Are intangible benefits of information systems?
The are intangible benefits of information systems include: improved decision making, better customer service, increased efficiency and productivity, and enhanced competitive advantage. They also allow organizations to create new business opportunities, support organizational change and enable better communication and collaboration.
More accurate data for strategic decisions: MIS automatically processes incoming data to make administrative tasks more effective and efficient, and with the help of internet technology, you can retrieve the data that is required in real-time. This data can also be used to analyze current trends and help you make decisions that will benefit the company in the long run.
Improved customer service: Information systems collect and store a vast amount of information about your customers, their spending habits, demographics and complaints, which can help you offer them a higher level of service. It can also provide insights into what you can do to improve your existing products and services and expand into new markets.
Increased revenue: This can be a short-term or long-term benefit. It can come from new product launches or an increase in subscriptions. It can also be from an improvement in the overall user experience, which makes it easier for your customers to use your product.
Reduction of overall risk: This benefit can come from telematics, for example, which helps fleets reduce accidents and speeding incidents. It can also be from better driver training and a broader range of tools that keep vehicles in good operating condition.