publication of the International Legal Technology Association
Issue link: https://epubs.iltanet.org/i/395170
however, the data sets look distinctly different in the spread of data points and observable patterns. The graphical representation of the data allows us to understand the numbers better and faster. By design, visuals are concise and informative. Several points can be delivered in a single graphic. And usually there is no scrolling, turning pages or flipping slides involved to get the whole picture, pun intended. Still not convinced? Let's take a look at how key performance statistics are displayed for two fictitious lawyers, Al Ligorie and Laura Norder, as it could be rendered in the Financial Dashboard, a comprehensive set of tools developed by Bryan Cave, LLP (patent pending). As shown in exhibits A and B, nearly a dozen key performance parameters are available at a glance on a single page. You can see how many billed hours the lawyers have to date, along with projections of how the hours will look by the end of the year. One can easily tell whether the lawyers will meet their annual targets set by the firm, where they stand in comparison to their peers and whether there were any performance improvements from a year before. The data are presented in simple charts that utilize a variety of color-coding and other visual cues to help a decision-maker analyze the data quickly, so they can act on the information. These graphs help the firm identify problematic areas before it is too late. Chart Analysis: Al is extremely fast with his billing and time-tracking. His leverage and originating collections are also in good shape, and there is considerable growth from the previous year. However, his billable hours fell about 30 percent during the same time frame, and responsible collections decreased even more drastically. Based on the current data, the projections are that he will miss the expected billable hour target by almost 40 percent. ILTA WHITE PAPER: OCTOBER 2014 WWW.ILTANET.ORG 12 DATA VISUALIZATION FOR LEGAL: WHY YOU NEED IT AND HOW TO START