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Should Your Law Firm Jump on the BI Bandwagon?

By Terri Pepper Gavulic
November 14, 2005

Business Intelligence (BI) is rapidly being utilized and acknowledged as a critical weapon in the strategic arsenals of modern law firms. In a nutshell, Business Intelligence is a research process that enables law firms (or any business) to increase its competitive advantage by intelligently using available data in decision-making.

In the past, Business Intelligence occurred on an ad hoc and informal basis in the legal industry. Before the proliferation of a legal trade press, the Internet (and competitor's Web sites), and market intelligence services, information about clients, prospects, and competitors was likely gained on the golf course, at bar association functions, or through the occasional press release issued by a law firm that was an early adopter of marketing.

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