dc bar lunch and learn · data: the average associate spends 193.3 hours of research time that is...
TRANSCRIPT
Using Analytics to Give Your Firm a Strategic Advantage
DC BAR LUNCH AND LEARN
In addition to talking about Fastcase, I also teach the Law of Robots at Georgetown Law.
Ed WaltersCEO, Fastcase
@EJWalters
Hi! My name is
The tyranny of hunches
LUNCH + LEARN
How much is my case worth?
Where is it most advantageous to file suit?
What’s this judge like?
Should I accept this settlement offer?
What’s the winning case?
How many important precedents exist?
Is my case still good law?
How will the court rule?
Is this contract clause standard?
Not abstract statistics – core to practice.
Hunches
Doomed.
The rise of legal analytics
LUNCH + LEARN
Data will eat your hunch for lunch.
Data trumps experience.
Know your audience with data.
Courts are random, right? (Wrong.)
Data: The average associate spends 193.3 hours of research time that is written off, for an average cost of $61,856 per year.
Source: Calculating the Value of Legal Research Efficiency, Blue Hill Research, Sept. 2014
Definitely.
Solution: Use citation analysis and data visualization tools to drive new value.
A 10% savings in research time can yield $1.6M in increased revenue and $1.2M in increased profits.
Source: Calculating the Value of Legal Research Efficiency, Blue Hill Research, Sept. 2014
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Smarter search
Citation analysis for better results
Data visualization to gain deeper understanding.
Full pagination and clean formatting.
Bad Law Bot – first big data citator.
New! Law reviews from HeinOnline!
New! Seamless integration with Clio!
Fastcase 7 Search results and analysis
Use smarter tools to drive research.
Data visualization with Interactive Timeline
Negative history by Bad Law Bot
The coming age of analytics
LUNCH + LEARN
An unprecedented explosion of data services.
Focused reading view maximizes productivity.
[email protected] @EJWalters