Vendor Quiz is a periodic feature here at Slaw in which we ask a legal marketplace supplier a series of substantive questions about their product or service. Our goal is to provide insight and guidance to Slaw readers who might be considering a purchase, and who would benefit from practical information with which they can make a more informed choice. Vendor Quiz is an advertorial service, with each post sponsored by the featured vendor.
Loom Analytics is basically ‘moneyball’ for the legal industry. It provides legal analytics at your fingertips to help you identify historical trends in legal data.
- You call Loom Analytics a “legal analytics” product. What does that mean?
Currently, lawyers need to rely heavily on reasoning from analogy and anecdotal data when making decisions on case strategy. Loom Analytics is a web-based legal analytics tool that supplements traditional methods by highlighting meaningful patterns in large amounts of legal data.
Our goal is to complement currently available legal research tools and intuitive decision-making with hard numbers and graphs.
- Let’s take the broad example of a personal injury lawyer based in Ontario. What types of data can you deliver to this lawyer to help them decide whether or not to take on a case?
At the present time, the Hearing Outcome report is the most useful resource for lawyers deciding whether or not to take on a case. If you are plaintiff counsel, you can tailor your report to reflect your potential client’s circumstances, and run a Win/Loss comparison to see case precedents. You can also drill down further to see the same metrics depending on whether you are going to trial or at any other step in the litigation process.
Conversely, if you are defence counsel, you can use this report to help you make an informed decision about whether you want to settle or take a case all the way to trial.
- Can you give us an example of a graph and explain what it represents?
Here’s an example of a graph you could run using our ‘Hearing Outcome Report’:
Let’s say you’re defence counsel and you’re looking for the outcome of summary judgement motions brought by defendants in cases similar to the one you’re working on. You’re specifically interested in personal injury cases involving corporations. You set the filters that match your case, run the report, and the resulting graph will compare the outcomes of similar cases for you.
You can even compare past outcomes based on which judge heard the decision.
To give you a broad picture of the decision landscape matching your case, use the Decision Search Report in conjunction with the Hearing Outcome report. The ‘Decision Search Report’, lets you see the total number of summary judgements in comparable cases. Combining the results of the Hearing Outcome Report and the Decision Search Report will give users an accurate representation of historical trends.
- How accurate are the results?
We pride ourselves on the accuracy of our data, which is why we employ a multi-stage review process. 100% of our decisions are vetted by a team of lawyers and legal analysts.
A strength of our database is that if you search for summary judgement motions, the only results returned are for summary judgement motions. Loom won’t return decisions where the words ‘summary judgment’ are simply referenced. Loom’s extensive system of case categories reduces noise in your results by filtering out irrelevant cases.
- How fast are newly released decisions indexed into your system and factored into Loom Analytics’ reports?
Starting March 1st 2016, newly released civil decisions will be indexed and factored into Loom Analytics’ reports within five business days of release.
- What are your plans for current and future case coverage?
Since we are a Toronto-based company, we are currently working on Ontario decisions. Right now, our database contains Ontario Superior Court of Justice civil decisions from 2014 and 2015.
We intend to expand into other practice areas, court levels, and provinces shortly.
- When can we start using the product?
We are now live. We are hosting a product launch webinar on Thursday, February 11th. Visit our website at www.loomanalytics.com for more details.
Loom is available for free for a limited trial period. Users will have pay-as-you-go and subscription models to choose from at the end of the trial period.