Bringing the book bang up to date, new content features how we can keep data secure in the changing world of work, how data can be used for business development and client satisfaction, the implications of data bias and data theft, and whether the way we use data is even useful anymore.

Like so many other professions, law is becoming increasingly influenced by an overwhelming amount of disparate, fragmented and complex data that can both help and hinder business. Data comes from a wealth of different sources, both internal and external, constantly changing, never still. Keeping control of all that data is one challenge; leveraging it to the greater good much harder.Despite the huge amount of data in the average law firm, data-driven decision-making is relatively new and uncharted. With the hugely disruptive changes that have occurred in our ways of working over the last two years, the issue of data is now front and centre.This second edition of Building the Data-Driven Law Firm looks at how the use of data has become inextricably linked with the practice of law; how it can be utilized to the good, and the safeguards that must be put in place to mitigate the bad; how Big Data will revolutionize the way lawyers work, and the cases they will work on; and how new uses for data (including blockchain and the Internet of Things) will influence the law firm of the future. Bringing the book bang up to date, new content features how we can keep data secure in the changing world of work, how data can be used for business development and client satisfaction, the implications of data bias and data theft, and whether the way we use data is even useful anymore.

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