News

Data Will Revolutionize Your Firm

By Jeffery Leon

May 30, 2017

Ed Walters presents at Practice 360

Take a deep dive with Fastcase CEO Ed Walters into how data is changing the practice of law.

During his presentation about big data at the D.C. Bar’s Practice 360º | A Day for Lawyers and Law Firms on May 19, Walters shared his expert insights on legal analytics and how integrating technology could help firms improve their workflow and provide a detailed look at clients, cases, and legal trends.

When it comes to how firms should be utilizing data, Walters emphasized the following to attendees:

  • You don’t have to be an oil baron. You don’t need to collect all the data in the world before analyzing it. Just get started.  
  • Get a head start. Don’t wait too long to start integrating technology and analyzing data in your firm. 
  • To make data valuable, integrate it vertically and horizontally. Include tech and data at all steps. Data just sitting around untouched is useless.  
  • Data may be the new oil, but it’s crude oil. It needs to be refined. Any data you collect needs to be analyzed closely for it to be useful to your firm. 
  • Data will eat your hunch for lunch. Data will win out against guesses.

The legal world is at the door of being data-driven, says Walters, and it’s time to take part.