In the legal sector, information overload is a genuine and omnipresent problem. The sheer volume of information that can hit legal professionals on a daily basis can be overwhelming. Quite apart from the need to extrapolate the right insight from it, the data needs to be managed, configured, accessed, stored, archived and retrieved reliably and seamlessly.
Data is a key resource in the digital economy, and a world of exponential data growth has accelerated complexities around what firms need to store for business purposes. Failure to engage with this risks the possibility of firms being left with “toxic data”. With this background, the importance of smarter information management becomes critical.
It’s common for organisations to retain data they do not need, in duplicate forms, in ‘silos’. This is exacerbated in the legal sector where there is an ethical obligation to keep client records and a ‘malpractice’ fear of misplacing information. Silos must be broken down through the identification, classification and consolidation of information – but the opportunity must not be missed to instil a culture of joined-up-thinking.