Collect Better Data, Not More Data

The problem: Corporate legal has recognized the immense value of collecting and analyzing data, and much time and energy is spent doing it, but there is a lack of clarity about where to draw the line. In particular, “Enterprise Legal Management” (ELM) systems often require pulling in data from a wide range of sources. “As more and more GCs turn to process and technology to meet these pressures,” writes Justin Silverman from LexisNexis CounselLink. “[A] set of best practices is emerging that defines what data to collect and how best to collect it.”