{"id":763,"date":"2019-04-07T01:53:30","date_gmt":"2019-04-07T01:53:30","guid":{"rendered":"https:\/\/annalozynski.com\/?p=763"},"modified":"2023-01-04T05:44:23","modified_gmt":"2023-01-04T05:44:23","slug":"its-time-to-dazzle-em-with-your-data","status":"publish","type":"post","link":"https:\/\/annalozynski.com\/its-time-to-dazzle-em-with-your-data\/","title":{"rendered":"It&#8217;s time to Dazzle &#8217;em with your Data."},"content":{"rendered":"<p>According to a Forbes article, more data has been created in the past two years than in the entire previous history of the human race.<\/p>\n<p>In today&#8217;s digital universe, our virtual movements are golden fodder for marketers, consumer insight-ers, and data miners such as Amazon, Facebook, Microsoft, Google and any other forward thinking company seduced by this influential new commodity.<\/p>\n<p>That\u2019s right, data is fast becoming a company\u2019s strategic asset class.<\/p>\n<p>As I mentioned in my last <strong>blog<\/strong> <a href=\"https:\/\/annalozynski.com\/dear-big-law-innovation-matters\/\"><strong>post<\/strong><\/a>, Big Law firms are sitting on a wealth of data. And data is certainly\u00a0surfacing as the cornerstone of any forward thinking in-house legal function.<\/p>\n<p>As General Counsel and individual contributors, we may have a strong intuitive and qualitative understanding of the volume and sources of work flowing into the legal team, and that the team is generally always \u201cbusy\u201d.<\/p>\n<p>Yet it can be a challenge to convince our CEOs and CFOs of the same, to easily write that business case, or indeed speak in a language that resonates with our business general managers without one obvious lever.<\/p>\n<p>Hello, data.<\/p>\n<p>For non-law firm lawyers, the concept of data collection seems to trigger an instant association with time sheets, given our law firm backgrounds. It is very likely that most in-house lawyers do not miss time sheets and their productivity being defined by six-minute intervals.<\/p>\n<p>The intention is not to replicate law firm value measures in the in-house environment. Rather, the point is to allow in-house lawyers to effectively articulate, other than by reference to a long to do list, where they are spending their time and why they describe their capacity out of five as a \u201cheadless chook\u201d at the weekly legal team meeting, or to senior management.<\/p>\n<p>For example, the last time I was recruiting for a lawyer, all of the short listed candidates were not able to quantify their current workload; they could only describe it qualitatively. It was eye opening for me.<\/p>\n<p>Most teams have some basic quantitative analysis they track, typically focused around budget in terms of external law firm spend, <a style=\"text-decoration: inherit !important; color: inherit !important;\" href=\"https:\/\/www.monderlaw.com\/san-diego-ca\/criminal-lawyer-defense\/\">criminal defense strategies<\/a>,cost savings and perhaps a list of settled cases or debts recovered (often used to show how the legal team is saving the business money by avoiding litigation). That is what I call defensive data.<\/p>\n<p>In today\u2019s data driven and ROI (return on investment) focused business world, I would suggest those reference points are not enough, particularly if your audience is non-legal.<\/p>\n<p>You need dynamic data.<\/p>\n<p>What finally convinced me to take the plunge into data collection and to integrate it into the way we work in late 2016 was seeing how easily our IT Director could convey the workload of the IT Helpdesk by purely using stats. Find here more about <a style=\"font-family: inherit; color: inherit; text-decoration: none;\" href=\"https:\/\/loftypm.com\/\">lofty property management<\/a>.<\/p>\n<p>The penny dropped that there were parallels here in that a legal department is a helpdesk of sorts. Legal was therefore similarly capable of collecting and presenting similar data about its operations and value add.<\/p>\n<p>As companies start to covet \u201cbig data\u201d and spend more and more time in \u201cThe Cloud\/s\u201d (pun intended) the quest for reliable, informed and intelligent decision making is becoming the next \u201cbig must have\u201d.<\/p>\n<p>On the basis that <em>Scientia potentia est<\/em>, \u201cknowledge is power\u201d, us in-house legal peeps need to ensure, that when it comes to data, we \u201cdon\u2019t be 2000 and late\u201d as chimed by The Black Eyed Peas.<\/p>\n<p>Want to know more about the legal data universe and what I mean by dynamic data? This blog post contains modified extracts from my ebook <strong>Legally Innovative, <\/strong>a copy of\u00a0which you can access\u00a0<strong><a href=\"https:\/\/issuu.com\/store\/publishers\/anna.lozynski\/issues\/legally_innovative___anna_lozynski\">here<\/a><\/strong>.<\/p>\n<p>For visual innovation inspiration follow <a href=\"https:\/\/www.instagram.com\/legallyinnovative\/?hl=en\">@legallyinnovative<\/a> on Instagram.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a Forbes article, more data has been created in the past two years than in the entire previous history of the human race. In today&#8217;s digital universe, our virtual movements are golden fodder for marketers, consumer insight-ers, and data miners such as Amazon, Facebook, Microsoft, Google and any other forward thinking company seduced [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":765,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It&#039;s time to Dazzle &#039;em with your Data. - ANNA LOZYNSKI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/annalozynski.com\/its-time-to-dazzle-em-with-your-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It&#039;s time to Dazzle &#039;em with your Data. - ANNA LOZYNSKI\" \/>\n<meta property=\"og:description\" content=\"According to a Forbes article, more data has been created in the past two years than in the entire previous history of the human race. 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