Information Management and Decision Making Table of Contents

INFORMATION MANAGEMENT AND DECISION MAKING TABLE OF CONTENTS INTRODUCTION 1 TASK 11 AC 1.1 Information and data features 1 AC 1.2 Criteria for selecting appropriate information and data to support strategic decision-making 2 AC 1.3 Impact of a MIS to organization 2 TASK 23 AC 2.1 Legal responsibilities in sharing, storing and sourcing information 3 AC 2.2 Critical evaluation of when the information should be accessed, allowed and offered 4 AC 2.3 Formats in which information can be provided and the impact of using various formats 5

INFORMATION
MANAGEMENT AND
DECISION MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
AC 1.1 Information and data features..........................................................................................1
AC 1.2 Criteria for selecting appropriate information and data to support strategic decision-
making..........................................................................................................................................2
AC 1.3 Impact of a MIS to organization......................................................................................2
TASK 2............................................................................................................................................3
AC 2.1 Legal responsibilities in sharing, storing and sourcing information...............................3
AC 2.2 Critical evaluation of when the information should be accessed, allowed and offered. .4
AC 2.3 Formats in which information can be provided and the impact of using various formats
......................................................................................................................................................5
TASK 3............................................................................................................................................6
AC 3.1 Information analysis in order to identify patterns, trends and impact on strategic
decision-making...........................................................................................................................6
AC 3.2 Evaluation of various decision-making techniques and tools that can be used to
support a strategic decision..........................................................................................................6
AC 3.3 Information and data sources that are available to assist in strategic decision taking....7
TASK 4............................................................................................................................................7
AC 4.1 Methods for management information evaluation within an organization.....................7
AC 4.2 Formulation of processes and methodologies for analysing the impact of information
on the strategic decisions made....................................................................................................8
AC 4.3 Methods of information development or capture information to support and inform
strategic decision-making............................................................................................................9
CONCLUSION................................................................................................................................9
REFLECTION.................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Information management can be defined as a process through which information can used
for decision-making in a timely manner. There are various kinds of MIS that can be used by
organization for decision-making. This assignment will lay emphasis on development of
management information system for a medium-sized organization so that it can be ensured that it
conforms to legislation and provides relevant and accurate data. In this assignment is based on a
case study of a medium sized organization. This organization need to develop a MIS system that
conforms all the legislation so that it can provide relevant and accurate data
TASK 1
Data is the collection of Statistics, facts and figures that can be used for analysis or for
any kind of calculation so that it can be used further (Laudon and Laudon, 2015). Whereas,
information is valuable data or knowledge that can be used for decision-making or to support any
outcome.
AC 1.1 Information and data features
The process of converting data to information consist of six steps:
 In first stage important data is collected.
 Then manipulation of data is done so that it can be prepared for analysis and verification.
 Then the verified data is converted into machine language so that computer can process
it.
 Then processing of converted data is done so that it can be read by the computer.
 Then the processed information is interpreted and transmitted to user.
 Lastly, the converted information is stored in the system as per the convenience of the
user.
Organization can collect information from various sources such as: online, employees,
customers, system etc.
There are six main features of information and data such as:
 Data collected should be accurate and precise (Cox, 2018).
 In order to process the data, it should be valid. Only then it can be further used.
 Raw data can only be processed into information if it is reliable and consistent.
 One of the main features of data and information is their relevance and timeliness
because if the data is not relevant and is not obtained on time then it is useless.
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 It should be easily accessible and available.
 Data or information collected or to be used should be unique and quality of the data and
information should be good.
AC 1.2 Criteria for selecting appropriate information and data to support strategic decision-
making
There are various kinds of information used in an organization such as: financial
information, technology related information, employees related information etc. Criteria
can be defined as standards or principles on the basis of which decisions are being made or
judgement is being done. There are many criteria that should be applied while selecting
appropriate information and data in order to support decision-making.
 Main criteria for selecting data, are: First of all the source from where that data is
obtained should be valid. Next the data collected should be complete and consistent.
Lastly all the data collected and to be used should be accurate so that it can be converted
into information to be used for decision-making.
 Criteria for selecting information are: the quality of data to be processed into information
should be good. Information produced should define useful information with clarity (Noe
and et.al., 2017). Information to be used should be available on time, should be
presentable and should be relevant or related to the topic.
Applying these criteria can help an organization in using appropriate data or information
so that it can also be used for supporting strategic decision-making. For example, if organization
wants to filter all the employees with master’s degree then, first criteria is that all the data stored
within database should be complete, consistent and correct, so that correct information can be
extracted which will eventually help in taking correct decisions.
AC 1.3 Impact of a MIS to organization
Management Information System or MIS plays an important role within an organization.
It not only impact's an organization's functions like staffing, planning, organizing, delivering etc.
but it also impacts their productivity and performance. MIS is important for an organization it is
helps in retrieving, organizing and managing information or data. It also helps a business to
provide faster service to their customers, acquire more market in an easy manner which
directly/indirectly affects the overall performance of an organization. There are various ways
through which it impacts in organization, such as:
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 It mainly helps in increasing productivity of an organization and also helps in enhancing
their creativity. MIS can also be used to increase the creativity of an organization as well.
It can be used in different form, for different purpose, at different level of an
organization.
 It also helps in developing proper and accurate policies of an organization. It helps in
fulfilling business goals and develop strategies for each managerial level so that on the
basis of it proper policies can be developed.
 It is also used for strategic information resources. Strategic information resources is a
kind of service which is used for expert knowledge and support (Amuna, Al Shobaki and
Naser, 2017). It is used within organizations for appraisals, verification of incomes,
equity etc.
 It also helps in understanding ICT (Information and communication technology), so that
it can be used as a tool in order to access information.
 Mainly, MISm helps an organization in managing and maintaining external, internal and
corporate information. So that this information can be used for strategic decision-making.
 It is also used to support various kinds of business processes such as: product
information, customer and market information, HR information, specialist knowledge,
management information and plans etc.
In these ways' management information system can impact the selected organization
which can help their business to enhance their efficiency and for wider organizational
effectiveness.
TASK 2
AC 2.1 Legal responsibilities in sharing, storing and sourcing information
Rise of use of management information system has increased legal issues such as GDPR
challenges within organization. Organizations using MIS system has some legal responsibilities
so that these legal issues can be reduced. Legal responsibilities that an organization should keep
in mind in terms of sourcing, storing or sharing information are:
 Confidentiality and privacy: It is one of the major legal responsibility of an organization
i.e. Any kind of information related to or used by the organization should be kept
confidential and for this complete privacy should be adhered (Van Knippenberg and
et.al., 2015). Privacy and confidentiality should be adhered while sourcing any
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information or while storing or sharing any kind of information. Like all the employee’s
information stored within an organization should be kept confidential i.e. no employees
should be able to access other employees’ information.
 Software protection and copyright: Copyright of any information helps in providing
underpinning for any kind of patent or copyright information. It helps in fulfilling
responsibility of an organization in terms of storing, using or sharing any information.
Other than this it is another important legal responsibility of an organization, i.e. to
protect all the software's and data stored within them. Organizations should continuously
upgrade their software protection system in order to protect the system or software used
by them.
 Contractual obligations: Another legal responsibility in sharing, storing and sourcing
information is contractual obligations. Contractual obligations are those duties that each
party should adhere in terms of their legal responsibility that they should fulfil when
dealing with contractual agreement. Contractual agreement helps in protecting
information so that in case contract or agreement breaks then no information can be
leaked and both the parties involved in the contract can fulfil their side of obligations
legally.
Information that have restricted access within organizations are of two types, such as:
 One of the most common restricted access type of information within organization is
employee's data including their personal and their respective salaries. In order to protect
and restrict employee information access a contract is signed between organization and
employees. This contract helps in restricting and protecting employees information’s.
 Another information which has restricted access within organizations is client's
information. Only limited person within organizations have access to client's information.
AC 2.2 Critical discussion of when the information should be accessed, allowed and offered
There are various ways in which information can be accessed offered by an organization.
Information can be offered to employees in many ways. But there are different types of processes
in which it can be accessed such as:
 Lawful and fair information: Employee's data should be processed lawfully and using a
fair process (Pedrycz and Chen, 2015). Organizations can legally but fairly process their
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employee's information so that they can provide justice, health and safety and various
other beneficial information to their employees.
 Separate process for limited purpose information: Organization's should access their
employee's data for limited purpose separately i.e. they should not use their data
anywhere for any purpose. In fact their access should be limited. Only authorized persons
should be allowed to access employee's data. No random person should be allowed to
access an employee's data.
 Relevant, adequate and no excessive process: Data used by the organization should be
adequate, relevant and should not be used for any other excessive purpose i.e. should
only be used for the purpose it is obtained for. Organizations should provide their
employees with only that much data which is required and for only a particular purpose.
 Accurate and up to date information: Data used and stored by the organization should be
accurate and up to date.
 Secure information: Organizations need to ensure security of the data in order to make it
available for the employees to be used. This will help them to ensure that only allowed
employees will be able to access such data.
 Appropriate and correct information: Data provided by the organizations to their
employees should be appropriate as well as correct. This helps the employees to bring
efficiency in their work. Not only this, this information allows them to do their work
efficiently and effectively.
AC 2.3 Formats in which information can be provided and the impact of using various formats
There are many formats available in which information can be provided and each format
has its own impact, such as:
 Electronic: Information can be offered electronically with the help of any software or
computer system. This information has positive impact on the organization because if the
information is offered electronically then there are fewer chances of errors and can be
offered in a faster manner. Main advantage of this format is that all the information stored
is directly stored within the system without any errors, but this format also as one
disadvantage i.e. if the file or system gets corrupted then there is a risk that organization
can lose the data stored electronically.
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 Manually: Information can also be offered manually either in printed format or in written
formation (Janssen, van der Voort and Wahyudi, 2017). In manual format there are
chances that there might be any kind of error or there can be a delay in proving an
information. It can have a negative impact on organization as in manual format there are
chances that anything can go wrong. One main advantage of this format is that manual
data stored cannot get corrupted but it also has one disadvantage i.e. there are chances
that there can be lots of errors within the manual stored data.
 Structured: Information can also be offered in structured format. Structured information
has a positive impact on an organization as it can be used by organizations in many ways
especially for strategic decision making.
 Unstructured: Information can be offered in unstructured format. But this information
cannot be used directly for strategic decision-making.
TASK 3
AC 3.1 Information analysis in order to identify patterns, trends and impact on strategic decision-
making
Electronic information can be used to identify patterns and trends which can directly
impact strategic decision-making of an organization, such as:
 Market: Electronic information is mostly accurate and up to date. It helps in identifying
and analysing current market trend and pattern so that accurate required market
information can be obtained or processed for strategic decision-making. For example,
with the help of electronic information organization can analyse their overall
performance in the market.
 Competition: Accurate information can also be used to analyse present market
competition of the organization. It can also be used to identify the current trend so that
based on this information strategic decisions can be taken which will help the
organization in strategic decision-making. For example: by analysing organization’s as
well as their competitor’s overall performance in the market, organization can analyse
current market competition and based on this information they can build their own
marketing strategy.
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 Customer demand: Demand of the customers can also be identified with the information.
Valid, accurate information from reliable source can help the organization analysing the
change in customer demand.
 Economic state: State of economy of the company can also be identified through accurate
and proper information (Hsu and et.al., 2016). This information can be used to analyse
the economic growth of the organization and based on this information if any kind of
change is required then it can be done easily.
AC 3.2 Various decision-making techniques and tools that can be used to support a strategic
decision
There are four main types of decision-making tools such as: SWOT analysis, cost benefit
analysis, market research, feasibility study.
 SWOT analysis: it is used to access strength, weakness, threat, opportunities of a
business. It helps the managers to take advantage of organization's strengths so that they
can reduce number of weakness of the organization and convert them into its strength or
opportunity. It helps strategic decision-making process by allowing managers to analyse
the data and take decisions accordingly.
 Market research: It is another type of decision-making tool which is used to gather
information about a certain market like to analyse customer's preference, potential
customers, present competitors within that market (Bryson, 2017). This will help the
managers to take decisions which will help the organization to gain competitive
advantage.
 Cost benefit analysis: it is one of the most common type of decision-making tool which is
used to access the overall cost, potential benefits, actions that will benefit the
organization.
 Feasibility study: It is another type of decision-making tool which is used to access the
feasibility of a project i.e. whether it can be completed on time or not, whether it will be
beneficial for the business or not. This tool helps the organization in taking decisions
regarding the projects which will help the organization to increase their profitability and
will also help them to complete any project on time.
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AC 3.3 Information and data sources that are available to assist in strategic decision taking
There are two main types of information sources available that can be used in strategic
decision-making for example introducing new manufacturing process or decision to modify
company’s culture.
 Internal sources like hardware or software's used within the organization or employees
working with them.
 External sources like collecting or asking for feedbacks from their customer's or clients.
These information’s can be used for strategic decision-making in order to collect or
analyse various kinds of information such as:
 Collecting and analysing customer and market information (Stadnicka and et.al., 2017).
 Accessing and analysing specialist information.
 To process business information for decision-making
 For collecting and organizing management information and making or bring changes
within management plans.
 Managing and maintaining employee’s information.
TASK 4
AC 4.1 Methods for management information evaluation within an organization
There are various methods that can be used for management information evaluation
within an organization for strategic decision-making.
 On time: It is the basic method that can be used to evaluate management information
within an organization. If the information is used and processed on time and is available
in timely manner then it can be used for strategic decision-making (Rastegari and Mobin,
2016). For example is there is need to introduce new manufacturing process then it is
important for the organization to access information related to existing manufacturing
processes and company’s financial performance on time.
 Content: Another method that can be used for evaluation is checking the content of the
information i.e. if the content of the information is correct then it can be used for strategic
decision-making. It also helps in improving the quality of business decision-making.
 Format: Another method is to check the format of the information. If the information is in
the correct format then it can be used for evaluating management information. It also
helps in ensuring the consistency of the information.
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 Cost: Another method is to access or evaluate the overall cost of accessing or using the
information. If accessing or evaluating the information is within the budget of the
organization then it can be used to take strategic decision. But it should only be done if
the information is reliable, trusted, timely which will help in driving the business.
AC 4.2 Formulation of processes and methodologies for analysing the impact of information on
the strategic decisions made
There are various processes through which impact of information can be analysed on
strategic decision-making, such as:
 First process is to set objectives of the process or organization so that one the basis of
those objectives strategic decisions can be taken. Setting objectives of the organization
can help the business to achieve their desired goals in a better manner.
 Second process is evaluation of goals i.e. by evaluating whether the goals of the
organizations has been achieved or not. On the basis of this analysis organization can
take related strategic decisions (Nuss., 2015).
 By accessing the reason for variance in actual and targeted information or data can also
help in evaluation of management information.
 Implementation of new approaches or modification of existing approaches in order to
modify the goals so that targeted goals and objective can be achieved.
AC 4.3 Methods of information development or capture information to support and inform
strategic decision-making
There are four main methods that can be used to develop or capture information so that it
can be used to support decision-making.
 Survey: Survey is one of the best method through which required information can be
captured. Survey can be conducted with the help of questionnaire. This questionnaire can
consist of both open-ended and closed ended questions. It can easily capture required
information for decision-making. For example: For retail sector organizations survey can
help them to know their customer’s requirements in a better manner.
 Marketing campaigns: It can also be used to capture market information in which
organization deals. Marketing campaign can be used to increase customer information
and support strategic decisions that can be used to increase awareness among customers.
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For organization’s like Apple, Samsung etc. marketing campaign can help them to
introduce their products in a better manner.
 Desktop research: It can also be used to capture required information so that organization
can take required decisions in order to achieve desired goals. Desktop research can help
the organizations to analyse present competition in the market they operate in.
 Interviews: Another methods that can be used by organization to develop data collection
to inform and support strategic decision-making is interviews. By conducting interviews
organization can capture required information in an easy manner.
CONCLUSION
From the above assignment it has been summarized that management information system
plays a vital role in decision-making process. It has been analysed that for decision-making
process it is important to understand ways in which information can be shared within an
organization, this helps the organization decision-making and evaluation so that targeted
objectives and goals can be achieved.
REFLECTION
There were various things that I have learned from this assignment. I learned that every
data needs to go through a process, so that it can be converted into useful information. I also
understood that every data or information has some unique features which increases the
appropriateness of the data or information in order to be used in decision-making. I have also
learned that there are various kinds of management information system and each system uses
different kind of data. Not only this, each type of MIS system impact's an organization in
different manner and is used for taking different types of strategic decisions. I have also gained
knowledge about different kinds of legal responsibilities that are required to be adhered by the
organization whenever data or information sharing, storing or sourcing comes into picture. The
information and knowledge that I gained from this assignment is quite useful as it helped me in
understanding the value and importance of type of data or information, format in which it might
be available. Not only this I also understood that there are various factors that defines the
accuracy, usefulness and appropriateness of the information or data that is to be used within the
organization. This assignment encouraged me to do further research and understand the way in
which management information system ca be used within the organization, different ways in
which such systems are useful for the organization. This further research helped me to
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understand that only appropriateness and accuracy of data is not important but other than this
security and correct analysis of data or information is also important. There are various was that
can help in securing the information and analyse the usefulness of the information so that it can
be used in strategic decision-making.
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REFERENCES
Books and Journals
Amuna, Y.M.A., Al Shobaki, M.J. and Naser, S.S.A., 2017. The Role of Knowledge-Based
Computerized Management Information Systems in the Administrative Decision-
Making Process.
Bryson, J., 2017. Effective library and information centre management. Routledge.
Cox, D.R., 2018. Analysis of survival data. Chapman and Hall/CRC.
Hsu, W.C., and et.al., 2016. Utilization of a cloud-based diabetes management program for
insulin initiation and titration enables collaborative decision making between healthcare
providers and patients. Diabetes technology & therapeutics. 18(2). pp.59-67.
Janssen, M., van der Voort, H. and Wahyudi, A., 2017. Factors influencing big data decision-
making quality. Journal of Business Research. 70. pp.338-345.
Laudon, K.C. and Laudon, J.P., 2015. Management Information Systems: Managing the Digital
Firm Plus MyMISLab with Pearson eText--Access Card Package. Prentice Hall Press.
Noe, R.A., and et.al., 2017. Human resource management: Gaining a competitive advantage.
New York, NY: McGraw-Hill Education.
Nuss, C., 2015. Developing an Environmental Management Information System to Foster
Sustainable Decision-Making in the Energy Sector.
Pedrycz, W. and Chen, S.M. eds., 2015. Granular computing and decision-making: interactive
and iterative approaches(Vol. 10). Springer.
Rastegari, A. and Mobin, M., 2016, January. Maintenance decision making, supported by
computerized maintenance management system. In 2016 Annual Reliability and
Maintainability Symposium (RAMS) (pp. 1-8). IEEE.
Stadnicka, D., and et.al., 2017, September. Information management and decision making
supported by an intelligence system in kitchen fronts control process. In International
Conference on Intelligent Systems in Production Engineering and Maintenance (pp.
249-259). Springer, Cham.
Van Knippenberg, D., and et.al., 2015. Information, attention, and decision making.
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