The following is an excerpt of our viewpoint document The Keys to Successful BI for Law Firms.
Data-driven decisions based on reliable business intelligence (BI) can provide law firms with the quick, accurate answers they need to achieve success, but requires a big cultural shift and understanding how to turn data into knowledge. While BI adoption rates are increasing in law firms, it’s important you look at it like the strategic decision that it is.
If you are considering BI implementation, you have probably read about the high rate of failure. So just how high are we talking about? According to Gartner, the failure rate for new BI initiatives to meet enterprise objectives hovers around 70 percent, a dismal prospect for any organization with BI plans.