This final project is based on the following Harvard Business case study:
Khachatryan, D. (2014). Amarcord Incorporated: Combating money laundering using data analytics. Harvard Business Case Study. Retrieved from https://hbsp.harvard.edu/tu/54c35ef0
Assume your client accepted your urgent business proposal to design a data-driven approach to effectively accomplish the goal of fraud detection in financial institutions. Data analytics for fraud detection in financial institutions is the strategic management vision of Amarcord Inc.’s Chief Compliance Officer. Your work in teams is based on the average or aggregate monthly incoming wire transfer of $500,000 for a swimwear chain, considered highly unusual by business analysts for that business chain. In other words, it is impossible for a business chain of that size to earn such high monthly revenue.
This project is not a presentation as the case indicates; it will be submitted as a written team report.
After reading and analyzing the case, address the following:
• Identify and address the business problem and explain the need for a data analytic solution.
• Explain the data analytic approach to tackle the business problem.
• Explain the nature and structure of the received data (i.e., the average monthly revenue of $500,000) and how data inconsistencies can be resolved.
• To what extent is competitive intelligence and ethical standards relevant to your analysis and solution(s)?
• How does cultural diversity impact the problem identification and or analysis of this case?
• Elaborate on all the undertaken modeling and forecasting strategies.
• Emphasize and summarize key findings as well as observations and recommend further steps that your client should undertake in the data analysis realm which could potentially lead to another engagement with your team.
• Include how the company could work with various stakeholders currently and in the future; include desired outcomes.
• Address how the organization’s culture influenced the situation within the case and give recommendations for culture improvements and your team’s ideas about changes that support innovation and ethical conduct.
• Deliver your project report to provide clear and thorough answers that both technical and non-technical audiences will understand.
Your well written paper should meet the following requirements:
• Be at least eight pages in length, plus exhibits or illustrations
• Be divided into the following sections:
• Identification of business problem and evaluation of the need for a data analytic solution.
• Explanation of the data analytic approach to tackle the business problem.
• Explanation of the nature and structure of the received data (i.e., the average monthly revenue of $500,000) and how data inconsistencies can be resolved. Do you agree or disagree with the business analysts that the aggregate monthly revenue of swimwear is three times higher than the industry average? Justify your position.
• Evaluation of all the modeling and forecasting strategies undertaken as brainstorming solutions and so forth.
• Summary of key findings as well as observations and recommended further steps that your client should undertake in the data-analytic realm, which could potentially lead to another engagement with your team.
• Deliver your project report to provide clear and thorough answers that are both technical and non-technical audiences will understand.
