Annual Legal Analytics Survey Reveals: Using Legal Analytics Is Table Stakes For Litigation
In the 2023 Annual Legal Analytics Survey, 79% of Legal Professionals report that clients required or expected them to use Legal Analytics
MENLO PARK, Calif., March 22, 2023 /PRNewswire/ -- Lex Machina and LexisNexis recently conducted their annual Impact of Legal Analytics survey. Each year, Lex Machina reaches out to legal professionals, both customers and non-customers, in order to gain insights into how Legal Analytics continues to be used and perceived.
The survey gathered responses and reactions regarding the key drivers and barriers to adopting Legal Analytics, the value it brings to the business and practice of law, and how it is being utilized in the legal industry. Nearly 400 responses were received from U.S. legal professionals at law firms of all sizes.
"The key takeaway from the survey is that the responses demonstrate that Legal Analytics is here to stay," says Karl Harris, CEO at Lex Machina. "The survey results show that Legal Analytics is an essential, necessary component of effective litigation practice and business development. It's heavily expected by clients, and it has demonstrated great value to users in both litigation and business strategy. It's no surprise that two-thirds of respondents indicated they want to integrate Legal Analytics directly into their workflow."
Some of the significant data-driven findings include:
About LexisNexis Legal & Professional LexisNexis
LexisNexis Legal & Professional® provides legal, regulatory, and business information and analytics that help customers increase their productivity, improve decision-making, achieve better outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 150 countries with 11,300 employees worldwide, is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers.
About Lex Machina
Lex Machina fundamentally changes how companies and law firms compete in the business and practice of law. The company provides strategic insights on judges, lawyers, law firms, parties, and other critical information across 20 federal practice areas and a rapidly growing number of state courts. Lex Machina allows law firms and companies to predict the behaviors and outcomes that different legal strategies will produce, enabling them to win cases and close business.
Lex Machina was named one of "Legal Tech's Most Promising Solution Providers" (CIO Review Awards 2022), "Greater Bay Area Top Workplaces 2022" (The San Francisco Chronicle Top Workplaces in the Bay Area 2022), "Legal Tech Company of the Year 2021" (CIO Review, 2021), "2021 Legal Technology Trailblazer" (National Law Journal Trailblazer Awards, 2021), Winner of the "Media Excellence" Award for Analytics/Big Data (13th Annual Media Excellence Award, 2021). Based in Silicon Valley, Lex Machina is part of LexisNexis, a leading global provider of legal, regulatory, and business information and analytics. For more information, please visit www.lexmachina.com.
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SOURCE Lex Machina