By Steve Lastres of Debevoise & Plimpton (ILTACON Education Committee facilitator), Andrew Baker and Karl Haraldsson of HBR Consulting

What is my legal exposure in this case? How much should I settle for? What’s market for this contractual provision? These are examples of key questions clients ask, and the answer from their lawyer is usually subjective in nature. To paraphrase Ed Walters, CEO of Fastcase, the industry is far too reliant on “hunches” and too light on data and statistical responses. As firms seek to modernize and respond to evolving client expectations, the data use environment is changing. That should not be surprising, as the use of data in virtually every other industry is on the rise.

In response to the increasing activity and interest in the crossroads of law, data, and strategy, ILTA has composed a four-part Data Analytics Series. Each session in this series is designed to…