures and presented in a meaningful and useful form. Various operations like sum, average, grouping, comparisons, and ordering are executed to acquire information. In a simple analogy, it can be inferred that facts on paper or digital sheets are data while useful and knowledgeable assembly of these facts in the human mind is information. The informant system (IS) uses the valuable information conceived from data to achieve the strategic goals of any organization.
What are necessary data characteristics?
The quality of information gathered from data depends upon the level of skill sets. However, good information needs several characteristics including accuracy, timeliness, relevance, sufficient/adequate, and cost-effectiveness. Accurate information can only be conceived from accurate data and for business progress accuracy is crucial. Similarly, good information demands the timely availability of data for relevant events or happenings. In addition, the data should be relevant to the subject of the required information. Further, it should be adequate to fulfill the administrable requirements i.e. neither deficient nor so long to waste time. Finally, it should be worthy concerning cost and expenses aspects.
The coming year of 2026 may have miracles in its lap for the whole of humanity. It may have the new shape of a global village that is adorned with accessible past events. The smartphone, for example, will have storage, communication, internet, and battery aspects to hundreds of times compared to the present. In organizations or educational institutes, computing devices will be linked to personal signing-in. In other words, schools, colleges, and universities will adopt classroom boxes where everyone is bound to one’s own world. In such a way, surveillance and mental polishing of students will be challenging as everyone will rely upon the unique world. It will also affect the human physique, internal body processes, and thinking patterns, etc.