How do managed service providers and management information systems support business operations?

"Exhibit 13.5 Structure of an ASP Relationship (Attribution: Copyright Rice University, OpenStax, under CC BY 4.0 license.) Managed service providers (MSP) represent the next generation of ASPs, offering greater customization and expanded capabilities that include business processes and complete management of the network servers. The global market for managed IT services reached $149.1 billion in 2016. This market is estimated to reach $256.5 billion in 2021, from $166.7 billion in 2017, at a compound annual growth rate of 11.5 percent for the period 2018 through 2021. 11 13.3 Management Information Systems 3. What types of systems make up a typical company’s management information system? Whereas individuals use business productivity software such as word processing, spreadsheet, and graphics programs to accomplish a variety of tasks, the job of managing a company’s information needs falls to management information systems: users, hardware, and software that support decision-making. Information systems collect and store the company’s key data and produce the information managers need for analysis, control, and decision-making. Factories use computer-based information systems to automate production processes and order and monitor inventory. Most companies use them to process customer orders and handle billing and vendor payments. C O N C E P T C H E C K 1. What is a computer network? What benefits do companies gain by using networks? 2. How do a LAN and a WAN differ? Why would a company use a wireless network? 3. What advantages do VPNs offer a company? What about the cloud, ASPs, and MSPs?"