Digital White Papers

July 2013: Knowledge Management

publication of the International Legal Technology Association

Issue link: http://epubs.iltanet.org/i/143561

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BIG DATA, PREDICTIVE ANALYTICS AND SOCIAL CONSUMERIZATION We use a spherical model to create improved workflow. The spherical model takes a standard, linear workflow visualized on a flat surface and bends it until a three-dimensional sphere is formed. Looked at in this way, reorganizing the workflow to accommodate shorter distances between two points, alternative paths and multiple collaboration points is possible through newly created communication points. or is driving safely, with expectations to increase or decrease rates based on the driver's behavior. Following this thinking, we began looking into applied big data predictive analytics. In our practice areas, we deal with medical data, injuries and settlements/litigation relevant to the level of injury and disability we're defending against. By running analytics on attorney-to-client-specific output, type of injury, related doctor involved, etc., we can compare past performance and future performance. We're counting on building the ability to predict relative outcomes, estimations and settlement/litigation billing payouts, amounts and project hours through predictive data analytics for both internal efficiencies and in building alternative billing models with our clients. Our firm has invested in social consumer systems built for business, and we are realigning our corporate structure to move in tandem with evolutions in the social platform. We chose to invest in a collaborative hosted system, with social media integrated through all aspects of When all three challenges outlined above are ultimately solved — free-flowing data; restructured staffing, workflow, and business and project models; and new billing models based on predictive analytics — we can continue to offer billing innovations to our clients. our workflow, staffing and future business-driven initiatives. THE WAY FORWARD Social consumer KM and the integration of predictive analytics are here to stay, and when woven together, they offer intriguing possibilities for our industry. Just how well we ultimately leverage these technologies for continual business gain is still ahead of us, and social consumer platforms are showing us the way forward. As we move toward all-in-one platforms that utilize big data and predictive analytics to create successful KM programs, we're sure to realize this is more than just hype. Eric Hunter is the Director of Knowledge, Innovation & Technology Strategies at Bradford & Barthel, LLP. Over the past three years, Eric has integrated a social media, knowledge and collaboration environment within the firm For example, using applied big data predictive analytics, the insurance industry would be able to track a driver's speed, driving habits, routes, etc. in real time and could determine whether the driver is driving above the speed limit and rolling stop signs and is continuously looking to leverage innovative solutions to enhance client service interaction while driving business optimization internally. He is also the Executive Director of Spherical Models, LLC, where he leads a team focusing on spherical business models through innovations in big data, social media and collaborative cloud solutions. Eric was the recipient of ILTA's 2010 Knowledge Management Champion and 2010 Innovative Member Distinguished Peer Awards. Follow Eric on Twitter @thelihunter.

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