P4- Describe the features and functions of information systems (Types of Information Systems)

Types of Information System
Type	Features	Benefits	Effectiveness Criteria Accuracy, Sustainability, Response times, Confidence
Management Information System	A management information system is very useful for a business as it allows controlling of information passed through which can be internal and external, there are normally tools for managing data. Some of the features are that it can manage other department’s efficiently such as marketing, finance and human resources, this way the managers of these departments can get this data quickly and easily. Management Information system is also useful for decision making as you can input queries into the information system and can have a fast response time because it’s predetermined.	An information management system can provide up to 1-1000 users a place which means many people can you use the system so it won’t halt work times, this is because the system is computerised. Another benefit is that system is used to store data so it can store it in a logical way which means finding the information is easy and quick. There are many other benefits of MIS System but another main one is that the system is likely to develop so basically you can make minor improvements to the system which will allow it to function better. For example If there were problems with the mechanics such as it cannot produce reports for departments fast enough, they can improve this by making sure the data is retrieved earlier.	An MIS System has to be accurate as it can store the information in a logical way such as A-Z and number order, so when searching for certain files through system with different tags and has to come up with accurate search results so the business can you use it otherwise they would have to manually search for it which would waste more time. The MIS System manages all the other systems so it has to sustain throughout the use of it. For this the company would have to by a stable computerised system so they don’t have to waste money on repairs or upgrading the system. When a business purchases the system it also has to have a fast response time which can improve getting information quicker for the business leading to the them more time making decisions. As always the business needs to have confidence in the system allowing them to link the MIS System to other systems which can make things easier for the organisation.
Marketing Information Systems	A marketing information system is an information system that will collect and organise marketing data such as packaging, promotion material and pricing. With this data they can make decisions resulting in a good outcome and leading the business to success. To make this a good working system there’s to be good features in place such as regularly schedule reports for managers so they do not miss out on important details. Another feature of this system is it must carry on collecting information within internal and external sources at all times so they have an advantage to competitors and make sure the information is still valid to make decisions from.	There are many benefits of a good marketing system, one of them being its very good at keep track of margins and profits of different products or services the business sells, with this amazing system in place you can avoid crisis by making sure the right product/ service is sold more than the others. Another benefit is that if the system is well built you can analyse and ahead for future events, for example Matlin Insurance would sell more insurance policies in Holiday Breaks as more people will be going on holidays more using their car, this system can also help market them as well. Marketing information system can also monitor other competitors, like what they have been up to and there next move, this is a benefit because the business has a upper hand against other businesses.	Marketing Information System has to be effective in different criteria’s, one of them being accuracy, the data it collects must be accurate because they will most likely use it and base decisions of it. For example if this system predicts other competitors are making more sales and highering the costs of products and this information is wrong, this could pontientally lead the business to wrong decision. The system also has to be sustainable throughout its use, so it must carry on for a long period of time otherwise it will be no use because it’s a complex system to setup in the first place requiring a lot of money and staff. Response time for a MIS system must be quick and provide information suffiently and quickly otherwise the business won’t have information to respond too. The organisation also must have full confidence in the system for it to be running, it must be effective in meeting the criteria’s it was set to do and meet all the other points.
Financial Information Systems	A financial information systems is a system that sorts and analyse financial data such as databases, statements, balance sheets, cash flows etc. This kind of system can help with a business and the manager of this department as it allows for better planning in the future as it allows them to track important financial events throughout the year. If the information is analysed properly you can make decisions with this data leading to making sure they earn more profit. Financial information systems can also save a lot f time and are efficient because they can calculate important equations to see how profit the business it making.	There are many benefits with a FIMS System as it can make sure the information gathered in a good time and before important deadlines. This system can benefit the business to make sure the information is accurate and is from a reliable source, otherwise it might lead to complications within the other business. Another benefit it helps with the business being eco-friendly as it allows them to minimize the amount of paper work so they don’t have to buy extra cabinets to store the paper and folders and furthermore paper work might get lost. The final benefit of this system is that it can be integrated into most systems as its quite simple to setup so the business can lower its operational costs and leading to less administration to monitor the system.	The financial system has to provide accurate information at all times because the business will constantly use it to monitor their expenses and profits, it the system provided wrong data such as sales reports from last year and wasn’t updating regularly the business wouldn’t be able to use it. As with all the systems it has to sustain throughout its use, sometimes it can be made even better by having a better relation with the hardware, software and data controlling its working with. Financial Information systems need a good response time so the information its retrieving has to be given to the business in a appropriate time, for example if the business wanted produce reports of last week’s profits and loss and it took a couple of days this would be useless for the organisation as they could have possibly ordered more stock etc. The FIS System needs to reliable at all times so the organisation can be confident that it is going to supply information especially when they need it the most.
Human resources Information Systems	Human Resources information system is more overall system that can manage different things. Some of the things it can take care of are payroll management for employees within the business, this can be done automatically so they get paid within certain time periods so they don’t have manually do it leading to more staff and money required for this. Furthermore it can also help with training new staff for the business as it can analyse potentially applicants who could be suitable for the job and maybe do background checks on employees.	There are many benefits of a HRIS System that is can reduce errors that maybe employees might not be able to spot easily such as when hiring employees the can so a solid background check to make sure the not hiring the wrong person. Another benefit is because it’s such a well-rounded system you can create reports and presentations through the software with the data being from other departments. The third benefit of this system is it’s a self-services system which means it will automatically process and report data through, again saving money for the organisation and extra main power.	HRIS System must produce accurate information for the administrators, this is because they will probably be presenting the information to the managers and if they get wrong or invalid information the managers don’t know if the business is on track or not. HRIS system must be sustainable through the correct time periods, if it lacks in this the business can even come to a halt. The system must have a good response time, even though it has large amounts of data to process it has to check whether it’s suitable for the purpose, all within a good time limit. As with the other systems the organisation must have trust and confidence in the system