Thomson Reuters Peer Monitor launches new website
The new Peer Monitor website is here. The new site, which launched today, provides enhanced flexible and easy-to-use analytics that help law firms track industry trends, identify profit opportunities and support strategic decision-making.
Peer Monitor provides live benchmarking using real-time economic data that allows firms to compare themselves against chosen peer groups of firms. It combines powerful analytics with robust graphical capabilities that show results in visual formats. Statistics can be broken out by practices, offices, timekeeper levels down to individual timekeepers, and more.
Customizable views, more flexible queries, intuitive results
The new Peer Monitor website offers faster performance and gives users greater flexibility and expanded options in selecting criteria for analysis, as well as a series of easy-to-analyze formats for displaying results. Users now have three highly customizable, user-friendly modules with multiple options for selecting, analyzing and displaying data:
- Peer Check
Provides a comprehensive, detailed array of user-selectable options for quickly finding, analyzing and displaying the most useful data. Users can pinpoint the precise peer comparisons needed and compare their performance against pre-set peer groups or custom peer groups. They can also filter comparisons by practice group, timekeeper, matter type, geography and more. For example, timekeepers can be filtered to partners, associates or contractors by years of experience. Matter types can be selected by hourly, contingency or both. Results can be viewed as spreadsheet pivot tables or in multiple graph formats. A number of options are available for comparing firm data against the selected peer groups. For example, users can compare year-over-year growth rates or show a firm’s variance in percentages from the peer group. Users also can select median or average (mean) results from peer groups.
- Heat maps
A new option that provide effective at-a-glance analysis, giving users broad visual overviews with easily identifiable “hot spots” where a firm is either outperforming or underperforming relative to peer groups. Easy-to-use filters provide greater detail on a number of performance metrics.
Provides users with quick, easy access to useful graphs of key performance parameters. Users can adjust peer groups, practices and time frames to view instant easy-to-follow bar graphs on how their firm compares against selected peer groups for key performance measures, such as demand, rates and productivity.
Check out the new site today!