Final answer:
Management Information Systems (MIS) are designed to manage data for organizations, and digital technology plays a crucial role in information societies. The Internet is a key part of modern telecommunications, significantly impacting the economy by facilitating the transfer of various services and products in the form of information.
Step-by-step explanation:
The means for gathering, classifying, storing, retrieving, and reporting relevant data is Management Information Systems (MIS). MIS is a computerized system that provides managers with the tools to organize, evaluate, and efficiently manage departments within an organization. In contrast, options such as Information Technology (IT) generally refer to the infrastructure and components that enable modern computing, whereas Electronic Data Interchange (EDI) is used for the computer-to-computer exchange of business documents, and The Internet and The Intranet are networks that connect computers to each other and to the global network.
Digital technology plays a significant role in postindustrial societies, where information is the most important commodity. In such societies, telecommunications have vastly improved the ease and cost-effectiveness of long-distance economic activities, and many valuable products and services are now presented in forms of information, which can be efficiently distributed through digital networks. Geographic Information Science (GIS) is an example of a technology that uses computer systems to compile and manage map data, providing detailed information about locations, enhancing multiple sectors by its applications.