How Data Analytics Can Drive Damages Calculations
This article reviews three real-world examples of data analytics in action, showing how mining structured or unstructured information can be essential in helping lawyers and experts build their damages calculations and in gathering critical evidence to support claims.
May 18, 2021 at 11:15 AM
8 minute read
The original version of this story was published on New York Law Journal
Big data can provide a strategic boost for counsel and experts when calculating damages. By presenting strong, evidence-based numbers, they can increase the likelihood that their theory and calculation of damages will be accepted by judges and arbitrators.
The question is: How do lawyers and experts get at the data? And when they obtain it, how do they extract evidence from it? A single case may involve terabytes of electronic information stored in a seemingly random array of electronic databases. Unstructured data, such as individual emails or company invoices, may need to be collected and examined. Even old, paper files can require scanning and scrutiny.
Increasingly, those problems are being addressed with data analytics, the use of sophisticated software and data science to mine, organize and analyze large sets of information. A data analytics approach can yield far more granular information, bolstering calculations and even providing evidence that can affect the outcome of cases.
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