For increasingly data-savvy clients, lawyers can no longer give "it
depends" answers rooted in anecdata. Clients insist that their
lawyers justify their reasoning, and with more than a limited set
of war stories. The considered judgment of an experienced lawyer is
unquestionably valuable. However, on balance, clients would rather
have the considered judgment of an experienced lawyer informed by
the most relevant information required to answer their questions.
Data-Driven Law: Data Analytics and the New Legal Services helps
legal professionals meet the challenges posed by a data-driven
approach to delivering legal services. Its chapters are written by
leading experts who cover such topics as: Mining legal data
Computational law Uncovering bias through the use of Big Data
Quantifying the quality of legal services Data mining and
decision-making Contract analytics and contract standards In
addition to providing clients with data-based insight, legal firms
can track a matter with data from beginning to end, from the
marketing spend through to the type of matter, hours spent, billed,
and collected, including metrics on profitability and success.
Firms can organize and collect documents after a matter and even
automate them for reuse. Data on marketing related to a matter can
be an amazing source of insight about which practice areas are most
profitable. Data-driven decision-making requires firms to think
differently about their workflow. Most firms warehouse their files,
never to be seen again after the matter closes. Running a
data-driven firm requires lawyers and their teams to treat
information about the work as part of the service, and to collect,
standardize, and analyze matter data from cradle to grave. More
than anything, using data in a law practice requires a different
mindset about the value of this information. This book helps legal
professionals to develop this data-driven mindset.
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