The digital revolution characterized by data and computerization has spurred the growth of the information age. It’s like squeezing the last few drops of the orange juice from the fruit, harmonizing innovation and need-based developments.
Radical developments in technology transforming volumes of books into easy discoverable information, the power of legal technology is just beginning to unleash. Big Data, e-Discovery and Data security, the three technological attributes of legal data bring gargantuan transformation to how data is processed in legal technology domain.
Enormous data used by the legal technology domain which has culminated into Big Data helps the white-collar. By compressing the volumes of data deduced from precedents, commentaries and legislation, Big Data shrinks costs and slashes the times taken by expendable legal undertakings.
Analysing and Correlating colossal amount of data sanctions answers to unanswered questions. Case assessment has become secondary with predictive analysis and transparency in legal technology now a priority of legal professionals. Swift billing, time management, improved customer service and marketing are icing on the cake!
Big Data also enables fundamental research and case preparation to be concluded in a jiffy!Predictive analysis and data dissection endowed by analytical tools aid legal professionals to draw insights and connections.
One such instrument being a tool that lets lawyers scrutinise decisions of a particular judge and find out which judge will be more sympathetic to an argument.Furthermore, E-Discovery or electronic discovery is a process enabling every person involved in a legal matter to collect, review, save and exchange data in electronic format, known as ESI or Electronically Stored Information. E-Discovery warrants this electronically stored data to be used as evidence whenever required.
E-Discovery process begins parallel to litigation with legal professionals responsible for preserving relevant ESI. Though, a complex and challenging for the legal professionals, technology identifies and simplifies relevant evidence by processing available data.
Lastly, Data security involves securing client data that consists of all personal information collected by legal professionals. While the legal industry is leveraging technology, data security is becoming a major concern.
However, malicious outsider data breaches have risen to three times, propelled through hacking and data mining. Virtual and cloud-stored data infringement is rampant in the contemporary age where susceptibility to damage has increased multifariously, making data inevitably jeopardous, thus creating an unavoidable liability of legal professionals to fortify clients’ sensitive information.
The 40% increase in breach serves as a wake up call for legal counsels and law firms to embrace data storage, maintenance, recovery, encryption and network sharing as a part of industry standard data security technologies.
Obscuring data with cognizant software eliminates vulnerabilities associated with emails and cloud storage system by limiting access to specific users.To sum it up, the need for harnessing Big Data, e-Discovery and effective data security is indispensable.
Vetting data security technologies can boost sales graph of legal service providers. An urgency for legal business houses to make an informed decision is present, which requires them to implement technology-oriented data protocol in their progression!