leveraging analytics to tell the story they want ... and more

LEVERAGING ANALYTICS TO TELL THE STORYTHEY WANT … AND MOREAndy Peterson – DWT De NovoChristian Zust – Bryan Cave

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LEARNING OUTCOMES

1. Analyze opportunities to leverage data to demonstrate your firm’s value

2. Identify ways to improve the stories uncovered through data analysis

3. Formulate strategies to protect the stories at both client and firm levels

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THE BRYAN CAVE STORY

Potential Litigation Client• Transactional client with no history using Bryan Cave for

litigation• Reputation for dismissals or nominal settlements, even on

complex matters

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FINDING THE OPPORTUNITY

Have your client define success• Engaged GC early to understand how they define success

- Interested in seeing if there is a better way to control overall costs+ Enjoyed reputation as tough litigators+ No noteworthy issues with particular counsel+ Little interaction with counsel+ Settlement costs currently minimal

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UNDERSTANDING WHERE TO ADD VALUE

Break “success” into its component parts• Total Cost of Resolution (TCR) Components

- Outside counsel spend- Settlement costs- Expenses

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FINDING THE STORY

Gather data related to each component

• Data Sources- Financial dashboard- Experience database- Document management

system- Attorney memory

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TELLING THE STORY

Turn findings into something easily digestible

Legal Fees63%

Settlement Costs33%

Expenses4%

Bryan Cave - TCR $94,500

Legal Fees92%

Settlement Costs

4%

Expenses4%

Baseline - TCR $120,000

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IMPROVING THE CLIENT’S STORY

Demonstrate the value of your story by incorporating it into the relationship

• Common suggestions:- Tweaks to streamline processes- Changes in team composition/structure- Increased collaboration and smarter reporting/alerting

• Structured a TCR based approach to litigation:- Improving case assessments to include risk weighting- Scrutinizing demand v. next round of defense fees- Enhancing data collection and analysis methodologies - Developing key performance indicators (KPIs) and scorecards to ensure

quality

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PROTECT THE STORY – CLIENT LEVEL

Implement improvements that deepen institutional knowledge while positively impacting metrics

• Formed specialized teams to respond to certain high risk or highly repeatable issues

• Formulated key performance indicators that impact TCR• Customized solutions focused on improving performance

against KPIs

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PROTECT THE STORY – FIRM LEVEL

Ingrain the firm’s story in the attorneys’ memory and connect their individual performance to that story

• Story shared for preservation and continued business development

• Associate training programs created• Smarter reporting created showing each attorney their

performance as it relates to KPIs

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INDIVIDUAL PERFORMANCE SUMMARY

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THE DWT STORY

Existing payments client• Wanted an international survey of current and emerging

payments regulatory issues• Wanted it displayed in a “heat map”• Wanted it … from a lawyer (gulp)

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THE DATA

COUNTRIES28US

CanadaChinaUAE

Bahrain…

ISSUES28

Honor-all-cards ruleCard transaction fraud/data-security

Interest rates and feesGrace periods

Rewards or loyalty programs…

WINDOWS2

CurrentEmerging

WORDS

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STRUCTURE

Quantitative Qualitative

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TIME GOES BY

Lawyers do the research• Mid-six figures in in DWT billings• Even more in local counsel billings• $0k in Andy billings

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THE END(ISH) RESULT

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THE END(ISH) RESULT

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THE END(ISH) RESULT

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THE END(ISH) RESULT

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“SCOPE CREEP” AKA “HERO OPPORTUNITY”

Canit

doX?

#CIDX(not everything in this presentation is true)

(but follow me @designbuildLGL)

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#CIDX: SPLIT CURRENT AND EMERGING?

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#CIDX ??

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#CIDX: CLICK-THROUGH TO SURVEY RESULTS

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#CIDX ??

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#CIDX: CLICK-THROUGH TO FULL TEXT

OF THE REGULATIONON THE WEBTRANSLATED INTO ENGLISH?

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#CIDX ??

(sort of)

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WHAT’S NEXT

The heat map lives on*• Used by global cards team to keep a finger on the pulse of

pertinent events affecting the card business in 28 jurisdictions• *The client is replicating the whole thing, using our data

structure and visualization, in QlikView• They will ask us and local counsel to update the data on

some regular basis• DWT can apply this structure to other similar efforts (e.g. 50-

state surveys)

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BEST PRACTICES

Tips to uncover, institute, improve and protect your story:• Engage client early to understand their vision for success• Get the opportunity into the right hands right away• Break “success” down into its component parts• Analyze historical performance as it relates to those parts to

develop your story• Don’t just tell the story – look for ways to improve it• Implement structural changes to improve and protect your

story at both client and firm level

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