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Turning data into results

Firms generate plenty of data, but unless it is accurate, easily understood, and acted upon, it will not improve performance, explain Barry Wilkinson and John Humpherson

14 March 2017

The business results achieved by law firms vary widely. Benchmarking surveys show that firms doing similar work in similar locations achieve very different outcomes, with top performers earning several times as much as their less fortunate peers, with far fewer borrowings.

Our workshops with finance directors and managing partners of high-performing firms have identified over a dozen key differences which make them successful, but two factors in particular stand out.

First, they have an absolute clarity of purpose. These firms are businesses: vocation and reputation are important, but not a substitute for commercial success. They treat staff well, expecting more in return, and they look after clients to justify good prices.

Second, they proactively use data to drive actions which create better re...

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