Gartner’s Big Data Predictions Forecast the Future of Legal Work
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The business space is about to get a lot more reliant on information to accomplish work and make business decisions
“Big Data” is everywhere these days and has been attached to concepts in just about every area of business. For legal, access to large volumes of data could streamline work in everything from billing and information management to case strategy and paralegal work.
Gartner Inc., which kicked off its Business Intelligence & Analytics Summit conference today in Las Vegas made three predictions concerning the evolution of Big Data earlier this year. The trends underscore how quickly the use of large volumes of information is evolving, and show the potential promise and problems that Big Data and enterprise business analytics hold.
According to Gartner:
- By 2020, information will reinvent, digitize or eliminate 80 percent of business processes and products from a decade earlier.
- By 2017, more than 30 percent of enterprise access to broadly based Big Data will be via intermediary data broker services, serving context to business decisions.
- By 2017, more than 20 percent of customer-facing analytic deployments will provide product tracking information leveraging the Internet of Things (IoT).
For legal, the latter could enable a more holistic view of how and why lawsuits are being filed, allowing firms to offer a practice type within a region being underserved, or offer alternate-fee arrangements to remain competitive in an area. There are also the privacy ramifications of such a system, which will require those versed in policy to help shape.
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