Don't Settle for Inferior Analytics
Today the application of data-driven analytics is essential to the practice of law. The use of machine learning, natural-language processing and other artificial intelligence (A.I.) technologies enables lawyers to answer questions that previously would require extraordinary manual effort—if those questions could be answered at all. Harnessing the power of legal analytics offers an unmistakable competitive advantage. But analytics are only as good as the data underneath, so the journey starts there.
Content is the foundation for sound analytics
While you need to spend your time doing what you do best—practicing law, not becoming a data scientist—it’s helpful to examine and understand analytics fundamentals when choosing technology solutions for your practice.
A critical dependency of sound, actionable legal analytics is large volumes of high-quality data. Incorrect and incomplete data will yield incorrect conclusions and can cause dangerous missteps in case preparation or litigation strategy. In addition to vast content, the creation and maintenance of good analytics relies on these two key factors:
Data cleansing, the process of capturing and enriching data, is necessary to ensure accuracy of the data behind your analytics reports. For example, if vital practice area categorization is absent, not only will you get less detailed results, but the analytics can lead you to incorrect conclusions. At LexisNexis®, we relentlessly clean and categorize our data for meaningful analytics you can act on. Through a combination of A.I, machine learning and human expertise, we review case law, dockets and legal documents to add missing data and modify incorrect information, so you can trust the data behind our analytics solutions.
Time plays a critical role in the maturity of analytics tools and their ability to pinpoint accurate results. Coding algorithms “train” computer systems to search for, find and analyze specific language from vast, unstructured data like case law and court opinions. The computer system learns and matures over time as the data grows, generating better and more targeted results. This advanced machine learning cannot be replicated overnight; it takes time to develop and hone superior technology. With over a decade of experience creating, compiling and refining our data, processes and algorithms, LexisNexis delivers unmatched analytics tools to help you gain a competitive advantage in your practice. LexisNexis data scientists and legal experts have spent thousands of hours with customers to understand how legal analytics can meet their needs, meaning we refine and improve our processes based on what lawyers need most. The bottom line? You don’t have to settle for inferior analytics.
Experience the most powerful legal analytics solutions available today*
LexisNexis® is the leader in legal analytics.* Our data scientists and legal experts have been dedicated to delivering meaningful analytics for more than a decade. Through rigorous processes, relentlessly improved data, and leading-edge technology, we help legal professionals gain meaningful insights, craft winning strategies, improve client service and minimize risk.
The Lexis Analytics™ suite of unmatched analytics solutions enables law professionals to harness vast content and high quality data sets to uncover insights and meaningful trends in three key areas:
- Litigation analytics: Enables attorneys to craft winning legal strategies based on quantitative insights and anticipated behaviors and outcomes.
- Regulatory analytics: Allows attorneys to better manage compliance helping them track regulatory developments, predict which laws will pass and understand what to disclose and how to disclose it.
- Transactional analytics: Empowers attorneys with the latest precedents and clauses to manage transactions more efficiently and effectively.
Explore our solutions today and learn how Lexis Analytics delivers the most powerful legal analytics solutions available today.
*Comparison data based on information available as of October 2018.
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