In this short video, Griffen Hoyle, Head of Content at Crafty Counsel and Tammy Heydenrych, Managing Consultant in Norton Rose Fulbright’s Legal Operations Consulting team, discuss the importance of actionable, measurable data for legal teams.
Tammy highlights which metrics really matter, explains how legal teams can define success, and emphasizes the need for legal teams to move beyond being data-rich but insight-poor. She says: “There’s no one size fits all. But there are a few fundamentals that we can recommend to help teams get on that journey.”
She outlines a three-step approach that encourages teams to be smart about leveraging the data they already have.
Step 1 – Understand your WHY behind data collection
This step is often skipped by a lot of legal teams, and this is where they run into trouble. She says: “Stop and ask yourself: ‘Why do you need the data in the first place?’ What decisions are you going to make off the back of that data so that you’re not collecting data just for the sake of it?”
She emphasises considering your broad organisational strategy – what do your stakeholders care about and what can you as legal do to support them in achieving their strategic goals and to protect the
business.
Step 2 – Define WHAT to measure and identify key performance indicators
“Pick three or four metrics that your whole team can get behind so that you can work together towards those common goals”.
Tammy advises focusing on a few key metrics and using data to tell a strategic story that resonates with stakeholders. She differentiates between demonstrative data for external reporting and exploratory data for internal insights, stressing the importance of proactive data management.
Step 3 – Defining HOW legal teams can make their data work for them
Strategically craft a story with the data that you have. Be proactive about embedding data collection throughout their processes, “start small and scale from there.”
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Norton Rose Fulbright’s Legal Operations Consulting team helps in-house legal teams to improve delivery of legal services and strengthen its role as a strategic advisor to the wider business by unlocking its full potential. To find out more visit: Legal operations consulting | NRF Transform | Global law firm | Norton Rose Fulbright