|We introduced The 2016 Chief Legal Officer Survey, conducted by Altman Weil, Inc. , above.
The survey report asked responding chief legal officers to select from eight efficiency initiatives any they had done recently. One was “Collection and analysis of management metrics.” That choice came in fourth as 39% of the respondents who answered the question selected it.
On the downside, however, the next page of the report (pg. 7) reveals that of the eight techniques, data analysis came in last as determined by the percentage of respondents who ranked it as a 9 or 10 on a scale of 10, where 10 meant “enormous value”.
Another view is to look at the relative perceived value of the data analysis efforts by size of company, which is tantamount to size of law department. The graph above indicates that all sizes of law departments viewed data analytics as roughly offering the same value, albeit not as much value as the other measures. So, even though as pointed out in previously larger departments exhibit a much higher incidence of using data analytics, all sizes of departments rank the return on that investment as about the same.