Key Differences Between BI and Traditional MIS
Business Intelligence (BI) refers to state of the art, modern software which is designed to gather past as well as present data in order to facilitate strategic decision-making for the enterprises’ future benefits. Whereas, traditional Management Information Systems (MIS) is a small part of BI which is a system simply designed to manage information within an organization. Let us take a look at the key differences between BI and MIS to know which one is the best for your business in 2021. Extraction of Data The data extracted using traditional MIS is aggregate data which is not enough for formulating decisions since this data suffers from a bunch of deviations, the root cause of which simply cannot be identified. Therefore, the finance team is put under immense pressure to go through each transaction and identify this root cause from their General Ledger (GL). But when it comes to a BI Tool, all data is stored on one single system and can easily be integrated with accounts, invento...