Q. What is the term used to describe the decay of the validity or value of information with time and usage?

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Q. How does the frequency of data capture and transmission affect the value of information?

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Q. What is essential for information to be useful in supporting corporate management decisions?

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Q. Why is reliability crucial for information or data used in information systems or MIS?

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Q. What measure assesses the degree of success of all information systems?

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Q. How can personal bias affect the quality of information in an organization?

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Q. Why is transparency crucial in the collection and capturing of information for MIS?

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Q. What is crucial to justify the costs in procuring information?

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Q. What was the predominant type of information system before the advent of computers and information technology?

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Q. How has information management evolved in the age of information technology and computers?

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Q. What is the primary advantage of automated (computerized) systems in business organizations?

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Q. How does an open system defined in the context of MIS in insurance business?

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Q. What characterizes a closed system in the context of information systems?

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Q. How is a deterministic system defined in the context of MIS in insurance business?

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Q. What is the primary focus of Transaction Process System (TPS) in business organizations?

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Q. What characterizes MIS in the context of an organization's information system?

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Q. According to Davis and Olson, how is MIS defined?

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Q. What is the primary focus of Decision Support System (DSS) in assisting management?

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Q. In what situations is DSS particularly useful and important?

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Q. What is the primary orientation of an effective Management Information System (MIS)?

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