Law firms have generally stayed ahead of the curve when it comes to leveraging data analytics technology to streamline the practice of law—think of machine learning to help speed up the process of reviewing legal contracts or litigation analytics to unlock insights about courts, judges, lawyers and law firms. But the industry is equally behind the curve when it comes to using this technology to improve internal operations, reduce risk, and realize revenue growth potential.

Bloomberg Law’s 2022 survey revealed that legal organizations use technology principally to improve productivity and workflows through tools for functions like billing, research and timekeeping. Nothing surprising here, but data-driven decision-making can also help a firm protect its future profitability and drive a sound business approach that supports firm growth strategy.