Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

The Adoption of Legal Analytics

By Karl Harris
April 01, 2021

Over 10 years ago, when Lex Machina was beginning its mission to bring legal analytics to all areas of the law, the question of whether legal professionals would be willing to adopt legal analytics in their practice and business was a serious one. Now, as we proceed into 2021, the increasing adoption of legal analytics has changed from a former concern to a point of pride. The legal profession continues to embrace legal analytics and its advantages in increasing numbers every year. Now, the more interesting questions pertain to how legal professionals use legal analytics and what the likely path is for legal analytics in the future.

|

Recent Survey Results and What they Mean

At Legalweek 2021, Lex Machina unveiled a new survey that was conducted with responses from 616 legal professionals including American litigators, legal librarians, and legal business professionals at law firms and companies of various sizes. The results were illuminating, both in revealing how legal professionals use legal analytics and also what drives them to adopt legal analytics in the first place. The survey also sheds light on the interesting beliefs and motivations behind those who have yet to adopt legal analytics.

|

Legal Professionals Using Legal Analytics In a Powerful Way

When looking at the survey results to ascertain how law firms are using legal analytics, the methods of usage can be divided into two overarching categories.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Top 5 Strategies for Managing the End-of-Year Collections Frenzy Image

End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.

The Self-Service Buyer Is On the Rise Image

Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.

Should Large Law Firms Penalize RTO Rebels or Explore Alternatives? Image

Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.

Sink or Swim: The Evolving State of Law Firm Administrative Support Image

The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?

Tax Treatment of Judgments and Settlements Image

Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.