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What is the MIS in Marketing and what does it contribute to a company?

The MIS or Marketing Information System of a company could be defined as the structured set of data, people, methods, procedures and tools arranged to generate an orderly flow of information and in order to help in the decision-making processes in the company marketing.

As we know, it is a reality that for marketing professionals it is more than necessary to have information about the environment, which is also increasingly complex and dynamic.

Likewise, we can also observe that in recent years we have managed to increase not only the amount of information available about the environment, but that we also have better management systems and strategic guidance for the needs of companies.

This incipient increase in the collection of information is due to the connection between the correct management of the data and the long-term survival of the company, and is the reason why today we increasingly hear more and more terms such as big data, Data mining, Data warehouse, DataMart, CRM, etc or classification of marketing research.

COMPONENTS OF MARKETING INFORMATION SYSTEMS (MIS)

The types of marketing information systems most used by organizations to manage their data are:

Marketing Intelligence System (Definition and explanation)

Set of procedures that provide information to the executives of a company on the state of the environment and organizational tasks.

  • Data:  Relevant information that we will collect for the subsequent analysis. The data will be mainly from the competition, distributors, transactions, customers, sales, etc. There are 2 types:
  • Primary:  They are the ones that we obtain by ourselves. There are 4 main ways:

-  Observation, through which we will study the sales techniques, the movements of the clients, the responses of the consumers, etc.

-  Experimentation, introducing stimuli in a controlled environment and systematically varying them to know the effects that these variations produce.

-  Studies, which would include survey methods, research instruments and sampling plan.

-  The subjective estimation of specialists as specialized consultants or executives experts in producing estimates.

  • Secondary: It has been produced by other people or institutions and we use them for our own benefit.
  • Data scientist:  These are professionals who are dedicated to asking questions, interpreting information and drawing conclusions with the tools of Marketing Information Systems (MIS).

CONCLUSION

Therefore and as a conclusion, we can say that to have a perfect marketing information system what we should do is:

  • If it is possible economically, collect the data ourselves (primary sources), since we will obtain them in a way that adapts as much as possible to our needs.
  • We must ensure the correct collection of data. We must ensure that the data we obtain is not biased or poorly collected, for which we must ensure that the method of obtaining data is the right one for our information system.

Finally, that the person we hire to be in charge of interpreting said data (data scientist) has experience in data analysis. Since the work of this person and how to perform data crossings will largely depend on the strategy of the company should use the appropriate data and manage the information to achieve the highest possible quality in their conclusions.

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Scene Rise

Author: Scene Rise

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