Information Week has an interesting article on biglaw pricing analytics and decision making. (h/t: ABA Journal) Excerpt:
Emerson is director of practice economics at Bryan Cave LLP, a 1,200-attorney, 27-office law firm based in St. Louis, Mo. It's his job to do figure out what a legal matter should cost Bryan Cave to handle, how much it would cost other firms, and where it can be more profitable.
Law firms haven't done much analyzing of their practices, though some firms were early leaders in the use of text analytics . Analytics is on the rise in law firms, thanks to the 2008 recession and the rise of e-discovery and e-billing.