Diversity is now squarely a priority for law firms. Many law firms have diversity committees, and many have hired diversity directors. Much attention has been paid to firm recruitment and promotion processes. Mission statements, web sites and policies have been rewritten. Unfortunately, few firms have armed these efforts with the information necessary to ensure the success of their diversity strategies.
Why? For one, most firms simply don't have the tools that allow them to easily - and automatically - access the data they need to build strategies that meet the firm's goals, communicate the results to internal and external constituencies, and perform the analysis that will allow them to make adjustments as needed. Even worse, in many instances, those at the firm who are responsible for the firm's business intelligence (BI) efforts are unaware that this information gap exists.
While firms have stepped up efforts to employ BI solutions to billing and collections, matter profitability and many other aspects of firm management, they have not leveraged business intelligence to drive their diversity efforts.
Read full article.