P2P

winter21

Peer to Peer: ILTA's Quarterly Magazine

Issue link: https://epubs.iltanet.org/i/1439196

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81 I L T A N E T . O R G activity for 4 hours or 100 sent e-mails with small attachments. 15 In the legal space, a vast amount of data is available as well, with more created every day: published judicial opinions, state and federal court docket information, government agency filings, law firm time and billing information, and internal case documents and files. While it used to be impossible to make heads or tails of such unstructured data, advanced data analytics software (augmented by A.I., to assist with auto-categorization of documents) can now be used to highlight correlative points within legal data sets, and to provide useful predictive models based on that data. Data Analytics Applications in Law Innovative law firms now use data analytics to supplement their attorneys' hunches. Analytics can help firms determine whether a particular venue will be favorable to a party, how long a case is expected to last, whether a judge is likely to grant a motion, how much a case should cost at various phases, what likely damages would look like, and so on. This all translates to more accurate budgeting, and better case assessments. The following are several examples of the use of data analytics at our firm: • Fisher Phillips + LegalMation + Thomson Reuters Alliance In mid-2020, Fisher Phillips announced an alliance with LegalMation (a Los Angeles-based A.I. and data analytics vendor), and research titan Thomson Reuters (the owner of Westlaw). 16 As discussed in The American Lawyer, this alliance was forged to help the firm develop an integrated tool to draw predictions from a combination of the firm's internal data (case information and financial information), as well as all external data collected by Thomson Reuters from their vast repository of case law and docket information, to reach a "360-degree view" of the likely outcomes of litigation. This proprietary tool can provide judicial metrics, claim metrics, opposing counsel metrics, and settlement metrics, and will summarize this information via user-friendly dashboards, complete with risk-assessment meters. It also provides a detailed time and billing analysis of similar cases, broken down by litigation phase, assisting in the preparation of enhanced, data-driven budgets. Several screen shots of this exciting initiative follow. • Heat Maps. A heat map (or heatmap) is a data visualization technique that shows magnitude of a phenomenon based on color. The variation in color hue or intensity gives obvious visual cues to the reader about how the phenomenon is clustered or varies over space, providing immediate clarity from

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