LITIGATION AND PRACTICE SUPPORT
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How is it that legal services have remained largely immune from
the march towards data-driven analysis and decision-making? A look
at Gartner's list of top strategic trends over the last decade shows
that "Business Intelligence and Analytics" is a perennial priority for
corporate executives. Yet when "Chief Learning Officer" magazine
surveyed corporate legal departments to ask how many of their
outside counsel provided useful business intelligence to their team,
68% of respondents said, "Zero."
In other words, leveraging powerful insights from business
intelligence tools is a priority for corporations, but legal is still le
in the dark. Why are law firms stuck with Excel when the rest of
the world consistently leverages the power of big data to drive their
business?
Overcoming Our Love of Excel
It is no secret that a huge driver in the cost of resolving legal disputes
– especially litigation – is eDiscovery. Lawyers ask questions about
the data, but answers are oen provided in difficult-to-understand
Excel spreadsheets.
Competitive advantages exist for companies that have access
to the insights provided by business intelligence (BI) platforms,
but these platforms have been difficult to deploy in legal. Recently
Fronteo, a legal services provider, commissioned third-party research
that revealed that an incredible 63 percent of responding law firms
still use manual spreadsheet entries to track eDiscovery metrics. This
despite the fact that a full 74 percent of the IT departments expressed
a need for dashboards.
by Brandon Law and Philip Weldon, CEDS
Beyond Excel: Overcoming
Obstacles to Get the Business
Intelligence You Need
Beyond Excel: Overcoming Obstacles to Get the Business Intelligence You Need
