IDC Report Explores How Legal Data Intelligence is Transforming the Legal Function
Author: LDI Team
The legal industry is beginning to note the vital role that Legal Data Intelligence can play in empowering legal teams to take control of data. This IDC Perspective titled "Transform the Legal Function by Embracing Legal Data Intelligence" examines this in detail.
In an increasingly complex and saturated data landscape, legal teams today are struggling to take control of the organization's sensitive, useful, and necessary (SUN) data. As the author writes in the report, without visibility into data there can be neither risk mitigation nor process optimization.
According to the IDC Perspective, "at its core, LDI is an integrated methodological framework, supported by technology such as artificial intelligence and workflow automation, that enables legal professionals to organize, analyze, and apply legal data more effectively." The report breaks down three crucial areas: (1) What is Legal Data Intelligence? (2) Why is Legal Data Intelligence important? (3) Advice for the Technology Buyer.
"Legal data intelligence is more than just a technical upgrade – it's a new way of thinking and working that is quickly becoming a movement within the profession, allowing legal teams to clarify their value, reinvent their functions, and align their work more closely with business outcomes in an increasingly data-centric world."
Legal teams need to prioritize embracing the LDI model and choosing technology vendors with proven expertise in LDI to mitigate the risks of data sprawl, maximize operational efficiency, and reduce manual effort in legal functions.
This IDC Perspective is a must-read for anyone looking to understand how Legal Data Intelligence can help legal teams take control of legal data and turn it into actionable insights that support legal processes, compliance, and business strategy.
The report is available to view for a limited time. You can access it here.
Since the Legal Data Intelligence model was launched more than two years ago, LDI founding members and architects have published workflows on 20 different use cases across four different categories. Additionally, they have collectively published a large corpus of toolkits, guides, white papers, and articles, arming LDI practitioners with practical tips on how to effectively apply the LDI model and transform the legal function from a cost center into a value driver. The initiative has also garnered industry-wide interest with coverage in Law.com, Modern Counsel, and Thomson Reuters. With the wider industry realizing the value of LDI in solving legal data challenges, organizations are rewriting job descriptions and recruiting legal professionals with the skills to apply the LDI model.
About the author of the report:
Ryan O’Leary is a Research Director in IDC's Security and Trust research program covering Privacy and Legal Technology. In this role, Mr. O’Leary leverages his legal experience to provide perspective on changes in laws, shifting regulation, and other market forces that affect technology decision making today for both law firms and corporations. He also provides thought leadership that technology suppliers and technology buyers may use to develop effective strategy for the future. Mr. O’Leary’s core research coverage includes the evolution of eDiscovery and legal technology. As well as, the evolution of privacy compliance technology and impacts of new and emerging data privacy regulation.