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What's in a name?

Highlights

Lawyers who use numbers and data will stand out from the crowd

There’s a myth that lawyers don’t ‘do’ numbers. Believers say it’s because lawyers live in a world of words where numbers don’t get a look-in.

We’re less convinced – 0ur view is that business is pretty numbers-focused, and lawyers are part of business. Numeracy may not be a lawyers’ first skill, but it’s definitely in the skillset.

Clients do ‘do’ numbers even if lawyers appear not to. And there’s a lot of data that relates to legal topics – but when did you last see a chart in a law-firm update or briefing.?

Charts and data-tables (and interactive charts like the one below) would make memorable legal-update features.

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Here are three examples of data that clients would find interesting

A firm that uses data to explain or illustrate legal developments would show clients that they speak their language (our writing training includes a module on using data and charts).

Here are just a few charts that clients have never seen from a law firm (as far as we can tell, but we’d love to be proved wrong):

• Trends in EU competition fines:
  Here are some quick snippets of EU-competition data: over €2.25 billion in fines in 2008; six of the ten largest individual fines since 1969 were handed down in just two years – 2007 and 2008.
• Pension-fund debts of UK Plcs in last five years:
  It may sound like something you’d find in the FT – but pension-fund trustees would find this interesting, if a tad depressing.
• Statistics on IP mediation and dispute resolution:
  We couldn’t find published data on this topic, let alone charts of the data. It doesn’t mean that the data doesn’t exist, it just means that it’s not been gathered and presented in a way that supports an argument or illustrates a point.

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Interactive charts: a neat way to give clients an insight into data

A first step along the data-presentation road would be more charts and data tables in updates and e-bulletins. But if your team has found some interesting data that supports an idea you’re keen to explain to clients, then step right up to the interactive chart.

Interactive charts let you change variables and see how this changes results. As humans, we find this kind of thing very helpful because we learn a lot about the data-set as we see the results change. The demo we’ve put together uses data from a number of US clinics on the amounts of a specific drug, Avastin, prescribed to treat different kinds of cancer.

Interactive charts help you understand data. You can see the data change
as you alter filters and parameters (try the live demo).

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The key interactive feature we’ve added is a slider that lets you ‘time slice’ the data – as you drag the slider over the upper chart area detailed data on a specific month is displayed in the lower chart area.

If you click on the image below you’ll see a very short (38 second) clip of a demo website we put together to show how interactive web-based charts can work. This kind of technology is pretty simple now: all it takes is a little thought and imagination, and knowing the right people (which means us).

Go to the live interactive chart (thanks to Majestic Research*)

Firstly, it’s a demo so there are a few glitches. Secondly, please note that the data shown is purely indicative and not for investment purposes. The data was provided by Majestic Research* – a New York based investment-research firm we’ve done some interesting work for.

To see the live chart – you can click-and-drag and timeslice to your heart’s content – click here.

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*Find out more about about Majestic Research at www.majesticresearch.com