Dashboarding for Value

The pressure on legal organizations for alignment with the needs of the businesses they serve fuels an appetite for data, in the form of operational metrics, Key Performance Indicators (KPIs) and other actionable intelligence. That, in turn, drives the quests for how best to consume that data—and is progressively more conveyed by increasingly popular dashboarding solutions.
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Analytics and KPIs: You Can’t Master What You Don’t Measure

Performance analysis, insight, stakeholder visibility and operational efficiency are the fundamental components that drive IPBM excellence. Performance management analytics comprise the tools, capture methods, data models and visualization technologies that help legal and IP organizations focus on the operational performance metrics they need, to help them understand both the business effect of their activities – causality, impacting processes and behavior – and the corrective steps, nee actionable intelligence, they need to optimize performance and outcomes.
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Operational Opportunities of Reporting

Legal Sees Potential in Data—Yet Some Remain Unsure What That Potential Is   A legal organization has a number of essential functions, and reporting is most assuredly one of them. In fact, the data streams and visualization methods we create to frame and understand complex legal practices and their impact represent the most tangible outputs organizations use to gauge the progress and success of operations. In essence, reporting is the lifeblood to making more informed and sound business decisions.
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Legal Metrics: Defining Success Beyond Spend Management

Measures are a core component of holistic business management.  While quantitative measures are not appropriate for all business activities, performance metrics and key performance indicators (KPIs) are an increasingly critical part of optimizing the legal function.  This topic consistently arises in our annual review of law department trends.
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A New Metric to Evaluate Law Firm Quality

Justice Potter Stewart’s celebrated “I know it when I see it” obscenity test also applies to law firm quality. No one can quite say what it is, but most attorneys and clients claim to know it when they see it. This is a very subjective standard in a metric driven world.
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What are the Right Metrics for Law Firm Success?

It is often said that “life imitates baseball” and who is to say that it doesn’t?  Baseball has always been a game of statistics, metrics designed to gauge different aspects of performance. They may not tell the entire story, but they do provide empirical evidence to fuel bar room debates about who is better.
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Despite Broad Adoption of DMS, Challenges Persist

Document management systems (DMS) are well-recognized as one of the highest priority solution areas for law firms and corporate law departments.  DMS sits at the core of how legal professional create, manage and use their work product, and how they collaborate among colleagues, clients and outside partners.  Representative of its importance, our research has shown that DMS is relatively well-established in both law firms and law departments.  Almost 80% of legal organizations report that they are using some form of system-based DMS; of DMS-enabled organizations, 65% report that at least half of their professionals are using the system.
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Insights

MarketView: IP Management Systems