What is Legal Analytics?
Overview
Big data analytics technologies are becoming omnipresent in many industries, and the legal sector is no exception.
Put simply, legal analytics is the science of drawing insights from large volumes of data. In practice, legal analytics tools are helping lawyers make data-driven decisions on which to build their legal strategies. That could mean things like knowing the probability of a specific motion outcome, how seemingly unrelated cases connect or how much a settlement award could be.
New technologies often incorporate their own specialized dictionary of industry jargon. Check our this Glossary of 8 Legal Analytics Terms You Should Know to help you decipher it.
Guidance
What can legal analytics technologies do?
As mentioned above, legal analytics helps attorneys incorporate data into their decision making. But that's a pretty broad statement, so to better understand what that means, let's explore some specifics.
Truth is, there's not a single resource that encompasses all of the analytics capabilities now available to attorneys. That means a lawyer can pick from a menu of analytics tools, allowing them to find the one (or ones) that will best suit the needs of their practice area and legal concentration.