How can an MIS assist in business decision-making?

A Management Information System (MIS) plays a crucial role in business decision-making by providing valuable insights derived from various data sources. The correct choice highlights that an MIS can identify potential markets, which is essential for strategic expansion and targeting new customer segments.

An MIS combines data from different areas such as sales, market research, customer demographics, and purchasing behavior, facilitating a comprehensive understanding of market trends. This information helps businesses spot emerging opportunities, analyze market needs, and identify gaps in the current market offerings. By leveraging data effectively, businesses can make informed decisions about where to focus their marketing efforts and resources.

In contrast, focusing solely on one aspect of data, such as real-time financial information, may limit the scope of decision-making. Similarly, restricting access to customer feedback can hinder a company's ability to adapt and respond to consumer needs. Finally, concentrating exclusively on past sales does not provide a forward-looking perspective necessary for growth and market adaptation. Hence, the ability of an MIS to identify potential markets is vital to strategic planning and long-term success.