The strategic use of data analytics can provide competitive advantage for forward thinking law firms to guide growth strategies and client development efforts, as well as reveal insights into both the business and practice of law. Yet, vast amounts of legal experience and expertise data are still waiting to be unlocked that could help firms improve the effectiveness of their organizations and better serve their clients.
For one, data is scattered among multiple siloed systems, and little information is captured about matters after initial intake. Often, important attributes like settlement amount, deal type, and close date that could be used to search and analyze experience data remain missing.
While firms might painstakingly gather characteristics in spreadsheets for one-off analysis and marketing efforts, they have no central place to store and track the data holistically over time. Data warehouses assembled for this purpose lack built-in capabilities for business-driven configuration, matter profiling workflows, user friendly search tools, or reporting.
The Foundation Firm Intelligence platform provides a wealth of knowledge ready to be harnessed by data scientists, business users, and practice leaders for strategic planning, real-time decision making, and predictive analytics.
It brings together data from your disparate systems and gives you powerful tools to enrich it with firm-defined characteristics. Define custom fields to capture data points for analysis using point and click configuration tools. Build matter type specific profiles in hours, not weeks or months — no coding or IT resources required.
Built-in data visualization provides high level insight into client health and relationships, aggregated lawyer experiences, and matter analytics. Integration with your data warehouse and favorite BI solutions open the door to sophisticated analysis and unlimited insights.
"Foundation has been a great asset for helping Troutman Pepper operate as one firm within the first week of the merger. Having quick access to integrated people, client, and matter data in a central platform with robust search and reporting capability enables us to immediately leverage the combined firm's collective knowledge to better serve our clients. it provides a significant advantage from an accessibility and analytics perspective."
"Being able to easily put our fingers on insights can help us make our clients more successful and is a huge competitive advantage for the firm."
Cross reference client whitespace with related practice areas and firm strengths to inform marketing and cross selling strategies.
Use search and tagging to bubble up emerging industry trends and regulations to inform client targeting and other business development initiatives.
Analyze the work the firm is doing across clients, industries, practices, and geographies to identify your unique competitive position, market opportunities, and threats. Create reports to measure progress on individual, practice, and client team business plans.
Integrate experience and client data from newly merged and acquired firms to help you quickly identify and capitalize on opportunities and tap the expertise of the merged firm.
Find out how you’ve fared against a particular opposing counsel or judge. Research typical settlement amounts for similar cases.
Analyze client retention and identify accounts at risk, segmenting by industry, practice, client ranking, and more.
Foundation provides an extensible platform, making it easy to feed your profiled data into your data warehouse, data lake, and favorite analytics tools. Foundation data is available via a normalized Export DB, accessible to analysis tools and import to other data stores.
