Gaining business intelligence (BI) can be likened to lifting the lid off your business and seeing its internal mechanics. It is not a new idea - BI has its roots in decision support systems (DSS), which began in the mid-1990s. However, the legal sector has been relatively slow to absorb such techniques.Business intelligence is an umbrella term used to describe a set of concepts and methods designed to improve business decision-making. It uses fact-based support systems that provide law firms with a higher quality of information than they can get from their standard financial systems. Gaining business intelligence enables a law firm to access, interact with and analyse data to manage their operations, improve performance and generally function more efficiently.
September 24, 2008 at 09:09 PM
1 minute read
The original version of this story was published on Legalweek
The use of business intelligence ideas for calculating cost margins looks set to grow among law firms. Justin Farmer and Shane Zindel explain
Gaining business intelligence (BI) can be likened to lifting the lid off your business and seeing its internal mechanics. It is not a new idea – BI has its roots in decision support systems (DSS), which began in the mid-1990s. However, the legal sector has been relatively slow to absorb such techniques.
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