Why good Management Information is so important
The purpose of management information is to inform and support the decision-makers of a business, allowing them to make better decisions, build more robust plans, and ultimately drive growth and efficiency. Good management information provides useful, actionable insights in a digestible format. Without strong MI, a business is flying blind.
MI can range from the basic to the complex, and can look both forward into the future, and back over previous reporting periods.
Management information is only beneficial if used well. It will exist for any business that is active but, if not used, it has no real purpose or benefit. Our team has produced a number of helpful blogs on this topic, which you can read using the link below.