Characteristics of good MIS:-

1. Completeness:-

The information should include all the elements required to make a decision, i.e it should be complete. It should show the alternatives in decision-making.

2. Clarity and conciseness:

The collected information should be perfect and concise.

3. Consistency:

The information collected by different persons should be consistent with each other.

4. Predictive ability:

MIS must give a prediction of any difficult event before its occurrence.

5. Relevant:

Only necessary information should be started, and unnecessary information should be removed to avoid any confusion.

6. Timeliness:

All the current information should be available to the management.  

7. Simple:

MIS should be simple and easy to understand.  

8. Effectiveness:

MIS should be such that important decisions can be taken on time effectively. It should be possible to present the data collected at a lower level to a higher level.

Applications of MIS:

1. To carry out market surveys to collect information about competitors so that decisions regarding product quality, quantity, and sale can be easily taken.

2. To acquire knowledge about new processes and technology.

3. Forecasting

4. For inventory management

5. For long term planning

6. For scheduling of problem

7. To search for new opportunities

8. For reservation system in airlines

9. For appropriation of financial resources

10. For controlling daily activities

11. To know government policies related to the organization.