How to Automate MIS Reports?

MIS1

Creating a Single Source of Truth

Standardization and simplicity of MIS reports is a challenge that many organizations face with the growing complexities of business. Every unit starts maintaining its own reports and often all the reports do not give consistent information and decision making takes longer as different MIS need to be reconciled. Geographical spread of an organization across various countries also makes it challenging to have standardized MIS with consistent definitions across geographies.

We will use our extensive business experience to develop an MIS engine for your organization. Building an MIS engine or an MIS platform comes after creating data warehouse and datamarts which contain multi-dimensional data. Following are the steps involved in building robust MIS capabilities in any organization:

  • Identify all business processes which need to have an MIS (Sales, Collections,    Marketing, Underwriting etc)
  • Identify measures (sale units, dollar sales)
  • Identify dimensions (product, location, time, vintage etc)
  • Determine the lowest level of summary (daily, monthly, quarterly, annually etc)
  • Agree the reporting formats that best suit the stakeholders (excel tables, bar graphs, pie    charts etc)
  • Decide the periodicity of reports

All the MIS reports would be automated so that an incoming email from client can trigger the report generation. This will help your organization build a ‘single view of truth’ by:

  • Standardization across units, functions and geographies
  • Automating the MIS
  • Consistency in numbers across organization
  • Reducing cost of producing MIS

What is Business Intelligence?

BusinessIntelligence

Business Intelligence (BI) – technology infrastructure for gaining maximum information from available data for the purpose of improving business processes. Typical BI infrastructure components are as follows: software solution for gathering, cleansing, integrating, analyzing and sharing data. Business Intelligence produces analysis and provides believable information to help making effective and high quality business decisions.

The most common kinds of Business Intelligence systems are:

  • EIS – Executive Information Systems
  • DSS – Decision Support Systems
  • MIS – Management Information Systems
  • GIS – Geographic Information Systems
  • OLAP – Online Analytical Processing and multidimensional analysis
  • CRM – Customer Relationship Management

Executive Information System (EIS)

An executive information system (EIS) is a decision support system (DSS) used to assist senior executives in the decision-making process. It does this by providing easy access to important data needed to achieve strategic goals in an organization. An EIS normally features graphical displays on an easy-to-use interface.

Executive information systems can be used in many different types of organizations to monitor enterprise performance as well as to identify opportunities and problems.

Decision Support Systems

Decision Support Systems (DSS) are a specific class of computerized information system that supports business and organizational decision-making activities. A properly designed Decision Support System is an interactive software-based system intended to help decision makers compile useful information from raw data, documents, personal knowledge, and/or business models to identify and solve problems and make decisions.

Management information system

Management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces regular reports on operations for every level of management in a company. It is usually also possible to obtain special reports from the system easily. The main purpose of the MIS is to give managers feedback about their own performance; top management can monitor the company as a whole. Information displayed by the MIS typically shows “actual” data over against “planned” results and results from a year before; thus it measures progress against goals. The MIS receives data from company units and functions. Some of the data are collected automatically from computer-linked check-out counters; others are keyed in at periodic intervals. Routine reports are pre programmed and run at intervals or on demand while others are obtained using built-in query languages; display functions built into the system are used by managers to check on status at desk-side computers connected to the MIS by networks. Many sophisticated systems also monitor and display the performance of the company’s stock.

Geographic information system

A geographic information system (GIS) lets us visualize, question, analyze, and interpret data to understand relationships, patterns, and trends.

GIS benefits organizations of all sizes and in almost every industry. There is a growing interest in and awareness of the economic and strategic value of GIS.

Online Analytical Processing and multidimensional analysis

OLAP (Online Analytical Processing) is the technology behind many Business Intelligence (BI) applications. OLAP is a powerful technology for data discovery, including capabilities for limitless report viewing, complex analytical calculations, and predictive “what if” scenario (budget, forecast) planning.

Customer Relationship Management

A CRM system is a business tool that allows you to manage all your customers, partners and prospects information all in one place. The Sales Cloud is a secure cloud based CRM system that can help every part of your business get a 360 degree view of your customer.

Business Intelligence systems based on Data Warehouse technology. A Data Warehouse(DW) gathers information from a wide range of company’s operational systems, Business Intelligence systems based on it. Data loaded to DW is usually good integrated and cleaned that allows to produce credible information which reflected so called ‘one version of the true’.