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How Is Big Data Influencing Legal Business

Law firms have always strived for an increase in efficiency as well as productivity. Big data analytics has helped them achieve this to some extent. It assists them in delivering quality services to their clients by helping them take complex strategic decisions.

Big data analytics helps lawyers digitize and derive meaningful conclusions from the data they collect each day such as precedents, advice, correspondence, court judgements, evidence discovery, witness records etc. Thus, it improves business operations by making things more organized & systematic.

Here are some ways in which big data can help legal businesses:

  • Business Development – Big data allows you to analyze raw information available on the servers to gain an insight about your business operations. It enables you to find out ways to better utilize internal as well as external data by adopting the right algorithms.

    Big data helps law firms decide whether it would be profitable to take up a certain case or not based on a quick analysis of similar cases handled in the past. Also they can make an informed pricing decision to know whether taking up the case will generate enough profits or not. On the other hand, it can also be used to identify areas of market growth, spending behavior of consumers etc. in order to design a suitable business strategy for growth. 

  • Due Diligence - Big data helps in saving costs, time & effort required to perform due diligence. It has made it easy for legal businesses to search for important documents such as regulatory licenses, litigation history etc. from government registers, local as well as state & federal government websites. Big data allows companies to delve in to a detailed analysis which in turn has helped them understand how they can use the analysis to lower their costs substantially.
  • Litigation Strategy – It has changed the way lawyers provide advice to their clients. With big data available at bay, lawyers try to understand the working pattern of an opposing lawyer. This is done by considering their area of specialization, previous litigation history, experience, settlement rate etc. This information helps law firms in designing a suitable case strategy. The analysis derived from this data enables them to determine decision making patterns, minimize frivolous litigations & provide useful insights to win the case.

Some Other Ways In Which Big Data Can Be Used Are:

  • In identifying new clients
  • Reducing operational costs
  • Enables law firms to employ lawyers and staff
  • To have better & easier access to information

Big data has helped legal businesses to analyze vast sets of data so that the outcomes can be predicted with greater certainty. This is the reason why, law firms are increasingly resorting to big data analytics to simplify & optimize their operations.

For more information, contact Centex Technologies at (972) 375 - 9654.

More About Intelligent Personal Assistants

Intelligent Personal Assistant (IPAs) as the name suggests is an automated mobile software agent that performs certain tasks as per an individual’s command. Most of these commands are performed on the basis of user input & location awareness.

IPAs are usually embedded in smart phones and other computing devices. They are highly convenient and accessible, which is why the market for Intelligent Personal Assistants is rapidly expanding. As per Statista, the market revenue projections of this industry are projected to be over 17 billion in 2022.

Let us discuss about some most common IPAs that are quite prevalent in the market these days:

  • Siri – Launched by Apple in 2011, Siri helps you manage your tasks smoothly in a hassle free manner. From setting a reminder, searching up certain information, downloading a file to calling a friend or relative, Siri can do it all for you based on the commands you give it.
  • Google Now – Google entered this market on its Android 4.1 “Jelly Bean” operating platform. Google now is backed up with the largest search engine of the world and can sneak the information stored on Gmail and google accounts to respond to user queries. It has answers to all your queries about places, routes, weather, flight status etc. The personal assistant allows you to view information that can be translated in over 100 languages. Just say “Ok Google” and your command, your google assistant will perform that task.
  • Cortana – It is an intelligent personal assistant developed by Microsoft which was released in early 2014. Named after an AI character in the Halo game series, it was originally created for Windows phone 8.1. Also, it is supported by Microsoft’s Bing search engine. So apart from performing activities like other IPAs, Cortana is designed to personalize user experiences.
  • Alexa – Developed by Amazon, Alexa is a virtual assistant that is capable of voice interactions, setting alarms, streaming podcasts, providing real-time information and what not. It can control several smart devices in the home automation space.

Other Commonly Used IPAs

  • Nina
  • Hound
  • Aido
  • Cubic
  • Bixby
  • Braina Virtual Assistant
  • Jibo
  • Hidi

Benefits Of Using IPAs

  • Voice recognized IPAs are extremely useful for elderly or visually impaired people.
  • They understand user patterns, habits and choices on the basis of commands and searches made, thereby allowing maximum personalization.
  • Have access to large database, thus providing you whatever information you want in a fraction of seconds by scanning information available on search engine databases.
  • Have closely connected & integrated humans with technology.
  • Enhanced productivity by making processes easier and hassle free.
  • Natural data interface allows you to make your queries by typing or speaking naturally. You can literally ‘talk’ to them.

In general most IPAs have the ability to extract information such as weather conditions, traffic congestion, news, retail prices etc. from the web. So the next time you need some information, you know your intelligent personal assistant has your back.

For more information, contact Centex Technologies at (972) 375 - 9654.