Which of the following best describes a management support system?

A management support system is indeed best described as a system focused on strategic oversight and decision support. This type of system is designed to assist managers in making decisions by providing relevant data and analytical tools that facilitate planning, analysis, and evaluation of various options. It encompasses technologies and methodologies that enable managers to process information efficiently and effectively to make informed decisions regarding their organization's strategic direction.

The focus of management support systems is not on executing daily transactions, which is the role of operational systems; rather, it deals with higher-level decision-making processes that require comprehensive data analysis and foresight. Similarly, while training systems aim to enhance employee skills and knowledge, they do not center around providing support for decision-making at the management level. Additionally, while data collection and storage are essential functions in information systems, they do not encompass the analytical and strategic components that are pivotal to the function of a management support system. Thus, the correct characterization highlights its primary purpose in supporting managerial functions and enhancing decision-making capabilities.