Chapter 1 talks about the essentials of MIS, and why it is important as a class while in business school. Moore’s law stats that technology is always improving. Technology doubles every 18 months, while prices halves. Because of this, the cost of data communication and data storage is essentially zero. MIS provides business professionals with the needs/skills of being able to assess, evaluate, and apply emerging information technology to business.
Abstraction, systems thinking, collaboration, experimentation are four key skills learned in MIS, and applied in the business world. These skills also correlate with having job security. Management information systems is the development and use of information systems that help businesses achieve their goals and objectives. The three key elements of MIS are development and use, information systems, and business goals and objectives. The five component framework are present in every form of information system. It is made up of technological elements(hardware/software) and human elements. Together, it is what makes an IS function correctly.
You are the most important component. If you don’t know what to do with information it produces, you’re wasting your time and money. The quality of your thinking is a large part of the quality of the information system. Information is knowledge derived from data, whereas data is defined as recorded facts or figures. Information is presented in a meaningful context. Information is not weighed the same since some information is more valuable than others based on how accurate, timely, relevant, sufficient, and is it worth its cost.
IT and IS are two different things. IT refers to products, methods, inventions, and standards that are used for the purpose of producing information, while IS is an assembly of hardware, software, data, procedures, and people that produces information.
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