Data Analytics in IG Has Solid Foothold

Survey Shows Use of Data Analytics in IG Has Solid Foothold in In-House Legal Departments

[vc_row][vc_column][vc_column_text]As anyone who regularly attends legal conferences can attest, data analytics and its potential to revolutionize the practice of law have been all the rage for the last few years. However, until now it has been unclear whether or how corporate legal departments are using these technologies. To answer this question, the Coalition of Technology Resources for Lawyers (CTRL) commissioned us to do a research focused on the use of data analytics by in-house legal departments across six use cases. CTRL recently released the results of that survey, Data Analytics in the Legal Community: 2015-2016 Trends.

According to the study, almost one-third of in-house legal departments (28%) report using data analytics in IG beyond the other use cases the survey explored (e-discovery, legal matter management/billing, outcome/risk analysis, contract review, and selection of outside counsel). Given that the legal profession has a reputation for being slow to adopt new technology and given the relative newness of IG as a discipline, these results may seem surprising to some.

At the IGI, we see these results as very promising and in line with results of our recent annual research showing that most organizations are taking action on IG. Though IG is a relatively new discipline, our annual research shows that most organizations are taking action on IG. For example, a majority of practitioners (57%) report that their organizations are building the foundation for an IG program, and almost a third report that their organizations’ IG programs are at an intermediate maturity level—established, and building out the framework and structure for IG.[/vc_column_text][vc_column_text]

“We were frankly surprised at how many corporate legal departments are looking at advanced analytics outside of the e-discovery context,” said Barclay T. Blair, Executive Director of the IGI. “The promise of analytics and automation is not limited to line-of-business use cases – legal departments can and should be putting the technology to work.”

[/vc_column_text][vc_column_text]To learn more about CTRL, check out their website and download a copy of their survey today. You can also download a copy of IGI’s Annual Report 2015-2016 at our community site. Not a member? Join today.[/vc_column_text][/vc_column][/vc_row]