See Emma Cueto’s timely Law360 article on Mid-Law Firms Weigh How To Retool Offices For Attys’ Return.
Law360 (March 16, 2021, 4:50 PM EDT)
Dan Safran, Unbiased Consulting President/CEO, says that while larger law firms have become quite sophisticated in their analytics and data leverage, mid-sized firms can also find data analytics to be invaluable to support management decision making. Safran states that “Law Firm leadership have depended on “gut feel” decision making for far too long. Finally, there is the education, interest and investment to harvest good, relevant data to drive improved strategy and direction”.
In the article, Safran notes that “Size does matter. Larger firms have become quite sophisticated in analytics and leverage. Over the last five to seven years, some are even adding data scientists and other roles and the reality is that the mid-market firms typically don’t have things like that.”
Safran continued, “I do think that the mid-size firms in some ways do have an opportunity to act more quickly and more deliberately. They don’t have as much data. … Moving to a more integrated approach might be easier.” Safran added, “If you’re a large firm that hasn’t been working to improve your data capability for the last 10 years. It’s tricky to jump in and get started. But a more mid-size firm … they might not have a lot of those obstacles.”
Read more about Unbiased Consulting’s work helping law firms to leverage metrics and data analytics to support Legal Process Improvement and Practice Innovation.
See the Emma Cueto’s Law360 article at: https://www.law360.com/pulse/articles/1362747/mid-law-advised-to-mind-its-metrics-to-keep-up-with-biglaw.