20 Facts We Learnt From Our Blog in 2015


Facts

During 2015, I published a number of blog articles on LinkedIn and our company blog.  44 to be exact.  And within those blogs were quite a few facts, statistics and insights that we collected – so here is a round up of some of those facts to highlight the key numbers from our blog this year:

  1. C24 research found that 87% of legal firms were mainly motivated to investigate business intelligence solutions so that they could achieve better visibility of sales and business development information. (Read the blog here).
  2. Nearly 31% of law firms are at risk of financial failure in the coming year due to pressure created by competition from new volume market entrants such as Tesco, DirectLine and other insurance companies branching out into the legal market. (Read the blog here).
  3. Attorney at Work (2015) conducted a survey across legal firms and found that of the 91% of lawyers that use social media, 60% identified social media as playing a part in their marketing strategy.  (Read the blog here).
  4. PWC reports that investments in software as a service (SAAS) applications will more than double to $78bn while investments in traditional ERP deployments will decline by more than 30% to less than $15bn in the next year.  (Read the blog here).
  5. PWC predicts that cloud based SAAS ERP models are 6x less costly to implement, manage and support than traditional ERP deployments. (Read the blog here).
  6. PWC have also calculated that over a 10 year period, the total cost of ownership of a cloud-based ERP solution can be 50 to 60% less expensive than a traditional on-premise system. (Read the blog here).
  7. Complex supply chains can have up to 52 different sources of big data, generated from the supply chain alone. (Read the blog here).
  8. A report from Information Week highlighted that organisations only analyse 12% of their data, and that the challenge was dealing with the remaining 88% of data left. (Read the blog here).
  9. The average worker is said to stay at each of his or her jobs for 4.4 years. (Read the blog here).
  10. LexBlog estimate that 80% of the largest law firms now publish blogs. (Read the blog here).
  11. IT Directors in the Legal sector are predominantly white, male and have held their positions for circa 20 years.  On the contrary, a typical legal new hire is young, tech savvy with 57.1% of trainee’s being female, according to a recent survey. (Read the blog here).
  12. According to RBS, traditional law firms have lost out on over 50% of income that they would normally generate from transactional services such as legal-aid support and conveyancing. (Read the blog here).
  13. A founder of a CRM app called CRMNext found that the main reason that 50% of CRM application deployments failed was due to difficulty and complexity experienced by users. (Read the blog here).
  14. In 2012, Gartner reported that 80% of gamification applications would fail to meet business objectives.  However they have also predicted that 40% of Global 1000 organisations will introduce forms of gamification to boost revenue and drive better employee engagement.  Their analysts also believe that the gamification market will grow from $242 million to $2.8 billion in 2016. (Read the blog here).
  15. A survey conducted by Deloitte found that 54% of respondents would be investing in technology to improve user (customer) experience, mainly by delivering self-service portals to consumers. (Read the blog here).
  16. A 2013 study by the Aberdeen Group found that one of the key challenges to meeting sales goals was insufficient or inadequate information available. (Read the blog here).
  17. HBR found that 61% of sales reps thought that greater sales intelligence would deliver better lead quality and quantity – therefore resulting in more time spent actively selling. (Read the blog here).
  18. Companies that personalise customer information down to sales rep level (i.e. creating specific marketing and sales content at a sales rep level) have been known to achieve a 36% increase in lead conversions.  (Read the blog here).
  19. The Bank of America recently conducted research into how artificial intelligence could impact on workers across the US and found that 47% of American jobs had the potential to be automated by 2020, and that as many as 25 million finance legal job roles globally would be disrupted.  (Read the blog here).
  20. Accenture estimates that combining business intelligence with the Internet of Things could be a $500bn activity by 2020 and Gartner predicts that there will also be 25 billion IOT connected devices by 2020. (Read the blog here).

Image courtesy of Inpivic.

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