Big data analysis has become increasingly important to lawyers. It is not just confined to areas like electronic-discovery, predictive coding or technology-assisted review. The volume and complexity of data mean increasing challenges for companies involved in litigation.
For instance, attorneys are finding that big data analysis can be useful in economic and financial issues. Here is one practical example: If two companies are merging, there often needs to be an analysis of transaction databases. These databases need to be analyzed by economists to draw conclusions about competition in the sector, as well as the relevant market, according to Mike DeCesaris, a principal and director at Cornerstone Research who leads the firm’s data analytics practice.
