Pattern Recognition: Predicting Matter Leakage and Driving Client Profitability through Data Analysis

Topics: Law Firms, Legal Innovation, On-Demand Webinars, Practice Engineering

COO & CFO Forum

The Thomson Reuters Institute’s Law Firm COO & CFO Forum is the premier gathering of eponymous title holders, executive brethren, and esteemed industry partners for three days of peer-driven conversation on the business of law.  Each year, our content offers concise, pithy, and compelling insights for law firm leaders at both large and small organizations.  The following presentation occurred during Day Three of our annual meeting.

This session offers a robust examination of law firm predictive analytics’ role in creating proactive insights around matter profitability and financial risk. Leveraging a real-world case study, our presenters will address the challenges associated with pre-engagement financial diligence, client matter intake and selection, risk profiling, partner risk assessment, and data-driven systematic monitoring in all types of legal work. Attendees will gain valuable insights around matter monitoring (based on conditional alerts), how to selectively engage partners and coach them for improved profitability, and how to create and manage profit playbooks or life cycle profitability.

Mark MedicePrincipal & Head of Financial Performance and Data Science Practice, LawVision Group LLC
James H. ShoemakerDirector of Pricing and Matter Management, Miles & Stockbridge, P.C.

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