Building the data-driven law firm. (2022)

• Record Type: Book
• Further Information: Note: Edited by Alex Davies.
• Editors: Davies, Alex, 1979-
• Contents: Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . viiAbout the authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xiChapter 1: A single source of truth for your firmBy David Curle, legal content and research lead, LiteraIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Removing barriers that separate data into silos . . . . . . . . . . . . . . . . . . . . . . . 1A single source of truth for strategic planning . . . . . . . . . . . . . . . . . . . . . . . . 2A single source of truth for marketing and business development . . . . 3Data in marketing strategy and communications..................... 4Data in biography content management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5A single source of truth for winning more business – pricing and scoping . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5A single source of truth for service delivery excellence . . . . . . . . . . . . . . . . 6Experience management for staffing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6Collaboration – identifying and addressing white space . . . . . . . . . . . . . . 7Legal project management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8A single source of truth as the engine for strategic growth . . . . . . . . . . . 9Chapter 2: Unlocking contractual dataBy Shilpa Bhandarkar and Doug Donahue, Linklaters | CreateiQDefining “contractual” data and appreciating its potential . . . . . . . . . . . 11Accessibility of contractual data and the need for “structured” data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12What digital platforms and structured data enable us to do . . . . . . . . . 14What this looks like in practice: Derivatives industry case study – ISDA Create . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16What does this mean for law firms? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Chapter 3: Law firms’ approach to talent and the current lack of data collectionBy Phil Burdon and Tom Spence, Donoma AdvisorsIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21What areas of data are currently used in the industry? . . . . . . . . . . . . . . . 22Is there greater potential to use people data? . . . . . . . . . . . . . . . . . . . . . . . . 24Desire for change exists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Challenges for change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25Critical factors for success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29Chapter 4: Data BitesBy Joanne Frears, solicitor, Lionshead LawDefinitions and interpretation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31Big Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32Big Data, smart data, and value-add . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34Data, trust, and confidence in the profession . . . . . . . . . . . . . . . . . . . . . . . . . 36Outliers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40Chapter 5: Data in a remote environmentBy Silvia Bauer, Luther Rechtsanwaltsgesellschaft mbHIntroduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43General data protection requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44Regulations for technical-organizational measures for mobile working . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47Data exchange . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50Control rights for mobile working . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52Chapter 6: Building a data-driven business development strategyBy Yolanda Cartusciello, PP&C ConsultingLearnings from data: people say one thing and do another . . . . . . . . . . 55Bringing data into content marketing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56Using data to inform business development . . . . . . . . . . . . . . . . . . . . . . . . . . 58Using data to inform the “go/no go process” . . . . . . . . . . . . . . . . . . . . . . . . . . 60Using data to improve proposals and interviews . . . . . . . . . . . . . . . . . . . . . . 61Using data to improve service delivery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62The new data frontier . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63Chapter 7: Analyzing data to increase efficiencies – the client’s perspectiveBy Mori Kabiri, InfiniGlobe LLCWhat are metrics, KPIs, and KRIs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65What’s the report on reports? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67Where to source the freshest data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68Financial reports that make cents (sense) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69Operations analysis and results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71More advanced invoice data analytics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76Chapter 8: Why your data might be uselessBy Jaap Bosman, consultant – partnerSnake oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79Data, an early experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8025 percent savings on external legal spend . . . . . . . . . . . . . . . . . . . . . . . . . . . 81CRM frustrations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82Financial analysis – risks and shortcomings . . . . . . . . . . . . . . . . . . . . . . . . . . . 83Much of the data is “useless” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84Data analysis for law firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85Prediction and prevention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86Data are the alpha and the omega . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86Chapter 9: Data in the 2020sBy Paul Brook, Dell TechnologiesData at the top table . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90Hot or not? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93Threats and opportunities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101About Globe Law and Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103
• Edition: Second edition
• Publisher Details: London : Globe Law and Business
• Publication Date: 2022
• Extent: 1 online resource, illustrations
• Subjects: 340.068; Law offices; Law offices -- Decision making; Big data
• Languages: English
• ISBNs: 9781787429239; 9781787429246
• Related ISBNs: 9781787429222
• Notes: Note: Includes bibliographical references.; Note: Description based on CIP data; resource not viewed.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.