Fuzzy Data Is Not Helping Legal Departments: How to Create and Use Metrics That Matter
Data is clearly key to helping GCs decide where best to focus energy and resources. But notoriously, lawyers are not known for making data-driven decisions. So where do you even start to implement a metrics program which helps create real transformation?
May 24, 2023 at 12:35 PM
5 minute read
We all know how much pressure legal departments are under, their budgets constantly scrutinized and in-house lawyers continually being asked to do more with less, across all their diverse areas of activity – from contracts, to regulatory and compliance, to litigation, to legal operations and M&A. Coupled with this, in-house lawyers are also increasingly expected to have a seat at the table when making decisions on the business' wider strategy. It's no longer a role devoted to just assessing day-to-day legal risks. So, what's the solution? Data is clearly key to helping GCs decide where best to focus energy and resources. But notoriously, lawyers are not known for making data-driven decisions. For example, lawyers will often focus on the liability cap which in fact, will rarely land a company in court and data would reveal where the risks really lie.
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