According to the given statement:
An instrument that provides the data needed to effectively manage an organization and make decisions is a management information system (MIS). An accounting information system is used to locate, collect, process, and distribute economic data about a company to a variety of users (AIS).
MIS often concentrates on the financial and accounting aspects of a business, diagnosing problems and proposing solutions. The former management system, which occasionally relied on intuition and unscientific approaches and was arbitrarily constructed, has been replaced with MIS.
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