LexisNexis has today announced Custom Analytics as a new offering under the Lexis® Legal Analytics umbrella. Custom Analytics is a new consulting service which law firms, corporate teams, universities, courts and government departments can use to identify new and crucial insights into legal information and strategy – resulting in smarter, evidence-based decisions. This combines a vast historical database and team of legal editors with new analytics capabilities.
“Custom Analytics evolved organically with our clients, and the solutions under Lexis Legal Analytics will continue to do so,” said Simon Wilkins, General Manager – Australia, LexisNexis, “As clients approach us with their unique challenges and needs we will develop the necessary legal analytics tools for them. We’re uniquely placed with both the content and the technology to produce this.”
Insights from Custom Analytics will, by way of example, provide lawyers with an advantage by providing visibility into how opposing counsel, the judiciary, a litigating party, or jurisdictions may behave and allow them to incorporate these new findings into their case strategy preparation.
This is particularly useful for in-house counsel, who will soon be able to cross-reference litigation data with operational data to assess the effectiveness of existing outside counsel, providing new ways to benchmark them against potential competition.
In-house counsel judgment and relationships will continue to be essential, but hard data can be a useful tool to inform decision-making, validate an outside counsel’s claims of experience, and to help explain why particular counsel was selected.
Applications of the bespoke analytics services include reporting on panel firm selection, custom-built databases of specific judgments and outcomes of interest, checking conflict of interest, historical court trends, identifying talent, and others.
“This service expands the offering of Lexis Legal Analytics and will provide customers with added research capabilities powered by data and visualisation tools,” said Julie Austin, Data Analytics Manager, LexisNexis Australia.
“Having noted the success of ad hoc services that we have offered clients in the past, we are very pleased to now be offering this as a formal consultancy service,” said Ms Austin.
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