Final answer:
After storing data in a Management Information System (MIS), the next step is to process it. This means organizing, analyzing, and interpreting the data to turn it into actionable information for decision-making.
Step-by-step explanation:
After a Management Information System (MIS) stores data, the next step is to process the data. This involves organizing, analyzing, and interpreting the data to convert it into useful information. The five functions of an MIS can be compared to the processes of human memory which includes encoding, storing, and retrieving information. In addition to processing data, MIS also supports decision-making by providing managers with timely and relevant information.
Stages in Management Information System
Data Collection
Data Storage
Data Processing
Information Generation
Information Dissemination
Once data is processed, the MIS helps in information generation. This stage entails converting processed data into a format that can be easily understood and utilized by the management for decision-making purposes. This is akin to the 'retrieval' function in the human memory model, where processed information is brought back into awareness for use.