On February 20, 2020, InvestCEE LegalTech Consultancy hosted a webinar organized by the European Legal Technology Association (ELTA) regarding the use of legal data analytics for improved decision making of corporate legal departments and law firms. The panel of experts included Jodie Baker, founder and CEO of Xakia Technologies and Ádám Szíjártó, legal director of Egis Pharmaceuticals PLC. The discussion focused on identifying and visualizing metrics beyond the billable hour to demonstrate the value of legal work.
The webinar covered legal data analytics from the following main angles:
- The case for legal data analytics: why it matters for both in-house legal teams and law firms
- The mechanics of legal data analytics: essential considerations before starting to collect legal data
- The data: the who, what, when and why of collecting data in legal workstreams
- Putting it together: creating visual reports to enable better communication with clients (internal and external)
- Case studies: best practices of in-house legal teams using data analytics