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High-level managers in businesses will often use executive information systems (a type of decision support system, or DSS), which are designed to provide up-to-date information relevant to their decision-making. They do not have clearly defined specific goals, but rather provide information relevant to as many executive decisions as practically possible. They will not usually draw automated conclusions, but rather help the manager(s) using the systems to make informed decisions. Such systems are useful for a variety of purposes, but in terms of development systems, they are probably most useful in the evolutionary prototyping method.[1][2]
Specifics
A typical executive information system (EIS) may include financial information, work in progress, inventory figures, sales figures, market trends, industry statistics, and market price of the company's own shares.[1]
Executive information systems usually must be custom-designed for each firm. Since needs, goals, and infrastructure differ from one business to another, off-the-shelf solutions of this type are sparse. They often must be designed specifically for each company.[2]An EIS is usually accessed using an executive dashboard, which displays an overview of important information.[2]At least this dashboard is sometimes provided by a third party vendor.
The hardware required by an EIS is placed into four categories: data entry devices, the central processor, data storage, and output devices.[3] However, an EIS is not as much about the hardware as it is the infrastructure. Many parts of the company go into it. To offer the minute-by-minute updates, every relevant system must report in to the EIS regularly.
References
- â 1.0 1.1 http://www.businessdictionary.com/definition/executive-information-system-EIS.html
- â 2.0 2.1 2.2 http://study.com/academy/lesson/executive-information-systems-eis-upper-management-decision-making-tools.html
- â http://www.computerbusinessresearch.com/Home/decision-making/executive-information-system