item image
15 Apr 2019 Download

Product Spotlight: Lexis Analytics™ Suite

Artificial intelligence (AI), machine learning, predictive analytics, big data—those aren’t buzzwords. They’re real technologies that are helping law firms, lawyers and other folks in the legal profession gain unprecedented data-driven insight into their research.

At the center of these new legal technologies is the Lexis Analytics™ suite, a powerful set of legal data analytics tools that represent the leading edge of the legal research market.

WHAT IS 'LEGAL ANALYTICS'?

Analytics is blanket term for a technology built on a platform of detailed data analysis. By looking at massive data sets, humans (aided by machines) are able to spot trends, mitigate risk, predict outcomes and gain valuable insight into processes.

An entire industry has grown around business analytics software, and now the technology has the potential to transform the legal industry. For a legal team, that could mean things like predicting a motion outcome, a settlement amount or the time it takes to reach a decision—in other words, the technology uses data to help lawyers build a strong case strategy or analyze legal claims.

There’s a list of eight legal analytics terms you should know available at Lexis® Legal Advantage that gives you a handy primer on the subject. It’s a good idea to familiarize yourself with those terms—this article includes a few of them.

PERFORM FASTER, MORE THOROUGH SEARCHES

Conduct a more powerful search when you incorporate the machine-learning power and intuitive visualization tools within the Lexis Advance service.

Lexis Advance®

At its core, the Lexis Advance service is a powerful legal research tool. To help attorneys and paralegals sort through the mammoth amount of content in the LexisNexis legal database, Lexis Advance has several built-in analytical capabilities.

• Spot trends, uncover related subjects and link cases using the leading-edge Ravel™ View visualization tool.
• Find relevant results faster and quickly get to the information you want thanks to the Search Term Maps feature.

LexisNexis® Verdict & Settlement Analyzer

Want to see if it’s worth it to take-on a new case? Using this Verdict & Settlement Analyzer tool, you’ll be able to uncover what awards similar cases received and how long it took to reach a resolution. That way, you can determine if it makes financial sense for you to pursue the case.

• See clear visualizations that help you make informed decisions based on actual and “what-if” scenarios.
• Predict trends, identify patterns and review cases from every angle to improve case assessment.

Context, the newest addition to the Lexis Analytics suite

You can use Context to scour millions of documents using leading-edge language analytics to pinpoint precise court language. Then you can use that same language to help craft your own argument. It also delivers key background intel on witnesses and judges.

• Craft your arguments with key phrases that specific judge has used in the past.
• Learn how your expert’s testimony will fare under scrutiny or prepare for an opposing witness.