Mod II
Mod II
BUSINESS
MODULE-2
Marketing Information System
A marketing information system is a platform for
collecting, storing, analyzing, and distributing
important marketing data received from internal and
external resources.
It provides marketers and other specialists with easy
accessibility to accurate data that helps them make
informed decisions oriented on business growth.
Whether you are a marketer or a business owner,
sooner or later, you need to take strategic decisions
to improve product
Increase market share
The more complex your marketing information
system, the more value you can get from it.
Analysis of demand and supply;
Identify business development opportunities;
Implement consumer-oriented approach;
Identify and manage business risks;
Improve the overall marketing strategy of the
company;
Keep an eye on competition;
Better control of all marketing operations.
Internal Marketing
Record Intelligence
System System
Marketing
Information
System
Marketing
Marketing
Decision
Research
System
Components of Marketing Information
System
Internal records.
To monitor cash flows, employee costs, product
inventory, sales, and marketing reports on the
performance, including current and past ones, credits,
etc.
Internal records include all the financial, transactional,
and marketing data from your performance reports.
Marketing research. This component allows to
state a specific problem as your current business
goal and investigate all the details necessary for
developing its solution.
If a person thinks of developing a new product,
one should conduct marketing research.
Stating a problem lets marketers direct all their
efforts into collecting a particular type of data
from the most meaningful sources.
Marketing intelligence.
To understand the current situation and changes in
the market, trends, competitors' strategies, recent
innovations in the market, and consumers'
preferences.
One can get it from external resources such as
journals, magazines, competitors' sites,
marketplace overviews, press, partners, suppliers,
etc
Marketing decision support system
(MDSS). This data can be retrieved from special
analytics software and services that help marketers
collect, store, and analyze data to make better
decisions.
For example, One can use specific third-party
platforms to carry out market segmentation or
discover the average costs spent on Pay Per Click
advertising by companies from that industry
Human Resource Information System
HRIS stands for Human Resources Information
System. The HRIS is a system that is used to
collect and store data on an organization’s
employees.
In most cases, an HRIS encompasses the basic
functionalities needed for end-to-end Human
Resources Management (HRM). It is a system for
recruitment, performance management, learning &
development, and more.
Applicant
Tracking System
Components of Record-keeping
HRIS HrStrategy
&Efficiency
Self-Service
compliance
Benefits of HRIS
Record-keeping. An HRIS is a record-keeping system
that keeps track of changes to anything related to
employees. The HRIS can be seen as the single source of
truth when it comes to personnel data.
compliance. Some data is collected and stored for
compliance reasons. This includes material for the
identification of employees in case of theft, fraud, or
other misbehaviors, first contact information in case of
accidents, citizens identification information for the tax
office, and expiration dates for mandatory certification.
Efficiency
Efficiency. Having all this information stored in one place not
only benefits accuracy but also saves time. Some companies
still keep a lot of data about employees as physical
paperwork. Finding the right folder, and locating the right
sheet, can take up a lot of staff time.
HR strategy. The HRIS permits the tracking of
data required to advance the HR and business strategy.
Depending on the priorities of the organization, different data
will be essential to track. This is where the HRIS shines.
Self-Service HR
A finalbenefit is the ability to offer self-service
HR to employees and managers. This enables
employees to manage their own affairs. When
done right, the HRIS can offer a good employee
experience. Keep in mind that not all HRIS
systems offer this in a user-friendly manner!
Applicant Tracking System (ATS). This software
handles all the company’s recruiting needs. It
tracks candidate information and resumes, enables
recruiters to match job openings to suitable
candidates from the company’s application pool,
and helps in guiding the hiring process.
Payroll. Payroll automates the pay process of
employees. Contractual data and information on
new hires is often entered into this system –
sometimes combined with time & attendance data
– and at the end of the month, payments orders are
created.
Financial Information System
A Financial Information System is a computer-based
information system, that gathers, stores, and analyses
the financial information which is further useful for the
decision making. Financial is also useful for the
financial planning. It helps in the decision making and it
is also work in conjunction with the decision support
system. It also reduces the paperwork and maintains all
the records up to date.
Fina
ncia
l
Acc
ount
ing
Fund Management
Controlling
The various activities under the financial
management are:
Cash management
Investment Management
Financial Planning
Capital budgeting
The various Components of Financial
Information System are
1. Financial Accounting: Financial accounting records all the
financial transactions in accounts. It records all assets,
liabilities , revenue and expenditure. Financial accounting is
useful for the maintenance of the statements.