What is management information?

Management information (MI) is information collected during the course of day-to-day business. It may be about customers, staff, calls, visits, meetings, etc. MI is not just about numbers; commentary and opinions can also be useful.

Good MI should help firm managers make good decisions.

What makes good MI?

Information that is:

• accurate;
• timely;
• relevant; and
• consistent.

Although it is sometimes necessary to produce ad-hoc MI, it’s normally a better idea to produce and monitor it regularly.