Whatever one may think of the value of Big Data, economic studies have consistently and conclusively found that customers are more likely to buy a product when they know what the price of the product is. Data analytics can help give greater certainty to prospective clients, and hence drive more business to the firm.
To answer the question that we started with then – should attorneys care about data analytics? The answer is a resounding Yes – but only if they want to make more money and have a more successful practice.
