Describe how the AMPS model explains the data analytics process and its stages.
Understand the impact of data analytics on business and accounting.
Characterize the diversity of accounting data available to address accounting questions.
Describe how the AMPS model explains the data analytics process and its stages.
Demonstrate each of the four analytics types using the AMPS model.
Directions
The AMPS Model is a structured approach that helps organizations tackle complex business problems. By systematically breaking down challenges into manageable stages, the AMPS model enables data-driven decision-making and efficient problem resolution. Below are several business scenarios where the AMPS model can be effectively applied.
Retailers must balance inventory levels to meet demand without overstocking.
Financial institutions are constantly battling fraudulent transactions.
Companies often struggle to determine optimal pricing for products or services.
HR departments aim to retain talent and reduce turnover.
Global supply chains face disruptions from various sources.
Pick two of the above situations and provide an analysis using the AMPS model. The AMPS model can be found in Chapter 2 in Richardson et al. (2024). This document should be 600-750 words, 12pt font, double spaced, and use APA 7th edition for any references and in-text citations.
Tasks
Complete the assignment as directed in the Overview.
Submit the completed first draft of your assignment. Your work will automatically be checked by Turnitin.
Access your Turnitin report by reviewing your Submission Details for this assignment. Revise your work as needed based on the feedback.
By the due date indicated, resubmit the final version of your work, as needed.
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