Marketing Information Systems

Topics: Decision support system, Information systems, Decision theory Pages: 4 (1047 words) Published: December 19, 2012
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Article Title: “Marketing Information Systems as a Driver of an Organization’s Competitive Advantage” Journal Title: Journal of Internet Banking and Commerce
Date/Issue: 2010, Vol. 15, No.3
Authors: Bernard F. Kubiak, Michał F. Kowalik
Summary:
In today's world, companies must keep up with the speed of changing market environment and conditions, adapt their decision making processes quickly. The most important factor to help is information that is provided by information technology systems.

Based on the findings of a research this author conducted on several large companies, a broad model of MIS was built. According to this model, today's systems can be classified in six groups; 1. basic processes group which conducts standard and special market information sharing 2. advanced processes group which conducts primary and secondary data mining, business forecasting 3. market monitoring group which conducts the constant comparison of company's objectives versus the results 4. educational processes group which is responsible for the knowledge capital gathering inside the organization 5. administrative processes group which covers other marketing information processes not included in other groups like data purchase, upload, quality, verification, MIS expansion.

Following activities are more advanced processes that are further expanded from the basic ones, where more complex actions are taking place; 1. Business forecasting steps: research problem is formulated, limitations are identified and statistical data is reviewed, expert group is gathered for modeling, forecasting is applied by evaluating its accuracy and need for refreshment. 2. Consolidation of secondary data: research problem is formulated, available information is analyzed, a decision is made whether further information is necessary, initial information is analyzed and determined if useful or not, available information is merged with conclusion and final research is...
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