- An AMLAW Top 20 Law Firm was looking to gain a competitive advantage with data & analytics, modernize the firm’s technology and encourage adoption without disrupting the practice side of the business.
- A modern data platform was created to centralize and standardize data.
- A new data and analytics department was created with Aptitive’s experience guiding the people, process, and technology needed to succeed.
- A single source of the truth was achieved for this firm allowing them greater visibility and a competitive advantage through insights enabled by the new data and analytics department.
A Competitive Advantage with Data & Analytics
Short on time? Here are the key facts.
Our client needed a strategy and tactical recommendations to take a service oriented culture and turn it into a unified, data-driven front working to establish a single source of truth around the firm’s metrics.
Our client’s operational chiefs knew they could achieve a competitive advantage with data & analytics. They needed a way to modernize the firm’s technology and encourage adoption without disrupting the practice side of the business.
Our team suggested and drove the following initiatives to support the change management needed for the firm to adopt a modernized technology stack, reduce the number of reports circulating around, and establish a reliable single source of truth:
- Stand up a new department around data and analytics, pulling existing resources from the firm who had an interest in leading this effort as well as hiring new, experienced resources to support the additional needs and development.
- Establish firm-wide metric names, definitions, and calculations. If the same metric was calculated two different ways and both were necessary, decide on a new name in order to differentiate.
- Create a method of communication for every report creator to ensure that the duplication of efforts can be reduced. This additionally allowed the operational business users to enforce the new standardized metrics for the practice side of the business in the report creation process.
- Develop a central data platform as the single source of truth, from which all data and reports can be driven.
- Re-align key resources to support initiatives (both on the business and technical side of operations) that they were passionate about and made sense for their skill sets. This created an end-to-end support model for any report or analysis requests from equity partners or clients, as well as the technologies that enable these efforts.
Our client was able to gain the adoption of a single source of truth, with the operational and practice side of the business agreeing to a set of standardized metrics. The establishment of a new department, demand management process, and a supporting data platform lead to:
- A reduced number of reports and duplicative efforts (= happy chiefs)
- Increased quality and speed of analysis (= happy equity partners)
- More collaborative operational efforts (= happy employees)