The day is here: Big data, loosely defined as the computer analysis of torrents of information to find hidden gems of insight, is slowly transforming the way law is practiced in the U.S.
Law firms are using big data to identify which cases will be easy slam dunks and those that are air balls. They’re relying on the technology to get a read on what other law firms are charging, so they can adjust their rates accordingly. And big data is also popping up in law firm human resources departments, where tech-savvy department heads are crunching data on potential new hires in the hopes of coming up with recruits who are truly a good fit.
I suppose its only price-fixing and a violation of anti-trust laws when a couple of solos and small firm practitioners talk about charges–not when the big folks do some data mining?
- What are you doing about “big data?” That is a question making the rounds with retailers today. (stevesammons.me)
- Powered Analytics harnessing the power of “big data” (statsburgh.com)
- How making sense of big data could create jobs in Ireland (irishtimes.com)