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The Data-driven Legal Department
It didn’t happen overnight, but intelligent ball clubs came to an important realization: Data is everywhere, and the ability to use that data in inventive ways is the key to driving higher performance across the organization at lower cost with less risk.
Moneyball, of course, has important analogues and lessons for business-minded legal departments. It is among the most distinct examples of how the abstract concept of information governance can be applied in concrete terms. It shows how Big Data can be harnessed and brought to bear to realize benefits across departments. What are sabermetrics, after all, if not a rigorous application of Big Data?
The same data revolution that gave rise to moneyball is underway in legal departments across the globe. Just as effective moneyball redounds to all areas of an organization, so too can savvy legal teams spearhead data-driven change that bridges departmental gaps — positively affecting compliance, security, risk, records management, and revenue.
Electronic discovery is a thorny process under legal’s purview that both cuts across all these competencies and is ripe for a more data-focused assessment. Discovery, as most legal practitioners have come to lament, is among the most expensive, complicated and risky aspects of litigation.
Read the complete article at Applying ‘moneyball’ to the legal department