MENLO PARK, Calif., Feb. 8, 2022 /PRNewswire/ — Today, Lex Machina and LexisNexis release the results from their annual Impact of Legal Analytics survey. Each year Lex Machina reaches out to legal professionals nationwide, to get a clear view into how Legal Analytics technology is used and perceived.
This year's survey demonstrates the key drivers and barriers for legal analytics adoption, the value legal analytics brings to litigation practice, and how it is being utilized. More than 400 responses were received from U.S. legal professionals at law firms of all sizes.
Some of the key takeaways when comparing current users vs. non-users of legal analytics were:
Known Value 98% of respondents who currently use Legal Analytics believe that Legal Analytics is valuable or somewhat valuable for their legal practice, and even 78% of non-users say the same.
Drives Success 74% of those who use Legal Analytics said that successful litigation is the key driver for adopting Legal Analytics.
Demand for an API 63% of users would like to integrate their Legal Analytics with other organizational data
Drives Business 69% of users use Legal Analytics to pitch or demonstrate expertise to their clients
"The results demonstrate that not only are more people acutely aware of the benefits and impact that Legal Analytics has, but the ways they are finding those benefits continue to grow with the evolving needs of the industry," says Karl Harris, CEO at Lex Machina. "Ultimately, we are seeing great advancements in adoption that have propelled Legal Analytics from a new technology to a must-have for client acquisition, litigation success, recruitment, retention and so much more."
The survey gives insight into the shifting perspectives around this data. What was once feared as automation designed to replace the lawyer, has now been overwhelmingly accepted as a true asset to elevate the entirety of the legal practice. While there are still a few who have reservations about the adoption of Legal Analytics, those numbers are changing and the reasoning behind them is shifting. The survey results strongly suggest that as education on technology increases, this upward trend of adoption will continue to progress rapidly.
Lex Machina is hosting a webcast to discuss the findings of the survey on February 17, with Karl Harris, CEO of Lex Machina and Steven Lerner, senior reporter at Law360: 2022 Survey – The Impact of Legal Analytics.
To get the full survey results, including a complete infographic of the survey results please visit lexmachina.com/2022survey
About LexisNexis Legal & Professional
LexisNexis Legal & Professional is a leading global provider of legal, regulatory and business information and analytics that help customers increase productivity, improve decision-making and 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 160 countries with 10,400 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 18 federal practice areas and a rapidly growing number of state courts. Lex Machina allows law firms and companies to anticipate the behaviors and outcomes that different legal strategies will produce, enabling them to win more cases and close more business.
Lex Machina was awarded "2021 Legal Technology Trailblazer" (National Law Journal, 2021), "50 Most Admired Companies of the Year" (The Silicon Review, 2021), and "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
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