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Data compliance: The legal and regulatory risks of big data analytics

Mike Rebeiro and Marcus Evans discuss how law firms can manage the legal and regulatory risks of big data analytics

29 January 2015

Big data technology and services are expected to grow worldwide to US$16.9 billion in 2015, at a compound annual growth rate of 40 per cent, according to the European Commission.1 For both law firms and general counsel, big data analytics can be leveraged far beyond maximising cost efficiencies or determining how to price particular matters. Used correctly, data analytics can change how legal services are delivered in future by giving businesses direct access to relevant legal knowledge and advice. The lawyer's traditional role as knowledge broker could consequently come under threat.

In deploying big data analytics, law firms and general counsel must remember that, as the Information Commissioner recently observed, big data is "not a game played by different rules".2 A failure to address legal and regulatory risk in relation to big data could result in a serious regulatory...

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