The quarterly publication of the International Legal Technology Association
Issue link: https://epubs.iltanet.org/i/116777
Nick Patience is Recommind's THE VALUE OF BIG DATA TO LAW FIRMS by Nick Patience of Recommind Director of Product Marketing and Product Strategy. He leads a global team tasked with developing marketing strategy across Recommind's products. He is a thought leader in areas such as e-discovery, enterprise search, text analytics and unstructured data management. Nick can be contacted at nick.patience@recommind.com. The volume and diversity of data have increased. The velocity at which data arrive in organizations has ramped up, too. None of these metrics, whether size, variety or speed, will abate. For any organization, in any field, data management and analytics need to be at the top of the business agenda — driving efficiencies by making sure that information is stored, managed and leveraged for maximum value. This is even more imperative in knowledge-intensive sectors such as the legal profession, which heavily rely on the ability to access and draw accurate conclusions quickly from their information for the day-to-day running of the company. THE DEVIL IS IN THE DETAILS For law firms, the ability to effectively analyze big data — and that includes internal documents, email messages and matters, as well as employee expertise and external sources of information — can add tremendous value. This ability to locate information — both internal and external — faster, not only enables firms to identify trends and make smarter and more robust decisions, it also allows them to identify the right person within the company to deal with a given client or case. Perhaps this person has previous experience in related matters or has dealt with similar clients before … whatever the reason, the ability to identify an expert based on their 72 Peer to Peer