In this course, you are studying managerial accounting strategies and techniques that are used to capture and report quantitative data to run an organization. In this paper, I would like for you to extend beyond the theoretical nature of your studies and investigate applying this knowledge to a real-life organizational situation, which can be real or imagined. For example, you could use your family as an organization that makes decisions based on data. Or you could imagine yourself as the president of General Motors (or the place you now work) and describe how you envision using data.
1. In the opening section of your paper, I would like for you to discuss in general terms, how quantitative data is used to help manage an organization. What are the benefits and pitfalls of data usage? Can data be used for everything? How does one decide what to use? How is cost vs. benefit used to decide what information to capture and report? This section of the paper must be at least two pages and I want for you to provide and evidence to support your conclusions and assertions. The textbook and Deming book could be cited in this section.
2. Describe the organization you are studying. What are its goals? How is it structured? How is it currently managed? This section must be at least one page.
3. In the final section of the paper, please describe how you would use data to improve the organization’s performance. Please discuss the use of statistics, benchmarking and trend analysis. Describe how data will be procured. This section of the paper must be at least two pages and I want for you to provide evidence to support your conclusions and assertions.