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Presented by Jae Um, May 18, 2018, at the Institute for the Future of Law Practice.
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Future Lawyers Speak Data
1.
INSTITUTE FOR THE
FUTURE OF LAW PRACTICE FUTURE LAWYERS SPEAK DATA Presenter: Jae Um / @jaesunum Founder & Executive Director 05.18.2018 $##
2.
my perspective Copyright ©
2018 Six Parsecs LLC. All rights reserved. @jaesunum
3.
DATA IS STORY Copyright ©
2018 Six Parsecs LLC. All rights reserved.
4.
COMPLICATED ECOSYSTEM + ACCELERATED PACE OF CHANGE = TRANSLATION BURDEN PARTNERS ASSOCIATES STAFF
ATTORNEYS CONTRACT ATTORNEYS PARALEGALS ANALYSTS PROJECT MANAGERS PROCESS ENGINEERS TECH SOLUTIONS “THE CLIENT”“THE FIRM” “STAFF” FINANCE / HR / IT MARKETING PUBLIC RELATIONS BUSINESS DEVELOPMENT PRACTICE MANAGEMENT BIZ/MARKET INTELLIGENCE PRICING & PROFITABILITY GC / CLO DEPUTY / AGC COUNSEL EE RELATIONS CONTRACTS LEGAL OPS PARALEGALS “THE BUSINESS” THE END USERS? THE END BUYERS? ????!!! “IT DEPENDS” VISIBLE LEGAL SERVICES MARKET Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
5.
Lawyers speak the
language of words. Business people speak the language of numbers. “ Kristen Cook In-house counsel @ 7-Eleven / 2018 ACC Value Champion @jaesunum Copyright © 2018 Six Parsecs LLC. All rights reserved.
6.
CRITICALLY IMPORTANT NOT AT ALL IMPORTANT Copyright
© 2018 Six Parsecs LLC. All rights reserved. @jaesunum
7.
@jaesunum Copyright © 2018
Six Parsecs LLC. All rights reserved.
8.
DATA IS STORY TOOLS WORDS PICTURES NUMBERS AIM USEFUL & MEANINGFUL TO
PEOPLE Copyright © 2018 Six Parsecs LLC. All rights reserved.
9.
What makes this
good? FALLEN OF WORLD WAR 2 WORDS + PICTURES + NUMBERS Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
10.
LOOK & FEEL LOOK
→ FEEL WHAT “DESIGN” USED TO MEAN NOW DESIGN PERMEATES ALL Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
11.
FEELING OUT IDEAS FEELING TOGETHER FEELING AS LANGUAGE SKETCHES
MEMES EMOJIS VISUALS HAVE DEEPER / MURKIER RESONANCE Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
12.
DECLARATIVE EXPLORATORY CONCEPTUAL DATA-DRIVEN Generate relevant
questions about things that matter Prioritize function over form GENERATE USEFUL INSIGHTS TO HELP YOU & YOUR ORG GET SMARTER EXPLAIN & INFORM OTHERS IT’S YOUR JOB TO GET & HOLD ATTENTION Focus on ideas not design But keep UX in mind Make it as clean as possible Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum Source: Good Charts
13.
DECLARATIVE & CONCEPTUAL Staple
of business theory & management consulting Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
14.
Essentially, all models
are wrong, but some are useful. “ George Box Statistician @jaesunum Copyright © 2018 Six Parsecs LLC. All rights reserved.
15.
DECLARATIVE EXPLORATORY CONCEPTUAL DATA-DRIVEN Generate relevant
questions about things that matter Prioritize function over form Focus on ideas not design But keep UX in mind Make it as clean as possible Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum Source: Good Charts
16.
ABELA’S HIERARCHY OF CHART
TYPES NOT PERFECT /COMPREHENSIVE BUT HELPFUL STARTING POINT Source: Good Charts EXPLORATORY & DATA-DRIVEN
17.
“BEST” DATAVIZ ≠
THE ONE RING Altman Weil has been asking this pair of questions to both Chief Legal Officers & Law Firm Managing Partners since 2012 Copyright © 2018 Six Parsecs LLC. All rights reserved.
18.
DRAMA!
19.
omg!
20.
DESIGN IS ABOUT
CHOICE EDITORIAL DECISIONS ARE UNAVOIDABLE 1. TRUE INSIGHT DEMANDS AN OPINIONATED POV 2. THE ANALYST MUST SIMPLIFY & DISTILL TO CREATE MEANING WITHOUT MISREPRESENTATION 3. THIS REQUIRES CONFIDENCE AND CONTENT UNDERSTANDING, SO DOMAIN EXPERTISE IS A MUST Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
21.
ONE DATA SET,
THREE TREATMENTS RELATED BUT DISTINCT INSIGHTS 01 02 03DISTRIBUTION (& COMPARISON) COMPARISON COMPOSITION OVER TIME (& COMPARISON) Same question, different respondents Related questions, same respondent Related questions, both respondents POV: Law firms Insight: Value gap in industry POV: Inside counsel Insight: Clients actually don’t ask POV: Holistic analysis Insights: Law firms aren’t crazy BAR HISTOGRAM + COLORS AND ANIMATION LINE CHART + COLORS AND LABELED MARKERS STACKED AREA CHART + COLORS AND LABELED MARKERS Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
22.
©2015 Seyfarth Shaw
LLP | 22 how serious are law firms? about providing greater value to clients 0% 5% 10% 15% 20% 25% 0 1 2 3 4 5 6 7 8 9 10 Firms say… But clients say… “not at all serious” “doing everything they can” Source: Altman Weil 2015 Flash Survey: Law Firms in Transition
23.
©2015 Seyfarth Shaw
LLP | 23 how serious are law firms? about providing greater value to clients 0% 5% 10% 15% 20% 25% 0 1 2 3 4 5 6 7 8 9 10 Firms say… But clients say… Source: Altman Weil 2015 Flash Survey: Law Firms in Transition “not at all serious” “doing everything they can”
24.
SPARTAN DESIGN BUT ORIGINAL
INSIGHT In 3 years of looking at this survey… I NEVER THOUGHT OF DOING THIS WHY? Copyright © 2018 Six Parsecs LLC. All rights reserved. CREDIT: CASEY FLAHERTY
25.
58% 36% 74% 9% 17%3% 58% 38% 2% 69% 9% 20% #Change = #FakeNews? 0% Responses
from law firm leaders remained fairly constant over this period… Relying on the “average” customer for feedback can be misleading. Because influencers tend to have strong feelings, they emerge from the edges, not the middle. The clients who are most skeptical of law firm change efforts represent prime targets for providers who position themselves as innovators and changemakers. Source: Altman Weil Law Firms in Transition & Chief Legal Officer Surveys, 2012 - 2017Copyright © 2018 Six Parsecs LLC. All rights reserved. 2012 2017 2012 20172013 2014 2015 20162013 2014 2015 2016 @jaesunum
26.
41% 47% 40% 3%10% 50% 44% 5% 49% 2% 2012 2017
2012 20172013 2014 2015 20162013 2014 2015 2016 Texture of law firm leader responses over time suggest client are applying pressure unevenly across distinct law firm segments 3%1% 5%4% Only a tiny minority of clients say corporations are putting intense pressure on firms to change their service delivery models, in any year. 40%45% 49%43% 51% 49% CLO responses fluctuate in the middle. This suggests that client pressure on firms is fluid and situational, highlighting the need for open channels of dialogue between client & firm to calibrate expectations on an ongoing basis. 9% #ChangeConversation = #LostInTranslation Source: Altman Weil Law Firms in Transition & Chief Legal Officer Surveys, 2012 - 2017Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
27.
Spartan yet again,
but he gets the job done SIMPLICITY IS A VIRTUE CREDIT: CASEY FLAHERTY
28.
@jaesunum
29.
YOUR TURN THINK ABOUT
THE CONTENT WHAT DOES IT MEAN? BOTH Q & A RELATIONSHIPS ACROSS QUESTIONS? THINK ABOUT THE ACTUAL PERSON BEHIND THE RESPONSE Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
30.
SKETCH YOUR IDEA Source:
Good Charts 1. How important do you think it is for lawyers to be "good with data" (whatever that might mean to you)? 2. Generally speaking, which of the following best describes your relationship with math? 3. What do you think of "lifelogging" / "quantified self"? 4. Which of the following best describes your undergraduate major? 5. How do you feel about the prospect of working with data in a professional setting? 6. How would you rate your overall user experience to date with Microsoft Excel? 7. How would you rate your current proficiency in Microsoft Excel? 8. How would you rate your interest level in eventually gaining mastery of Microsoft Excel? 9. Are you confident in your ability to explain to your parents what "Big Data" means? 10. Are you confident in your ability to explain to an 8th grader the difference between "causation" and "correlation"? 11. Which of the following data skills do you think you will need in the next 5 years? a. Data wrangling b. Statistical & mathematical modeling c. Computational methods d. Insight discovery e. Data visualization f. Data storytelling g. ¯_(ツ)_/¯ Copyright © 2018 Six Parsecs LLC. All rights reserved.
31.
0 1 2 3 4 5 6 7 8 0 1 2
3 4 5 6 7 8 ALL OF THE THINGS! # OF STUDENTS # OF SKILLS PERCEIVED AS NEEDED @jaesunum
32.
BI Architecture &
Data Engineering • Database and data warehouse design and administration • Data storage and networking procedures • RDBMS, SQL, OLAP, APIs, enterprise architecture, security, permissions Data Collection & Wrangling • Collection & mining methods • Excel (yes, really), SQL, R, Python, Power BI / Tableau Prep Statistics & Math • Distributions, centrality, regression, significance, confidence • Statistical inference • Supervised learning algorithms Business Smarts / Domain Knowledge • Understand your clients’ industry & current operating environment: not only regulatory, also political, economic, social & tech • Understand your clients’ business: revenue models, P&L & growth drivers, org dynamics • Business of law models & economics • Legal supply chain evolution • Financial governance in corporate and/or legal service provider environment THE GAME HAS CHANGED Insight Discovery & Sharing • Visual analytics • Excel (yes, really), Tableau, R, Python, JavaScript, HTML/CSS and PowerPoint (yes, really) Computational Analytics • Language processing and text analysis • Machine intelligence, statistical pattern recognition & neural networks • Genetic/evolutionary algorithms vs XAI THIS IS A PARTIAL LIST OF ALL THE USEFUL THINGS YOU COULD LEARN YOU DON’T NEED TO KNOW ALL OF THIS BY YOURSELF WORKING EFFECTIVELY WITH PPL WHO DO = WILDLY VALUABLE Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
33.
SHAPED LAWYER A FEW NON-OBVIOUS IMPLICATIONS MODERN
LAW IS A TEAM SPORT LEGAL TEAMS ARE INCREASINGLY DIVERSE & CROSS FUNCTIONAL Growing complexity tilt toward specialization But YOU are the decider & the designer of your T But it is hard to identify & assemble the right mix of skills needed for each specific challenge WINNING TEAMS CROSS THE TRANSLATION BARRIER “Boundary-spanners”: we need people who can traverse different spheres of knowledge & thinking Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
34.
CONTENT (meaning) SOME JD ADVANTAGE CAPABILITY
CONTEXT (skills) (stakes) FOR YOU DATA IMPERATIVE FOR LEGAL BUSINESSES FOR YOUR EMPLOYER BUY OR BUILD NEED EXPERIENCELITERACY OR MASTERY Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
35.
DOMAIN KNOWLEDGE Experts in
industry & company GENERAL TECHNICAL FLUENCY Don’t need to build models but know what models are available and apply them to the right business problems Interpret model results and ID potential model errors, such as overfitting PROJECT MANAGEMENT SKILLS & ENTRPRENEURIAL SPIRIT “ McKinsey Analytics February 2018 Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
36.
KNOW YOUR AUDIENCE Copyright
© 2018 Six Parsecs LLC. All rights reserved. @jaesunum
37.
If the topic
of regression comes up in a criminal or civil trial, the side that must explain regression to the jury will lose the case. “ David Freedman Statistician @jaesunum Copyright © 2018 Six Parsecs LLC. All rights reserved.
38.
DATA IT’S THE NEW
HOTNESS Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
39.
BUT THAT’S NOT
WHY YOU SHOULD CARE DATA IT’S THE NEW HOTNESS Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
40.
HYPE TRAIN 39% of
law departments say they collect and analyze metrics to improve efficiency… Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
41.
HYPE TRAIN 39% of
law departments say they collect and analyze metrics to improve efficiency… 9% report “great results” Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
42.
HYPE TRAIN 68% of
CLOs say none of their top 10 firms provide useful analysis of spending data Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
43.
LITIGATION COMPLIANCE EE
RELATIONS Disputed facts Theory of damages Time to disposition Cost of compliance Cost of non-compliance Systemic performance Incident rates Escalation rates Hot spot analysis RISING SOPHISTICATION ACROSS PRACTICE AREAS TRENDING TOWARD PORTFOLIO/SYSTEMIC ANALYSIS (MORE MATURE THAN UNIT ECONOMICS) Copyright © 2018 Six Parsecs LLC. All rights reserved. @jaesunum
44.
THEIR PAIN =
YOUR OPPORTUNITY IF YOU HAVE THE WILL & THE SKILLS Copyright © 2018 Six Parsecs LLC. All rights reserved.
45.
LIFE & CAREER
PATHWAYS USED TO BE SIMPLE (ALLEGEDLY) YOURS ≠ SIMPLE “back in the day” now & future (BUT IT WILL BE BETTER) Copyright © 2018 Six Parsecs LLC. All rights reserved.
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