The challenge for in-house teams
There is a growing trend for legal departments – just like any other business unit – to be expected to monitor and report on their performance; however, as a perceived cost centre, the need to articulate and evidence value-add to the business and a contribution to the bottom line is even more important.
What can data analytics do for you
Data analytics can drive intelligent decision making. It offers the chance to save time, money and gain a competitive advantage. By looking at historical data, you can extrapolate lessons learned and apply best practice for the future. Matter progress can be tracked against targeted timelines, outcomes and spend. Resourcing strategy can be designed around key data insights and legal department priorities can be aligned to and tracked against the business’ strategic objectives.