MIS stands for management information system. Executives and the top tier management from all departments, refer to the MIS reports that are created after collecting, comparing and analyzing data related to daily tasks and overall business processes.
What is MIS Report & How It Works?
MIS report provides a summarised and bulletin view of different verticals that are required to be monitored for the proper functioning of your business. The primary use of MIS reports is to take set parameters and compare it to the performance of business operations.
They provide a concise view of a company performance in terms of revenue, orders, customer queries, HR indices, employee performance and attrition.
By analyzing the variance between the estimated target with the achieved results, businesses can adopt new practices that would result in higher performance. The primary contribution of MIS reports is to condense disparate figures to provide insights on the business model.
MIS Report in Excel
The second method is to create MIS reports in Excel format. It is necessary however, to have a good command on Excel and MIS reporting skills in order to create MIS Excel Training reports based on specific requirements.
Here are the specific stages required to create MIS reports in Microsoft Excel Training.
Before beginning the process, it is important to collect all the necessary raw data, required to create the report from different departments. Every report is specific to a department, such as sales, marketing, operations, accounts, manufacturing etc.
The next step is to mine or clean up the raw data, to filter the information that is required for the particular report.
Keep a separate sheet for data repository from where you can pick up information and include in the main report. This works as a back-end database and helps minimise the scope of errors and make the whole process systematic.
Next, with the help of Excel formulas, you can connect the back-end database to the MIS template on the spreadsheet. Excel will pull the data from the database to convert it into a well-structured report.