Can a Single Law Firm Use Big Data for Better Case Results?
Big data is often a concept that people think about in the arena of tech. However, tech startups aren’t the only people utilizing big data. The legal world also uses big data for a variety of things, and it pulls on many different legal sources. Here are a few of the ways that one law firm may use big data to bolster its results.
1. Previous Cases
Possibly the most obvious method of utilizing big data in the legal world is a firm sourcing data directly from their own cases. Many firms have a lot of data to pull from, with the Bureau of Labor Statistics estimating that many lawyers spend much more than 40 hours a week on their jobs, though the exact amount of time may vary.
Some firms have even started to synthesize their case data into something they can draw on in the future. This can give them information on the average settlement amount they’re able to acquire for clients, their percentage of losses and wins, and the amount of time they spend with each client on average.
2. Local and Nationwide Legal Data
Being able to source data that are both local and national is an important part of big data. Just because something holds true in your immediate area doesn’t necessarily mean it holds true for everyone. A group of Tampa Personal Injury Attorneys will probably gather information mostly from Tampa. Big data lets it be done more accurately on all scales
This is one of the reasons that many people appreciate how big data is growing and changing over time. With more people gathering more data from more sources, it will become more and more common to see data sources for all sorts of arenas and uses. Lawyers are definitely going to be able to use all of these data sources.
3. General Data
Sometimes, legal teams don’t specifically need legal data. A personal injury attorney may need data about car accidents. A dog bite lawyer may need data about dog attacks. A medical malpractice lawyer may need data about medical procedures. These are all extremely important pieces of information, but they’re not necessarily directly legal, which means they can sometimes be tough to track down.
As big data continues to grow and change, people may be able to gather this information more readily. Already, you can find databases for much of this information. If you want to know how many car accidents occur in the United States every year, it’s at your fingertips. Big data is making this type of research easier.
When a law firm decides to incorporate big data into their research and development process, it’s typically because they know how well it works. Big data is an extremely useful tool, and it’s not one you should write off for any reason. The next time you go to hire an attorney, regardless of the reason, you should definitely ask them how they use data in their process.