The Present and Future of Analytics at Today’s Law Firms
Monday, June 19, 2017
Posted by: Deja Miller
Extract from Zach Warren's article "The Present and Future of Analytics at Today’s Law Firms" posted on Legaltech News
Analytics are all around you. Next time you go to the grocery store, try thinking about all the different data points being collected—the total stock of product on the shelves, the varieties of bread people pick up, how many items are bought in relation to their shelf location, and so much more.
The business world has been using analytics for years, and the rate of adoption has been something similar to a steep roller coaster incline. The legal industry has adopted analytics as well, though its rise is perhaps more similar to a slightly sloped walkway.
“There’s more and more data. It’s more complex. Those problems of acquiring it and looking into it are harder and harder,” Thomas Barnett, special counsel, e-discovery and data science at Paul Hastings, told a Legalweek West crowd. “The challenge is, other than maybe everyone in this room, lawyers aren’t eager to learn this stuff. So how do we take advantage of this with lawyers who maybe went to law school because they didn’t want to learn math or science?”
The answer, in short terms, is to prove how necessary data analytics is to gaining a competitive advantage in a modern law firm. The ways firms are accomplishing that goal, however, varies, said panelists at “The Future of Analytical Strategies” panel at Legalweek West. Barnett was joined on the panel by Kathleen McConnell, senior counsel, e-discovery and information governance at Seyfarth Shaw, while Bobby Malhotra, e-discovery counsel at Munger, Tolles & Olson, moderated the session.
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