DC BAR PRACTICE 360° · DC BAR PRACTICE 360° #Practice360 . In addition to talking about...
Transcript of DC BAR PRACTICE 360° · DC BAR PRACTICE 360° #Practice360 . In addition to talking about...
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Using Analytics to Give Your Firm a Strategic Advantage
DC BAR PRACTICE 360°
#Practice360
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In addition to talking about Fastcase, I also teach the Law of Robots at Georgetown Law.
Ed Walters CEO, Fastcase @EJWalters
Hi! My name is
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The tyranny of hunches
Practice 360°
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How much is my case worth?
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Where is it most advantageous to file suit?
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What’s this judge like?
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Should I accept this settlement offer?
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What’s the winning case?
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How many important precedents exist?
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Is my case still good law?
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How will the court rule?
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Is this contract clause standard?
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Not abstract statistics – core to practice.
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Hunches
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Doomed.
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The rise of legal analytics
Practice 360°
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Data will eat your hunch for lunch.
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Data trumps experience.
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Know your audience with data.
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Courts are random, right? (Wrong.)
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Data: The average associate spends 193.3 hours of research time that is written off, for an average cost of $61,856 per year.
Source: Calculating the Value of Legal Research Efficiency, Blue Hill Research, Sept. 2014
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Definitely.
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Solution: Use citation analysis and data visualization tools to drive new value.
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A 10% savings in research time can yield $1.6M in increased revenue and $1.2M in increased profits.
Source: Calculating the Value of Legal Research Efficiency, Blue Hill Research, Sept. 2014
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Log in through the DC Bar
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Smarter search
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Citation analysis for better results
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Data visualization to gain deeper understanding.
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Full pagination and clean formatting.
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Bad Law Bot – first big data citator.
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New! Law reviews from HeinOnline!
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New! Seamless integration with Clio!
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Fastcase 7 Search results and analysis
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Use smarter tools to drive research.
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Data visualization with Interactive Timeline
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Negative history by Bad Law Bot
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The coming age of analytics
Practice 360°
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An unprecedented explosion of data services.
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Focused reading view maximizes productivity.
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[email protected] @EJWalters