Leveraging Data Analytics in a Law Firm
Summary
In this episode, Zinda Law Group’s Chief Marketing Officer, Kevin Tully, sits down with Zinda Law Group CEO and lead trial lawyer, Jack Zinda, to talk about how data can be used to create better efficiency in your practice.
Discussed in this Episode:
- Why is tracking data important?
- Defining the terms
- Compiling your data
- How to use data
- Getting your team aligned
- Other ways to use data
Why is Tracking Data important?
Jack speaks about what it means to use data with your business and why Zinda Law Group started using data in the first place. “It started with the practice of law and not how we ran the business.” Putting together a case and establishing good business practices are not that different. You do your research and see where the evidence leads you.
Defining the Terms
In this section, we learn about key performance indicators, metrics, activity numbers, and analytics. Jack explains the functions of these terms and how they all work together to create one final set of data. “If you’re not familiar with these terms, don’t beat yourself up. I wasn’t familiar with these terms when I first started my practice.” How seeing data as stats on a scoreboard instead of just numbers can greatly improve your ability to read analytics.
Compiling Your Data
In order to use data effectively, you must first understand what purpose that data serves. Using the “3 to 5” rule for a specific subject can prevent you from feeling overwhelmed. When logging data, make sure that you have a point person (and/or an automated program) who ensures that it stays organized.
How to Use Data
“You want to make the data very simple to read and easy to use.” Using a color-coded system can be an effective way to address issues or acknowledge success. Data can also be effective outside of typical business needs. Jack shares a few insights on how they use data to determine which cases to take on or avoid.
Getting Your Team Aligned
Getting your team to get on board with data collection can be a daunting task. Finding practical ways to explain how important data is, is a crucial part of having a team that’s aligned. A team that only puts minimal effort will end up with higher data errors, thus rendering it useless.
Other Ways to Use Data
Jack explains how they use data from focus groups to help understand different demographics from state to state. “What if we had similar pieces of information that we could drive decisions on?” Just like insurance companies, we too can look at data to understand the value of a case.
You can reach Jack at jack@zindalaw.com.
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Links:
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www.zindalaw.com