Many companies have spent incredible resources managing both the opportunities and the risks associated with data management. Embracing data-driven management is part of most forward-thinking companies’ digital strategies. Companies that have harnessed the power of data have opened the door to make more transparent, objective and confident decisions. This can provide an organization a competitive edge and make it more resilient.

Corporate legal departments (CLDs) have sometimes lagged in adopting data-driven approaches, in part due to comparative complexity and subjectivity in executing legal processes (they aren’t manufacturing widgets!) as well as the pace and intricacies of the practice of law itself.