Patrick Fuller, Director of Corporate Solutions at TyMetrix Legal Analytics, discussed how organizations can win consistently during his presentation at the 2014 Chief Legal Officer Leadership Forum: Spotlight on Litigation in Washington DC on June 11. In his presentation, Fuller noted data and analytics can help organizations determine whether or not they have won.
According to Fuller, organizations need to ask questions to evaluate their success. By doing so, Fuller said, organizations can define “a win” and develop effective business strategies. Fuller also pointed out organizations must define their business problems to find ways to resolve them: “What is the business problem that we’re seeking to solve through this? That to me is always a guiding question that always comes back whenever we start putting metrics in place.”
Numbers and analytics define improvement, Fuller said, which is crucial for organizations of all sizes. In addition, Fuller noted data collection and analysis are vital because they enable organizations to learn and improve: “We have data collection and analysis being done by people reporting into different areas of the business. It’s being collected in different areas and there is generally a lack of communication and a lack of cohesion in what is being analyzed and what they’re attempting to obtain.”