“Internal Information is used for day-to-day decision making whereas external information is crucial for long-term planning”. Comment.

The statement, "Internal information is used for day-to-day decision making whereas external information is crucial for long-term planning," highlights a fundamental distinction in the role and significance of different types of information in the context of Management Information Systems (MIS). To provide a comprehensive response, we need to understand the nature and purposes of both internal and external information in the context of MIS.

Internal Information:

Internal information refers to data and information that is generated and used within an organization. It includes information collected from various operational processes, databases, and systems within the company. This information is primarily used for day-to-day decision-making and the routine functioning of the organization. Here are some key points to consider:

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