Julius Exner, Blindebuk (c. 1852)  (public domain)

Once you master the new jargon, the relevance and importance of analytics to the practice of law should become clearer...

...and a little bit scary.

Analytics comprises skills, practices, and changes in professional culture that are relevant today and will be critical to law firm survival over the next ten years -- especially for small and midsize firms. 

iStock image licensed by Walker Clark LLC

What is the most important thing that a law firm or group of lawyers can do to respond better to fast change in their market?

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The erratic attempts at policy coming from the Trump government in the United States have made commercial and financial prospects more unpredictable than perhaps in any period since the 1930s. Many investors and business people, as well as traditionally friendly governments, now wonder -- often with good reason -- whether the United States can be trusted to honor its international commitments at any level of enterprise or international engagement.

These forces and risks ultimately affect almost every law firm with any significant international or regional practice. This is a real challenge for the legal profession, because clients traditionally have looked to lawyers and law firms for analysis and problem solving in uncertain times. Yet the business futures of many of those firms are perhaps even less certain than those of their clients.