That chip will not track amplitude. It is a digital comparator.
That means it has two inputs, A and B. If voltage A is higher than B the the output is high, if voltage A is lower than B then the output is low.
Sound is a constantly changing voltage so this chip by itself will not track any changes in amplitude.
If you have a peak detectorhttp://www.allaboutcircuits.com/vol_3/chpt_3/5.html
Then you could use this chip to trigger when the peak of the sound is greater than a certain fixed level, but I am not sure if this is what you want.
Note that the peak level of a sound, is not very correlated to the perceived loudness of a sound.