Innovation Forum: Watch again
During each monthly session we will discuss a whole new world of opportunities that exist in your data. Register, join us live and bookmark this page to watch the recordings. If you have suggestions for future topics send your questions to firstname.lastname@example.org.
Innovation Forum: The Power and Potential of ChatGPT
In this panel discussion, experts from Wilson Allen + LAC Group chat about the power and potential of ChatGPT in the legal industry. Starting with an easy-to-understand backgrounder to help demystify ChatGPT’s technical underpinnings, and to explore how the core ChatGPT applications can serve the legal world. Then our panellists chat about some more complex applications of ChatGPT and how these can be developed to accelerate the collection of data in areas such as competitive & market intelligence, matter matching, and more.
Innovation Forum: Revenue Projections + Data Science = Greater Accuracy
Without question, one of the biggest areas of focus for professional firms in 2023 is DATA. Specifically, firms want to bring data together to give better visibility and enable leaders to make data-driven decisions. In this session, we talk about how understanding your past can better predict your future. Greg Murphy will demonstrate how prior benchmarks – such as the performance around collections – can be used to make more accurate assessments of business projections.
As a real-life example, you’ll see first-hand how lessons learned from the 2008 recession accurately informed revenue projections during the global pandemic.
Innovation Forum: What you need to know about the data lake
For firms are looking ahead at their IT landscape and upcoming projects, this is a must-watch.
A central repository for structured and unstructured data at any scale, also known as a data lake, is an integral part of your planning.
Listen in to the conversation as Greg Murphy, VP of Innovation and James Baldassarra, VP of Data Sciences, explain why the data lake is vital as you consider cloud in your future. They will discuss:
- The importance of a data lake when moving enterprise applications to the cloud
- The problems a data lake will solve
- What vendors should provide
- What you should know as you plan for and embark on a cloud future
Innovation Forum: The Client Churn Challenge
Client churn is a source of concern for many firms. During this community forum we discussed strategies for client retention and technology that you can use to develop insights. Topics covered include:
- Using Machine Learning to analyze client churn data
- Features that can drive client retention and which put a client at risk
- Wilson Data Cloud, Azure Synapse, and how to use Big Data tools to ML at scale
This session will interest Marketers, Finance, or Business Development professionals looking to solve for client churn, or Data Scientists or Analysts who would like to discuss client retention strategies.
WITH GREG MURPHY, VP INNOVATION
Innovation Forum: ROI on Marketing and BD Efforts
During this discussion, we explored the ability to thread together marketing and business development’s activities with relationship data to find which efforts drive new business. Using existing sources like the CRM, PMS, and campaign systems, we add relationship data to the mix to get even greater clarity on ROI. Data is power! View this session to take away example outcomes that can convince the most sceptical of principals and attorneys the value of tracking opportunities to marketing and business development.
WITH GREG MURPHY, VP INNOVATION
Innovation Forum: Client Segmentation on Financials
Whether your firm has started investing in bringing your data sources together or not, disparate data is a pain point for most. And the reality is, making data-driven decisions to drive growth, improve client relationships and increase revenue is the way of the future. But how do we bring all this data together to get there?
In this session, Client Segmentation on Financials, we shared our model on how to value clients using recency, frequency, and monetary data points.
With Greg Murphy, VP Innovation
Watch Now! Wrong-Fit client segmentation
Watch this video – Liz describes how to leverage a data lake to combine previously siloed data from disparate systems, and build a holistic definition of (in this example) client health from a broad range of features.
Liz built this model to establish metrics to identify & segment clients by client health – bringing together data from financials systems (3E), sentiment scores (Clearlyrated), relationship strength (Introhive), and opportunities data (Salesforce). The algorithm groups the data points, each representing a client, into segments sharing similarities across the feature set. Through machine learning and data science, Liz has broken down a problem that wouldn’t be possible for a human to complete – taking 500, 1000, 2000 clients, and within seconds categorizing them into actionable client segments. Then you can drill down into the ‘wrong-fit’ segment – prompting decisions and actions that may then be appropriate – whether to funnel resources away from them into an ‘opportunity’ client segment or use this as an intervention opportunity for clients at risk – you’re now making these decisions backed by DATA.