A management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces reports on operations for every level of management in a company at specified intervals. It is usually also possible to obtain customized reports from the system based on requirement of managers. The main purpose of the MIS is to give managers feedback about their own performance; top management can monitor the company as a whole. Information displayed by the MIS typically shows “actual” data over against “planned” results and results from a year before; thus it measures progress against goals.
Business Intelligence covers all the process from the source data to the final reporting.
In terms of reporting the data to the management BI is an advanced process of reporting which is applies more analytics and visualization techniques over the data for easy consumption of the users.